What $300K-$400K Gets You in Henrico and Chesterfield County Right Now
A practical look at square footage, lot size, and neighborhoods at this price point in 2026
In Henrico and Chesterfield County, $300,000 to $400,000 in 2026 typically buys a 3-bedroom, 2 to 2.5-bathroom home between 1,500 and 2,200 square feet on a lot between 0.2 and 0.5 acres, usually built between 1985 and 2015. That budget puts buyers in neighborhoods like Glen Allen, Short Pump’s outer edge, Sandston, Chester, Midlothian’s older sections, and parts of Highland Springs. For context, the median single-family sales price in July 2026 was $475,000 in Henrico County and $440,000 in Chesterfield County, according to Central Virginia Regional MLS single-family data for July 2026, so this budget sits below the county-wide midpoint in both. Monthly payments depend on the loan program, the down payment, and the rate available when you lock, so we do not publish payment estimates here. This guide from the Mission Realty Team explains what square footage, lot size, features, and financing look like as you move up through this range, compares neighborhoods side by side, and answers the most common questions buyers ask when house hunting at this price point in the Richmond VA suburbs. Contact the Mission Realty Team at (804) 601-4960 for current figures on a specific address or neighborhood.
Table of Contents
- 1. What $300K-$325K Buys: Entry-Level Suburban Homes
- 2. What $325K-$350K Buys: More Space, Same Suburbs
- 3. What $350K-$375K Buys: Updated Kitchens and Bigger Lots
- 4. What $375K-$400K Buys: The Sweet Spot for Families
- 5. Neighborhoods to Target in Henrico County at This Price
- 6. Neighborhoods to Target in Chesterfield County at This Price
- Frequently Asked Questions
Direct answer: $300,000 to $400,000 sits below the county-wide median single-family sales price in both Henrico and Chesterfield County, according to Central Virginia Regional MLS single-family data for July 2026, and in practice it lands buyers in solidly built homes from the 1980s through 2010s rather than brand-new construction. This is the price band where the tradeoffs get interesting: at $300K you’re often choosing between more square footage in an older home or less square footage in a newer one, while by $400K you can typically get both updated finishes and a usable yard.
The verified market context for this price range comes from the Central Virginia Regional MLS. In July 2026, Henrico County recorded 287 single-family closed sales with a median sales price of $475,000, a median of 16 days on market, and 1.5 months of supply, while Chesterfield County recorded 407 closed sales with a median sales price of $440,000, 21 days on market, and 1.8 months of supply, according to Central Virginia Regional MLS single-family data for July 2026. Those are county-wide figures for all single-family homes rather than figures for the $300,000 to $400,000 band, and no verified medians are published at the neighborhood or subdivision level. Contact the Mission Realty Team at (804) 601-4960 for current figures on a specific address or neighborhood. Square footage in this range runs from roughly 1,400 to 2,400 depending on the specific pocket, lot sizes range from small in-town lots under a quarter acre to half-acre-plus lots in older Chesterfield subdivisions, and almost everything at this price point was built before 2018, meaning HVAC age, roof age, and water heater age matter as much as square footage when comparing options.
Financing at this price band also has its own rhythm. Your monthly payment depends on the loan program, the down payment, your credit profile, and the interest rate available when you lock, and rates move often enough that any published payment estimate goes stale quickly, so ask a lender for a current quote. Property tax rates are set annually by each county’s Board of Supervisors and differ between Henrico and Chesterfield, so the tax portion of an escrowed payment can differ between the two counties even on an identically priced home. Confirm the current rate and the county’s assessed value before you build a budget. Contact the Mission Realty Team at (804) 601-4960 for current figures on a specific address or neighborhood.
What $300K-$325K Buys: Entry-Level Suburban Homes
At $300,000 to $325,000, expect 1,400 to 1,700 square feet, 3 bedrooms, 1.5 to 2 bathrooms, and a lot between 0.15 and 0.3 acres. These are typically ranch or split-level homes built between 1970 and 1995 in neighborhoods like Sandston, older Chester, and parts of Highland Springs.
Square footage: 1,400-1,700 sq ft is the norm, though you’ll occasionally find a 1,900 sq ft home with a dated kitchen or an unfinished basement pulling the price down into this range.
Lot size: 0.15 to 0.3 acres, often without a fenced yard, though corner lots and cul-de-sac lots can push closer to 0.35 acres.
Features: One-car garage or carport, original or once-renovated kitchens, older HVAC systems (often 10-20 years old), and in many cases a partially finished basement that adds bonus living space but not official square footage.
Financing considerations: FHA loans are common in this range because of the lower down payment requirement, with FHA allowing as little as 3.5% down, and the Mission Realty Team frequently sees first-time buyers pairing FHA financing with Virginia Housing down payment assistance programs to get into homes at this level.
What $325K-$350K Buys: More Space, Same Suburbs
Moving up to $325,000-$350,000 usually adds a couple hundred square feet and often a second full bathroom. Expect 1,600 to 1,900 square feet, 3 bedrooms, 2 bathrooms, on lots of 0.2 to 0.35 acres in areas like Glen Allen’s older sections, Bensley, and parts of Highland Springs closer to Laburnum Avenue.
Square footage: 1,600-1,900 sq ft, frequently with a one-story layout or a split-foyer design with a finished lower level.
Lot size: 0.2 to 0.35 acres, and this is often where you start seeing usable backyards suitable for a swing set or garden.
Features: Two full bathrooms become standard, attached one-car garages are common, and a meaningful share of listings in this band have had at least a partial kitchen or bath update in the last decade, though it varies street by street.
Financing considerations: Conventional loans with private mortgage insurance (PMI) are common here. Conventional financing can start as low as 3% down for qualified buyers, and PMI applies until you reach 20% equity. The cost of PMI depends on your credit score, loan size, and down payment, so ask your lender to quote it rather than relying on a published range.
What $350K-$375K Buys: Updated Kitchens and Bigger Lots
At $350,000-$375,000, buyers typically find 1,800 to 2,100 square feet, 3 to 4 bedrooms, and 2 to 2.5 bathrooms on lots of 0.25 to 0.4 acres. This range covers much of Chester, Brandermill’s entry-level condos and townhomes, and Glen Allen proper.
Square footage: 1,800-2,100 sq ft, and this is typically the first price point where a fourth bedroom or a dedicated home office becomes common rather than rare.
Lot size: 0.25 to 0.4 acres, with more listings including mature landscaping, storage sheds, or established fencing.
Features: Updated kitchens with granite or quartz counters are common but far from universal, two-car garages become more frequent, and HVAC systems tend to be newer because more sellers replace major systems before listing.
Financing considerations: This is a range where jumbo loan thresholds are irrelevant, since conforming loan limits are far higher, so buyers have full access to conventional, FHA, and VA products. What the monthly payment looks like depends on the program and the rate you lock, so get a current quote instead of relying on a published estimate.
What $375K-$400K Buys: The Sweet Spot for Families
At the top of this range, $375,000-$400,000 typically buys 2,000 to 2,400 square feet, 4 bedrooms, and 2.5 bathrooms on lots of 0.3 to 0.5 acres. This is where Midlothian’s older neighborhoods, western Chesterfield, and parts of eastern Glen Allen come into play.
Square footage: 2,000-2,400 sq ft, often two-story colonials or transitional-style homes with a formal dining room and a dedicated family room separate from the kitchen.
Lot size: 0.3 to 0.5 acres, and this is typically the first price point where a fenced backyard, mature trees, and a patio or deck are standard rather than a bonus.
Features: Two-car garages are close to universal, primary suites with walk-in closets appear in most listings, and many homes have been updated within the last decade.
Financing considerations: Down payment size is the biggest lever at the top of this range. A 20% down payment avoids private mortgage insurance entirely, which lowers the monthly cost compared with 5% or 10% down, while FHA at 3.5% down and VA at 0% down leave more cash in your pocket up front. Because mortgage rates and county tax rates both change, ask a lender for a current payment estimate on the specific home you are considering.
Neighborhoods to Target in Henrico County at This Price
Henrico’s best value in this range clusters around Glen Allen, Sandston, and pockets of the Fair Oaks and Lauderdale areas near Laburnum Avenue.
Glen Allen (older sections, not Wyndham): 3-4 bed, 2 bath homes from the 1990s and 2000s, 1,700-2,200 sq ft, lots around 0.25-0.4 acres. Older Glen Allen usually sits toward the upper end of a $300,000 to $400,000 budget, and well-regarded Henrico schools keep demand strong. No verified median is published for Glen Allen specifically. Contact the Mission Realty Team at (804) 601-4960 for current figures on a specific address or neighborhood.
Sandston: 3 bed, 1.5-2 bath homes, 1,300-1,700 sq ft, lots often 0.2-0.3 acres. Sandston generally sits at the more affordable end of this budget. Close to Richmond International Airport and I-64, it is popular with buyers prioritizing commute time over square footage.
Fair Oaks / Laburnum corridor: Split-levels and ranches, 1,500-1,900 sq ft, lots around 0.25 acres, generally landing in the middle of this budget rather than at the top of it.
Neighborhoods to Target in Chesterfield County at This Price
Chesterfield offers the widest range of options in this budget, from Chester’s entry-level ranches to Midlothian’s family-sized colonials.
Chester: 3 bed, 2 bath homes, 1,600-2,000 sq ft, lots around 0.25-0.4 acres, commonly landing in the middle of this budget. Strong value for commuters using Route 10 and I-95.
Bensley: 3 bed, 1.5-2 bath homes, 1,400-1,750 sq ft, lots around 0.2-0.3 acres, usually at the more affordable end of this budget.
Midlothian (older, non-Brandermill/Woodlake sections): 4 bed, 2-2.5 bath colonials, 2,000-2,400 sq ft, lots around 0.3-0.5 acres. This is where the top of a $300K-$400K budget stretches thinnest, and buyers often need to be at the upper end of the range to compete. Contact the Mission Realty Team at (804) 601-4960 for current figures on a specific address or neighborhood.
| Area / Example | Typical Home Type | Sq Ft (typical) | Bed/Bath | Lot Size | Where It Falls in a $300K-$400K Budget |
|---|---|---|---|---|---|
| Sandston, Henrico | Ranches and split-levels, mostly mid-century | 1,300-1,700 | 3/1.5-2 | 0.2-0.3 acres | Lower end |
| Bensley, Chesterfield | Ranches and modest two-story homes | 1,400-1,750 | 3/1.5-2 | 0.2-0.3 acres | Lower end |
| Chester, Chesterfield | Ranches and two-story homes, many 1980s to 2000s | 1,600-2,000 | 3/2 | 0.25-0.4 acres | Middle |
| Highland Springs, Henrico | Older ranches, capes, and split-levels | 1,500-1,850 | 3/1.5-2 | 0.2-0.35 acres | Lower to middle |
| Glen Allen (older), Henrico | Two-story homes and split-foyers, 1990s to 2000s | 1,700-2,200 | 3-4/2 | 0.25-0.4 acres | Upper end |
| Midlothian (older), Chesterfield | Two-story colonials and transitional homes | 2,000-2,400 | 4/2-2.5 | 0.3-0.5 acres | Top of the range or just above it |
*Square footage, bedroom counts, and lot sizes above describe the kinds of homes commonly found in each area. They are not measured averages, and there is no verified neighborhood-level median price, days on market, or price per square foot for these areas – the Central Virginia Regional MLS publishes verified data at the county and metro level only. Contact the Mission Realty Team at (804) 601-4960 for current figures on a specific address or neighborhood.
Frequently Asked Questions About Homes Between $300K and $400K in Richmond VA
What can $300,000 buy in Henrico County in 2026?
Around $300,000 in Henrico County generally buys a 3-bedroom, 1.5-2 bathroom home in the 1,400 to 1,700 square foot range on a lot of roughly 0.15 to 0.3 acres. For scale, the county median single-family sales price was $475,000 in July 2026, according to Central Virginia Regional MLS single-family data for July 2026, so $300,000 is well below the county midpoint. Neighborhoods like Sandston and parts of Highland Springs are the most realistic targets, while Glen Allen and areas closer to Short Pump usually require more for comparable square footage. Expect an older home with some original systems and finishes, and budget for near-term repairs on roofs, HVAC, or water heaters. Contact the Mission Realty Team at (804) 601-4960 for current figures on a specific address or neighborhood.
What can $350,000 buy in Chesterfield County?
Around $350,000 in Chesterfield County generally buys a 3 to 4 bedroom, 2 to 2.5 bathroom home in the 1,800 to 2,100 square foot range on a lot of roughly 0.25 to 0.4 acres. Chester and parts of central Chesterfield are the strongest matches. The county median single-family sales price was $440,000 in July 2026, according to Central Virginia Regional MLS single-family data for July 2026, so $350,000 buys below the county midpoint. Homes at this level are more likely to have updated kitchens, newer systems, two-car garages, and larger secondary bedrooms than homes at the bottom of the range, though condition varies house by house.
Is $400,000 a good budget for a family home in Richmond’s suburbs?
Yes, $400,000 is generally a strong budget for a family home in Henrico or Chesterfield County, and it commonly reaches homes in the 2,000 to 2,400 square foot range with 4 bedrooms and 2.5 bathrooms. It is still below the county median single-family sales price of $475,000 in Henrico and $440,000 in Chesterfield in July 2026, according to Central Virginia Regional MLS single-family data for July 2026. At this level, buyers can access neighborhoods like Midlothian and eastern Glen Allen with larger lots (0.3-0.5 acres) and more updated finishes. It’s the price point where most of the tradeoffs common at $300K, like small lots or dated kitchens, start to disappear. The Mission Realty Team considers $400K the practical ceiling for this “move-up starter home” category in these two counties.
What is the typical square footage of a $300K-$400K home in Henrico and Chesterfield?
Across this price band, the homes buyers see most often run from about 1,500 square feet at the low end to about 2,300 square feet at the high end. That describes the housing stock rather than a measured average, since no verified square footage or price per square foot statistic is published at the price-band level. What you get depends heavily on neighborhood, age of the home, and whether a basement is finished. Homes closer to $300,000 tend to be single-story ranches or split-levels, while homes closer to $400,000 are more often two-story colonials. Lot size tends to increase alongside square footage in this range as well.
How much is the down payment needed for a $350,000 house?
A conventional loan typically requires 5-20% down on a $350,000 house, meaning $17,500 to $70,000, while FHA loans allow as little as 3.5% down ($12,250) and VA loans can allow $0 down for eligible veterans. The exact amount affects both your upfront cash needed and your monthly payment through private mortgage insurance (PMI) if you put down less than 20%. Buyers using Virginia Housing down payment assistance programs may be able to reduce upfront cash even further. The Mission Realty Team works with several local lenders who can model out multiple down payment scenarios side by side.
What is the property tax rate in Henrico County versus Chesterfield County?
Both counties set a real estate tax rate annually, expressed as a dollar amount per $100 of assessed value, and Henrico County’s rate has generally been a little lower than Chesterfield County’s. Because the rates are reset each year by each county’s Board of Supervisors and the bill depends on the county’s assessed value rather than your purchase price, we do not publish rate figures here. Confirm the current rate and assessment directly with Henrico County or Chesterfield County. This difference is one reason the Mission Realty Team encourages side-by-side monthly payment comparisons rather than comparing sale prices alone.
How should I estimate the monthly payment on a $375,000 home?
Ask a lender for a current quote rather than relying on a published figure, because mortgage rates change constantly and even a small move in the rate changes the payment. The payment has four parts: principal and interest, which depend on the loan amount and the rate you lock; property taxes, which depend on the county rate and the assessed value; homeowners insurance; and mortgage insurance, which applies on conventional loans until you reach 20% equity and does not apply on VA loans at all. Putting 20% down eliminates private mortgage insurance and lowers the monthly cost. The Mission Realty Team can connect you with local lenders who will model several down payment scenarios side by side.
Are there new construction homes available under $400,000 in Henrico or Chesterfield?
New construction under $400,000 is hard to find in Henrico and Chesterfield County, and most new detached subdivisions price above that. Townhomes and other attached new construction are the likeliest options near the top of this budget, and buyers set on new construction sometimes look further out toward Powhatan, Amelia, or eastern Hanover County. Builder pricing changes with each phase and is not published as verified market data, so contact the Mission Realty Team at (804) 601-4960 for current figures on a specific address or neighborhood. For most buyers in this price range within Henrico and Chesterfield proper, resale homes built between 1985 and 2015 offer significantly more square footage per dollar.
What neighborhoods in Glen Allen are affordable under $400,000?
Older sections of Glen Allen away from Wyndham and the immediate Short Pump corridor are the most realistic place to look under $400,000. These areas generally feature 3-4 bedroom homes from the 1990s and 2000s on lots between a quarter and four-tenths of an acre. Newer or larger Glen Allen homes, especially those in the most sought-after school zones, often exceed $400,000. No verified median sales price is published for Glen Allen specifically, because the Central Virginia Regional MLS reports at the county and metro level. Contact the Mission Realty Team at (804) 601-4960 for current figures on a specific address or neighborhood.
How big are typical lot sizes for homes in this price range?
Lot sizes for $300,000-$400,000 homes in Henrico and Chesterfield typically range from about 0.15 acres for in-town or older subdivision lots up to about 0.5 acres for homes at the top of the range in areas like Midlothian. As a general pattern, lot size increases alongside both price and distance from Richmond’s urban core. Buyers prioritizing yard space over square footage sometimes trade a smaller home for a bigger lot within the same budget. Corner lots and cul-de-sac lots tend to run larger than interior lots in the same subdivision.
Should I buy a fixer-upper or a move-in-ready home at $300,000-$400,000?
Whether to buy a fixer-upper or a move-in-ready home depends on your cash reserves and timeline. Move-in-ready homes generally command a premium over comparable homes needing updates, though the size of that premium varies house by house and is not published as verified market data. A fixer-upper can offer more square footage or a better lot for the same price, provided you have cash available for renovations on top of your down payment and closing costs. Move-in-ready homes reduce risk and let you avoid financing complications like FHA 203(k) loans. The Mission Realty Team can help estimate renovation costs during the offer process so you’re comparing true all-in costs, not just sticker price.
How competitive is the $300,000-$400,000 market in Richmond’s suburbs right now?
The $300,000-$400,000 range draws a wide pool of qualified buyers, including first-time buyers, move-up buyers, and downsizers, and the broader market has been moving quickly. In July 2026 the median single-family home took 16 days to sell in Henrico County and 21 days in Chesterfield County, with 1.5 and 1.8 months of supply respectively, according to Central Virginia Regional MLS single-family data for July 2026. Those are county-wide figures rather than figures for this price band or for any one school zone. Homes needing significant work or located on busier roads tend to sit longer and see more price flexibility. The Mission Realty Team recommends having financing fully pre-approved before touring homes in this range given how quickly good listings move.
What credit score do I need to buy a $350,000 home?
Conventional loans generally require a minimum credit score of 620, though rates improve meaningfully above 740. FHA loans allow scores as low as 580 with 3.5% down, or even 500-579 with 10% down under certain guidelines. VA loans don’t have a strict government-set minimum, but most lenders look for at least 580-620. A higher credit score can lower the rate a lender offers you, which reduces the monthly payment compared with a borderline-qualifying score. Ask your lender to quote the same loan at a couple of credit tiers so you can see the difference for your own numbers.
Is it better to buy in Henrico or Chesterfield County at this price point?
Neither county is universally “better” at this price point; the right choice depends on commute, schools, and lot preferences. Henrico has generally had the slightly lower tax rate of the two and sits closer to Short Pump and western Richmond amenities, while Chesterfield tends to offer larger lots. Chesterfield is also the busier market of the two: it recorded 407 single-family closed sales in July 2026 against 287 in Henrico, and its median sales price was lower, $440,000 versus $475,000, according to Central Virginia Regional MLS single-family data for July 2026. Verified inventory counts are not published by price band. Both counties have strong-performing school zones and weaker ones, so the “county” question usually matters less than the specific neighborhood and zone. The Mission Realty Team typically walks buyers through both counties side by side using their actual commute and school priorities rather than county reputation alone.
What are closing costs on a $375,000 home in Virginia?
Closing costs in Virginia typically run 2-5% of the purchase price, so a $375,000 home might carry $7,500 to $18,750 in closing costs depending on loan type, lender fees, and whether the seller contributes a credit. Virginia also charges a grantor’s tax and recordation taxes that add to closing costs compared to some other states. Buyers can often negotiate for the seller to cover part of these costs, particularly in a balanced or buyer-favorable market. The Mission Realty Team provides a detailed closing cost worksheet specific to each offer so there are no surprises at the settlement table.
Find Your $300K-$400K Home in Henrico or Chesterfield
The Mission Realty Team specializes in helping buyers navigate exactly this price range across Henrico and Chesterfield County, from identifying the neighborhoods with the best value to negotiating repairs after inspection. Reach out to the Mission Realty Team today to get matched with current listings that fit your specific budget, square footage, and neighborhood priorities.
