$250K-$350K in Richmond VA: Real Home Examples From South Richmond to Eastern Henrico
Closed-sale data by ZIP code and what the entry-level band actually reaches
In Richmond VA, $250,000 to $350,000 is the entry-level band, and only one Richmond-area ZIP code has a median sale price inside it: 23224 in South Richmond, at $284,936 across 109 homes sold over the three months ending June 2026, per Redfin, with a median 25 days on market and a median $233 per square foot. Neighboring 23223 came in at $364,918 on 202 homes sold. For wider context over the same three months and also per Redfin, the City of Richmond’s median sale price was $429,766 on 959 homes sold, Henrico County’s was $416,640 on 480 sold and Chesterfield County’s was $438,762 on 607 sold. Redfin covers all property types, while Central Virginia Regional MLS reports single-family only and put the city’s July 2026 median at $450,000 on 218 closings. Homes in this band are commonly 1,000 to 1,700 square feet with three bedrooms and one to two baths on lots of roughly 0.1 to 0.35 acres, and commonly carry at least one aging major system. This guide covers the ZIP codes where the band actually lands, a table of published closed-sale figures, and the questions buyers ask most.
Table of Contents
Right now in the Richmond VA housing market, $250,000 to $350,000 is the entry-level price band, and it reaches a genuinely different product depending on where you look. The clearest way to see that is with closed-sale data at the ZIP level. Over the three months ending June 2026, per Redfin, the median sale price in South Richmond’s 23224 was $284,936 across 109 homes sold, up 9.6% year over year, with a median 25 days on market and a median $233 per square foot. One ZIP over, 23223, covering Church Hill and much of the East End, posted a $364,918 median on 202 homes sold, a median 19 days on market and $232 per square foot. Redfin’s figures cover all property types, not single-family only.
For the wider market, the City of Richmond’s median sale price over the three months ending June 2026 was $429,766 on 959 homes sold, per Redfin. Central Virginia Regional MLS reports a $450,000 median for closed single-family sales in the city in July 2026 on 218 closings, with a median 17 days on market and 1.5 months of supply. Those two figures measure different things – Redfin includes condos and townhomes, CVR MLS is single-family only – which is exactly why they should never be compared without a label. Over the same Redfin period, Chesterfield County’s median was $438,762 on 607 homes sold and Henrico County’s was $416,640 on 480 homes sold. A $250K-$350K budget sits below all of them, which tells you plainly that this band shops the lower half of most ZIP codes.
Financing details matter in this band. FHA requires 3.5% down, VA loans allow 0% down for eligible veterans, and Virginia Housing runs down payment and closing cost assistance for the Richmond MSA with a $550,000 sales price limit and grant-program income limits of $96,000 for households of two or fewer and $110,000 for three or more people, effective August 1, 2026. Virginia Housing homebuyer education classes are free. Confirm current terms, rates and eligibility with a lender – this post quotes no interest rates and no monthly payments. Local real estate tax rates also differ: Chesterfield County is $0.89 per $100 of assessed value for 2026 and Powhatan County is $0.77 for 2026, the two Richmond-area localities that state an explicit tax year, while Henrico publishes $0.83 and Hanover $0.81 without one. The City of Richmond’s rate page states no tax year, so confirm the current city rate with Richmond Finance before budgeting.
What Do Homes Actually Sell For in South Richmond ZIP 23224?
South Richmond’s 23224 is the most affordable ZIP code in the city core and the only one in the Richmond-area set whose median lands inside this price band. Over the three months ending June 2026, per Redfin, its median sale price was $284,936 across 109 homes sold, up 9.6% year over year, with a median 25 days on market and a median $233 per square foot. Redfin’s ZIP figures cover all property types. Those 25 days are the slowest of the twelve Richmond-area ZIP codes Redfin publishes, which from a buyer’s side is not a weakness – it is where negotiating room lives.
The housing stock here is commonly brick bungalows, Cape Cods and small ranches from the middle of the twentieth century, commonly 1,000 to 1,300 square feet with three bedrooms and one or two full baths, on lots of roughly 0.15 acre, often with a detached one-car garage or a rear parking pad. Original hardwood under carpet is common, and so is at least one major system – roof, HVAC or electrical panel – approaching the end of its service life. Treat all of those as commonly seen features rather than measured counts, because no public source publishes condition or system-age data.
As explicitly hypothetical arithmetic, a 1,150-square-foot home priced at the ZIP’s $284,936 median works out to roughly $248 per square foot, a little above the ZIP’s $233 median per square foot – a useful reminder that smaller homes usually carry a higher per-foot figure. For commute context, the U.S. Census Bureau’s American Community Survey 2020-2024 five-year estimates put the mean commute for City of Richmond workers at 22.6 minutes, an estimate that carries a margin of error of at least 10 percent of the total value. No commute, income or year-built data is published at neighborhood or ZIP level.
What Can $250K-$350K Reach in Eastern Henrico County?
Eastern Henrico around Sandston and Highland Springs is where this band reaches the most space, but it is also where the data thins out. Redfin publishes no ZIP-level median for 23150 or 23075, so the honest reference points are the county and the nearest published ZIP codes. Henrico County’s median sale price over the three months ending June 2026 was $416,640 across 480 homes sold, up 1.7% year over year, with a median 13 days on market and $237 per square foot, per Redfin, all property types. Central Virginia Regional MLS reports a $475,000 median for closed single-family sales in Henrico in July 2026 on 287 closings, with a median 16 days on market and 1.5 months of supply.
The two lowest published ZIP medians on the north and west side of the metro over the three months ending June 2026 were 23294 at $384,913 on 45 homes sold, at $207 per square foot, and 23227 at $387,407 on 97 homes sold, at $259 per square foot, per Redfin. The 45-sale count in 23294 is small enough to read as a snapshot rather than a trend, but its $207 median price per square foot is the lowest of any Richmond-area ZIP code in Redfin’s set – the closest thing to a documented value signal on this side of the metro.
Physically, this corridor commonly offers 1,400 to 1,650 square feet in a mid-century ranch with three bedrooms, one or two full baths, a carport or attached garage, and a lot of roughly a quarter to a third of an acre, commonly larger than a city equivalent at the same price. ACS 2020-2024 five-year estimates put Henrico County’s mean commute at 24.1 minutes and owner occupancy at 64.5%, with the commute figure carrying a margin of error of at least 10 percent of the total value. Henrico’s published real estate tax rate is $0.83 per $100 of assessed value, and because the county page does not state a tax year, confirm it before relying on it.
What Does the $250K-$350K Band Buy in Chesterfield County?
Chesterfield County’s median sale price over the three months ending June 2026 was $438,762 across 607 homes sold, essentially flat year over year, with a median 17 days on market and $215 per square foot, per Redfin, all property types. That $215 is the lowest county-level median price per square foot in the metro, which is the statistical version of what buyers notice on tour: Chesterfield delivers the most finished space per dollar. Central Virginia Regional MLS puts Chesterfield’s July 2026 closed single-family median at $440,000 on 407 closings, with a median 21 days on market and 1.8 months of supply.
The closest published ZIP-level figure to the Chester and Midlothian side of the county is 23235, at a $449,898 median on 143 homes sold over the three months ending June 2026, with a median 8 days on market – the fastest of any Richmond-area ZIP code in Redfin’s set – and $227 per square foot. A $250K-$350K budget therefore sits well below both the county median and 23235’s, which in practice means older subdivisions, split-levels and split-foyers rather than the county’s newer inventory.
Those 1970s and 1980s split-levels commonly run 1,500 to 1,650 square feet with three bedrooms, one and a half baths, a partially finished lower level used as a bonus room, and a lot of roughly a quarter to a third of an acre. Chesterfield’s real estate tax rate is $0.89 per $100 of assessed value for 2026, one of only two Richmond-area localities that prints an explicit tax year, and the county reassesses annually. ACS 2020-2024 five-year estimates put Chesterfield’s mean commute at 28.1 minutes and owner occupancy at 76.7%, with the commute figure carrying a margin of error of at least 10 percent of the total value.
Are There Condos or Townhomes Left Under $300,000 in Richmond VA?
Yes, and one reason the published ZIP medians look high next to this band is that they include condos and townhomes alongside detached houses. Redfin’s ZIP and neighborhood figures cover all property types, while the CVR MLS county figures quoted above are single-family only, with condo and townhouse sales reported in a separate CVR MLS table. So a sub-$300,000 two-bedroom condo and a high ZIP median can both be true at once: 23230 in the Near West End posted a $513,686 median on 56 homes sold over the three months ending June 2026, with a median 14 days on market and $309 per square foot, per Redfin.
Near West End and Museum District condo inventory commonly runs 850 to 1,100 square feet with two bedrooms, one or two baths, an assigned parking space and a small balcony, in buildings from the 1960s through the 1980s. Monthly HOA fees on that profile commonly fall somewhere in the $250 to $350 range and typically cover exterior maintenance, water and trash, but the fee is property-specific – read the actual budget rather than a rule of thumb. A kitchen or bath refresh in an unrenovated unit typically runs in the low five figures, and because no measured local dataset for renovation cost exists, treat any figure quoted before a contractor walks the unit as a guess.
HOA financial health matters more in this segment than almost any other single factor, which is why it is worth requesting the association’s reserve study, the last two years of meeting minutes, and proof of fidelity insurance coverage before writing an offer. Underfunded reserves are a recognized source of special assessments in older buildings. No public source publishes reserve-funding statistics for Richmond-area associations, so this is a document review rather than a data lookup.
What Do Fixer-Uppers Look Like in Church Hill and ZIP 23223?
ZIP 23223, covering Church Hill and much of the East End, is the busiest source of entry-level closings in the city: a $364,918 median sale price on 202 homes sold over the three months ending June 2026, up 10.6% year over year, with a median 19 days on market and $232 per square foot, per Redfin, all property types. The Church Hill neighborhood itself, a much smaller footprint inside that ZIP, posted a $562,304 median on just 27 homes sold at $285 per square foot over the same period, down 12.8% year over year. Read that neighborhood figure carefully: 27 sales in three months is a thin sample and the year-over-year direction is negative, so it is a snapshot, not a trend.
The gap between the ZIP median and the neighborhood median is essentially the renovation spread expressed in two numbers. Restored rowhouses on the historic blocks trade well above the wider ZIP, and the unrenovated stock is what a $250K-$350K budget reaches. Those homes commonly run 1,200 to 1,400 square feet with two or three bedrooms and one to one and a half baths, heart-pine floors and nine-foot ceilings, on narrow lots, with original or 1990s-era kitchens and baths and dated tile.
Cosmetic renovation on that profile typically runs into the tens of thousands of dollars, but no published local dataset measures renovation cost in Richmond, so get contractor bids instead of trusting a range. Financing exists for exactly this situation: FHA 203(k) and conventional renovation products roll the purchase price and the improvement budget into a single loan. Confirm current terms, limits and eligibility with a lender.
Which Richmond-Area ZIP Codes Offer the Best Value Under $350,000?
Ranked by median sale price over the three months ending June 2026, per Redfin, the most affordable published ZIP codes in the metro are 23224 at $284,936 on 109 homes sold, 23223 at $364,918 on 202 sold, 23294 at $384,913 on 45 sold and 23227 at $387,407 on 97 sold. Only 23224’s median falls inside the $250K-$350K band outright. In the other three, this budget shops the lower half of the ZIP’s inventory rather than the middle of it.
On a per-square-foot basis the ranking shifts, and that is where value actually shows up: 23294 at $207, 23223 at $232, 23224 at $233 and 23227 at $259, against $276 for the City of Richmond as a whole, $237 for Henrico County and $215 for Chesterfield County. For contrast, The Fan’s median was $367 per square foot on 66 homes sold and the Museum District’s was $414 on 37 homes sold – roughly 1.6 to 1.8 times the entry-level ZIP codes, which is a fair measure of what walkability costs here. Walk Score rates The Fan 93 and the Museum District 89 against 51 for the city overall, though Walk Score pages carry stale map credits, so treat the scores as approximate.
The pattern across the whole band is that lot size and updated mechanicals move inversely with proximity to downtown. Days on market says the same thing from the other direction: over the three months ending June 2026, 23224 ran a median 25 days, the slowest of the twelve Richmond-area ZIP codes Redfin publishes, while 23235 ran 8 days and both 23229 and 23226 ran 10. This post does not quote multiple-offer rates, percent above asking or list-to-sale ratios, because no free public source publishes any of them at ZIP or neighborhood level.
| ZIP Code or Area | Median Sale Price | Homes Sold | Median Days on Market | Median Price Per Sq Ft |
|---|---|---|---|---|
| 23224 – South Richmond | $284,936 | 109 | 25 | $233 |
| 23223 – Church Hill and East End | $364,918 | 202 | 19 | $232 |
| 23294 – west of the city | $384,913 | 45 | 14 | $207 |
| 23227 – Northside | $387,407 | 97 | 15 | $259 |
| Henrico County | $416,640 | 480 | 13 | $237 |
| City of Richmond | $429,766 | 959 | 12 | $276 |
| Chesterfield County | $438,762 | 607 | 17 | $215 |
| 23235 – Midlothian side | $449,898 | 143 | 8 | $227 |
All figures are median sale prices over the three months ending June 2026, per Redfin, covering all property types. Homes-sold counts are shown so you can judge the sample. Redfin’s note on these pages reads: based on Redfin calculations of home data from MLS and/or public records. Central Virginia Regional MLS single-family medians for July 2026 differ and are quoted separately above.
Frequently Asked Questions About Homes Under $350,000 in Richmond VA
What does the median home sell for in Richmond’s most affordable ZIP code?
ZIP 23224 in South Richmond had a median sale price of $284,936 over the three months ending June 2026 across 109 homes sold, per Redfin – the lowest of the twelve Richmond-area ZIP codes Redfin publishes. Its median days on market was 25 and its median sale price per square foot was $233. Redfin covers all property types, not single-family only. That median is the only Richmond-area ZIP median that falls inside the $250K-$350K band.
Is $350,000 enough to buy a house in Richmond right now?
It reaches real inventory, but it sits below every published city and county median in the metro. Over the three months ending June 2026, per Redfin, the City of Richmond’s median sale price was $429,766 on 959 homes sold, Henrico County’s was $416,640 on 480 sold and Chesterfield County’s was $438,762 on 607 sold. Only ZIP 23224 posted a median under $350,000, at $284,936 on 109 sales. In most other ZIP codes this budget shops the lower half of the inventory.
Which Richmond-area ZIP codes have the lowest median sale prices?
Over the three months ending June 2026, per Redfin: 23224 at $284,936 on 109 homes sold, 23223 at $364,918 on 202 sold, 23294 at $384,913 on 45 sold and 23227 at $387,407 on 97 sold. Those are all-property-type medians. Redfin publishes no ZIP-level median for Sandston (23150) or Highland Springs (23075), so no figure should be quoted for either – use closed comparable sales within a half mile instead.
How much down payment do I need for a $300,000 house in Virginia?
Program minimums are 0% down on an eligible VA loan, 3.5% down on FHA and 3% on some conventional first-time-buyer products. On a $300,000 price that is $0, $10,500 and $9,000 as explicitly hypothetical arithmetic. Virginia Housing also offers down payment and closing cost assistance in the Richmond MSA, with a $550,000 sales price limit and grant-program income limits of $96,000 for households of two or fewer and $110,000 for three or more, effective August 1, 2026. Confirm current terms and eligibility with a lender.
Are homes under $350,000 in Richmond VA move-in ready?
Some are and many are not. Homes in this band are commonly pre-1980 construction in which at least one major system – roof, HVAC, electrical panel or water heater – is near the end of its service life, and because no public source publishes condition data, this is an inspection question rather than a statistics question. Budget an inspection contingency and a repair reserve even on a listing marketed as updated. Days on market offers an indirect signal: 23224 ran a median 25 days over the three months ending June 2026, per Redfin, against 8 days in 23235.
What is the median price per square foot in Richmond’s entry-level ZIP codes?
Over the three months ending June 2026, per Redfin: $207 in 23294, $232 in 23223, $233 in 23224 and $259 in 23227. For comparison, the City of Richmond overall was $276, Henrico County $237 and Chesterfield County $215. The Fan was $367 and the Museum District $414. All are all-property-type medians, and Redfin reports the underlying homes-sold count on each page so you can judge the sample.
Can I buy a house in Richmond VA with an FHA loan?
Yes. FHA requires 3.5% down and applies more flexible credit and debt-to-income standards than conventional financing. The 2026 FHA forward one-unit loan limit for the Richmond VA metro area is $707,250, far above this price band, so the limit is not a constraint here. Homes must meet FHA minimum property standards, which can rule out a fixer-upper with structural or safety defects. Confirm current terms with a lender.
How many square feet does $300,000 buy in Richmond VA?
No source publishes a median square footage by price band, so treat any single figure as an estimate. What is published is price per square foot. At 23224’s median of $233 per square foot, $300,000 corresponds to roughly 1,290 square feet, and at Chesterfield County’s $215, roughly 1,400 square feet – both explicitly hypothetical arithmetic rather than measured medians. Suburban Chesterfield and eastern Henrico listings commonly run larger than city equivalents at the same price.
How fast are entry-level homes selling in Richmond?
Median days on market over the three months ending June 2026, per Redfin, was 25 days in 23224, 19 in 23223, 15 in 23227 and 14 in 23294, against 12 for the City of Richmond overall. Central Virginia Regional MLS reports a 17-day median for closed single-family sales in the city in July 2026, with 1.5 months of supply. No public source publishes multiple-offer rates, percent above asking or list-to-sale ratios at local level, so this post does not quote them.
What schools serve entry-level neighborhoods in Richmond and Henrico?
Richmond Public Schools serves city neighborhoods including South Richmond and Church Hill. Henrico County Public Schools serves Highland Springs and Sandston, feeding into Highland Springs High School. Chesterfield County Public Schools serves the Chester area, generally zoned to Thomas Dale High School. Attendance zones change, so verify the current zone for a specific address with the district directly. This post publishes no school ratings, rankings or test scores.
What are the real estate tax rates in the Richmond area?
Per each locality’s own published rate page: Chesterfield County is $0.89 per $100 of assessed value for 2026 and Powhatan County is $0.77 for 2026, the only two Richmond-area localities that state an explicit tax year. Henrico publishes $0.83, Hanover $0.81 and Goochland $0.53 with a $0.32 add-on inside the Tuckahoe Creek Service District, none of which state a year. The City of Richmond’s page states no tax year at all, so confirm the current city rate with Richmond Finance. Henrico, Chesterfield and Goochland reassess annually.
What is a realistic view of competition in the $250K-$350K band?
The metrics usually quoted for this – multiple-offer rates, percent above asking and list-to-sale ratios – are not published by any free public source at ZIP or neighborhood level, so any specific number you see is invented. What is measurable is speed and supply: a median 25 days on market in 23224 and 19 days in 23223 over the three months ending June 2026 per Redfin, and 1.5 months of supply for closed single-family sales in the city in July 2026 per Central Virginia Regional MLS. Together those point to a tight but not frantic entry-level market.
Should I buy a condo or a single-family home under $300,000 in Richmond?
Redfin’s ZIP medians include condos and townhomes, so a condo often prices below its ZIP median while sitting in a more walkable location. ZIP 23230 in the Near West End posted a $513,686 median on 56 homes sold at $309 per square foot over the three months ending June 2026, and as hypothetical arithmetic a 980-square-foot unit at $259,000 works out to about $264 per square foot. Against that, condos carry monthly HOA fees, commonly $250 to $350 in this profile, plus shared-building risk, and single-family homes at this price commonly need more system work. Review the association’s reserve study and minutes before deciding.
Where in the Richmond metro does this budget stretch furthest?
On published median price per square foot, 23294 at $207 and Chesterfield County at $215 over the three months ending June 2026, per Redfin, give the most space per dollar. On outright price, 23224 at a $284,936 median is the only ZIP whose median sits inside the band. Sandston, Highland Springs and Chester are often recommended for value, but no ZIP-level median is published for them, so compare actual closed sales within a half mile instead of a neighborhood average. ACS 2020-2024 five-year estimates put mean commute at 22.6 minutes for the City of Richmond, 24.1 for Henrico and 28.1 for Chesterfield, each with a margin of error of at least 10 percent of the total value.
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