What $300K-$400K Gets You in Henrico and Chesterfield County Right Now
A real, numbers-first 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, with monthly payments (principal, interest, taxes, and insurance) generally landing between $2,300 and $2,900 depending on down payment and interest rate. This guide from the Mission Realty Team breaks down exactly what square footage, lot size, features, and financing look like at every $25,000 increment in this range, compares real neighborhood examples side by side, and answers the most common questions buyers search for when house hunting at this price point in the Richmond VA suburbs.
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: As of mid-2026, $300,000 to $400,000 is the true middle of the Richmond-area suburban market, and in Henrico and Chesterfield County specifically, 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 Mission Realty Team pulled recent closed and active listings across both counties to build the numbers in this guide, because generic national averages don’t reflect what’s actually happening street-by-street in Glen Allen versus Chester versus Midlothian. 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. With a 10% down payment on a $350,000 home at a 6.5% rate, buyers are looking at roughly $2,550 to $2,700 per month including estimated property taxes and homeowners insurance, and Henrico and Chesterfield’s property tax rates (currently around $0.85-$0.87 and $0.93-$0.95 per $100 of assessed value respectively, though rates are set annually and buyers should verify current rates) mean monthly tax escrow differs meaningfully between the two counties even on an identically priced home. The Mission Realty Team walks through those differences below.
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: On a $310,000 purchase with 5% down at a 6.5% rate, expect a monthly payment (PITI) of roughly $2,150-$2,300. FHA loans are common in this range because of the lower down payment requirement, 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 typically adds 150-300 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 roughly 4 in 10 listings in this band have had at least a partial kitchen or bath update in the last decade.
Financing considerations: A $335,000 purchase with 10% down at 6.5% runs approximately $2,250-$2,400 per month PITI. Conventional loans with private mortgage insurance (PMI) are common here; PMI typically adds $100-$180/month until 20% equity is reached.
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 appear in roughly half of listings, two-car garages become more common, and HVAC systems tend to be newer (5-15 years old) since more sellers have replaced major systems before listing.
Financing considerations: A $362,000 home with 10% down at 6.5% runs approximately $2,450-$2,600/month PITI. This is also the range where jumbo loan thresholds are irrelevant (conforming limits are far higher), so buyers have full access to conventional, FHA, and VA products.
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 5-8 years.
Financing considerations: A $390,000 purchase with 10% down at 6.5% runs approximately $2,700-$2,900/month PITI, including an estimated $340-$400/month in escrowed property taxes depending on county and assessed value. Buyers putting down 20% ($78,000) avoid PMI entirely, dropping the payment closer to $2,450-$2,600/month.
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-2000s, 1,700-2,200 sq ft, lots around 0.25-0.4 acres, typically priced $340,000-$395,000. Highly rated Henrico schools make this the most competitive pocket in the county at this price.
Sandston: 3 bed, 1.5-2 bath homes, 1,300-1,700 sq ft, lots often 0.2-0.3 acres, typically priced $290,000-$335,000. Close to Richmond International Airport and I-64, 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, typically priced $310,000-$360,000.
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, typically priced $315,000-$370,000. 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, typically priced $295,000-$340,000.
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, typically priced $375,000-$400,000+. This is where the top of the $300K-$400K range stretches thinnest, and buyers often need to be near $400K to compete.
| Area / Example | Typical Price | Sq Ft | Bed/Bath | Lot Size | Est. Monthly PITI* |
|---|---|---|---|---|---|
| Sandston, Henrico | $290K-$335K | 1,300-1,700 | 3/1.5-2 | 0.2-0.3 acres | $2,100-$2,350 |
| Bensley, Chesterfield | $295K-$340K | 1,400-1,750 | 3/1.5-2 | 0.2-0.3 acres | $2,150-$2,400 |
| Chester, Chesterfield | $315K-$370K | 1,600-2,000 | 3/2 | 0.25-0.4 acres | $2,300-$2,650 |
| Highland Springs, Henrico | $300K-$350K | 1,500-1,850 | 3/1.5-2 | 0.2-0.35 acres | $2,200-$2,500 |
| Glen Allen (older), Henrico | $340K-$395K | 1,700-2,200 | 3-4/2 | 0.25-0.4 acres | $2,500-$2,850 |
| Midlothian (older), Chesterfield | $375K-$400K+ | 2,000-2,400 | 4/2-2.5 | 0.3-0.5 acres | $2,750-$2,950 |
*Estimated principal, interest, taxes, and insurance based on 10% down and a 6.5% 30-year fixed rate as of mid-2026. Actual payments vary by credit score, loan type, insurance carrier, and final assessed value. The Mission Realty Team can provide a personalized payment estimate for any specific listing.
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 typically buys a 3-bedroom, 1.5-2 bathroom home between 1,400 and 1,700 square feet on a lot of 0.15 to 0.3 acres. Neighborhoods like Sandston and parts of Highland Springs are the most realistic targets at this price, since Glen Allen and areas closer to Short Pump generally require $340,000 or more for comparable square footage. Expect a home built between 1970 and 1995 with some original systems and finishes. The Mission Realty Team recommends budgeting for near-term repairs on roofs, HVAC, or water heaters when buying at this entry-level price point.
What can $350,000 buy in Chesterfield County?
Around $350,000 in Chesterfield County typically buys a 3 to 4 bedroom, 2 to 2.5 bathroom home between 1,800 and 2,100 square feet on a lot of 0.25 to 0.4 acres. Chester and parts of central Chesterfield are the strongest matches at this price. Many homes in this range have updated kitchens and newer HVAC systems compared to homes $50,000 cheaper. This price point also opens up two-car garages and larger secondary bedrooms more consistently.
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, typically buying 2,000-2,400 square feet with 4 bedrooms and 2.5 bathrooms. 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 average square footage of a $300K-$400K home in Henrico and Chesterfield?
Across this price band, average square footage runs from about 1,500 square feet at the low end to about 2,300 square feet at the high end. The exact number 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?
Henrico County’s real estate tax rate has generally run around $0.85-$0.87 per $100 of assessed value, while Chesterfield County’s rate has generally run around $0.93-$0.95 per $100 of assessed value in recent years. On a $370,000 assessed home, that’s roughly a $300-$370 annual difference, or about $25-$30 per month. Rates are set annually by each county’s Board of Supervisors, so buyers should always confirm the current rate before finalizing a budget. This difference is one reason the Mission Realty Team encourages side-by-side monthly payment comparisons rather than comparing sale prices alone.
What monthly payment should I expect on a $375,000 home?
On a $375,000 home with 10% down at a 6.5% interest rate, expect a monthly payment (principal, interest, taxes, and insurance) of roughly $2,600-$2,750. Putting 20% down instead lowers that to approximately $2,350-$2,500 by eliminating private mortgage insurance. The exact number shifts based on which county the home is in, since Chesterfield’s higher tax rate adds a modest amount compared to Henrico. Rate changes of even a quarter point can shift the payment by $50-$60 per month, so buyers should get a current rate quote before setting a firm budget.
Are there new construction homes available under $400,000 in Henrico or Chesterfield?
New construction under $400,000 is increasingly rare in Henrico and Chesterfield County, with most new subdivisions starting in the $420,000s and up as of 2026. Townhomes and some attached-product new construction can occasionally be found closer to $350,000-$390,000 in outer Chesterfield. Buyers set on new construction under $400,000 typically need to look further out toward Powhatan, Amelia, or eastern Hanover County. 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 typically offer homes in the $340,000-$395,000 range. 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 near top-rated school zones, often exceed $400,000. The Mission Realty Team can flag specific streets and subdivisions within Glen Allen that consistently trade below the area’s overall median.
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 move-in-ready home depends on your cash reserves and timeline, but at this price point in Henrico and Chesterfield, move-in-ready homes typically cost 5-10% more than comparable homes needing updates. A fixer-upper can offer more square footage or a better lot for the same price, provided you have $15,000-$40,000 available for renovations. 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 remains one of the most competitive price bands in the Richmond suburbs because it captures the largest pool of qualified buyers, including first-time buyers, move-up buyers, and downsizers. Well-priced homes in desirable school zones like Glen Allen frequently receive offers within the first week on market. 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 your interest rate enough to reduce a $350,000 mortgage payment by $100 or more per month compared to a borderline-qualifying score.
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 tends to offer a slight tax rate advantage and stronger proximity to Short Pump and western Richmond amenities, while Chesterfield often offers larger lots and more inventory in the $300,000-$375,000 range specifically. 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.
