$350K-$450K in Richmond VA: New Construction vs Resale and What Specs Come With Each
Published median sale prices and price per square foot, by ZIP code and county
In the Richmond VA metro, $350,000 to $450,000 is the band that straddles nearly every published local median, which is why it reaches the widest slice of inventory. Over the three months ending June 2026, per Redfin, median sale prices were $364,918 in ZIP 23223 (202 homes sold), $384,913 in 23294 (45 sold), $387,407 in 23227 (97 sold), $416,640 in Henrico County (480 sold), $429,766 in the City of Richmond (959 sold), $438,762 in Chesterfield County (607 sold) and $449,898 in ZIP 23235 (143 sold), all covering every property type. Central Virginia Regional MLS, which reports closed single-family sales only, put the Richmond Metro’s July 2026 median at $460,000 on 1,049 closings with a median 19 days on market and 1.8 months of supply. Homes in this band are commonly 1,600 to 2,300 square feet with three or four bedrooms and two baths. This guide converts the budget into square footage using published median price per square foot for each submarket, and compares new construction with resale using the only age data that exists at locality level.
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In the Richmond VA market, a budget of $350,000 to $450,000 sits right on top of the metro’s published medians, which is the simplest explanation for why it reaches so much inventory. Over the three months ending June 2026, per Redfin, Henrico County’s median sale price was $416,640 across 480 homes sold, the City of Richmond’s was $429,766 across 959 homes sold and Chesterfield County’s was $438,762 across 607 homes sold. All three fall inside this band. Redfin’s figures cover all property types, so they include condos and townhomes alongside detached houses.
Central Virginia Regional MLS, which counts closed single-family sales only, tells a consistent but not identical story for July 2026: a $460,000 median across the Richmond Metro on 1,049 closings with a median 19 days on market and 1.8 months of supply, and $430,000 across the entire MLS footprint on 1,573 closings at 25 days. County by county, CVR MLS reports $440,000 for Chesterfield on 407 closings, $475,000 for Henrico on 287 closings and $450,000 for Richmond City on 218 closings. The gap between the CVR MLS and Redfin figures for the same county is a property-type and period difference, not a contradiction – always check which one you are reading before comparing them.
The most useful figure for this band is median sale price per square foot, because it converts a budget into space. Over the three months ending June 2026, per Redfin, that was $215 in Chesterfield County, $237 in Henrico County and $276 in the City of Richmond, plus $207 in ZIP 23294, $227 in 23235 and $259 in 23227. This guide uses those published figures rather than estimates. It quotes no interest rates and no monthly payments – a lender is the right source for both, and for confirming current program terms.
What Square Footage Does $350K-$450K Buy in Richmond?
Divide the budget by the published median price per square foot and you get a defensible answer instead of a guess. Over the three months ending June 2026, per Redfin, the median sale price per square foot was $215 in Chesterfield County, $237 in Henrico County and $276 in the City of Richmond. As explicitly hypothetical arithmetic, $400,000 works out to roughly 1,860 square feet at Chesterfield’s figure, about 1,690 at Henrico’s and about 1,450 in the city.
Run the ends of the band the same way and the spread becomes obvious: $350,000 corresponds to roughly 1,630 square feet in Chesterfield, 1,480 in Henrico and 1,270 in the city, while $450,000 corresponds to roughly 2,090, 1,900 and 1,630. ZIP-level figures sharpen it further – $207 per square foot in 23294, $227 in 23235, $233 in 23238, $241 in 23233 and $259 in 23227, against $301 in 23229. Each of those rests on a homes-sold count Redfin publishes alongside it: 45 sales in 23294, 143 in 23235, 125 in 23238, 162 in 23233, 97 in 23227 and 161 in 23229. The 45 sales behind 23294 are a thin sample; the 162 behind 23233 are not.
Physically, homes in this band commonly run 1,600 to 2,300 square feet with three or four bedrooms and two to two and a half baths. Townhomes and larger condos also sit inside the band and commonly deliver more interior square footage per dollar than a detached house, at the cost of yard space. Redfin’s ZIP medians already include those property types, which is part of why a ZIP median can read lower than the detached houses you actually tour in the same ZIP.
Which Richmond-Area ZIP Codes Have Medians in the $350K-$450K Range?
Four published ZIP medians land inside or at the edges of this band. Over the three months ending June 2026, per Redfin: 23223, covering Church Hill and much of the East End, at $364,918 on 202 homes sold with a median 19 days on market; 23294, west of the city, at $384,913 on 45 homes sold at 14 days; 23227 on the Northside at $387,407 on 97 homes sold at 15 days; and 23235, toward Midlothian, at $449,898 on 143 homes sold at 8 days, the fastest in the Richmond-area set. The 45-sale count in 23294 is small enough to treat as a snapshot rather than a trend.
County and city medians land in the band too: Henrico County at $416,640 on 480 homes sold, the City of Richmond at $429,766 on 959 homes sold and Chesterfield County at $438,762 on 607 homes sold, all over the same three months per Redfin. Hanover County sits just above at $478,650 on 181 homes sold. What this band does not reach at median is the west end of the city: The Fan at $714,751 on 66 sales, ZIP 23221 at $687,345 on 88 sales, ZIP 23226 at $669,849 on 103 sales and the Museum District at $642,277 on 37 sales.
Named subdivisions are commonly cited for this band – Woodlake, Brandermill, Foxcreek, Magnolia Green, Glen Allen, Highland Springs, Sandston – but no free public source publishes a median sale price for an individual subdivision, and Redfin has no ZIP page for 23150 or 23075. Treat any subdivision-level median you are quoted as an agent’s read on comparable sales, not a published statistic. Walk Score, which does publish at neighborhood level, rates the City of Richmond 51 overall, Church Hill 82, the Museum District 89, The Fan 93 and Carytown 94, though its pages carry stale map credits, so read the scores as approximate.
What Age and Condition of Home Should I Expect at This Price Point?
The one published figure on housing age is median year built by locality, from the U.S. Census Bureau’s American Community Survey 2020-2024 five-year estimates: 1990 in Chesterfield County, 1985 in Henrico County, 1991 in Hanover County, 1996 in Powhatan County, 2000 in Goochland County and 1959 in the City of Richmond. Those are multi-year averages covering the entire housing stock rather than current-market figures, but they explain the pattern buyers notice on tour: suburban inventory in this band is commonly 1980s through 2000s construction, while city inventory in this band is commonly mid-century or older.
In that stock, expect original or once-updated kitchens and baths, and at least one major system – roof, HVAC, water heater or electrical panel – somewhere in the second half of its service life. No public source publishes condition data, system age or repair costs for Richmond-area homes, so any specific repair budget quoted to you is an estimate rather than a measurement. Broad hedged expectations are fair; a precise dollar figure before an inspection is not.
Speed is an indirect condition signal. Over the three months ending June 2026, per Redfin, median days on market was 8 in 23235, 12 in the City of Richmond, 13 in Henrico County, 17 in Chesterfield County and 19 in 23223. Central Virginia Regional MLS reports a 19-day median for closed single-family sales across the Richmond Metro in July 2026 and 25 days across the full MLS footprint. Where homes sit longer than their submarket median, condition or pricing is usually the reason, and that is where an inspection contingency carries the most negotiating weight.
New Construction vs Resale at $350K-$450K: How Do You Compare Them?
The counties with the newest housing stock are also the most expensive, which is the central tension in this comparison. Goochland County’s ACS median year built is 2000 and Powhatan County’s is 1996, but their median sale prices over the three months ending June 2026 were $705,485 on 63 homes sold and $633,214 on 51 homes sold respectively, per Redfin – both well above this band. Chesterfield County, ACS median year built 1990, is where this budget and newer construction actually overlap, at a $438,762 median on 607 homes sold and $215 per square foot.
Inventory also behaves differently in the newer-stock counties. Central Virginia Regional MLS reports 2.8 months of supply in Goochland and 3.1 in Powhatan for July 2026, against 1.8 in Chesterfield and 1.5 in Henrico, with median days on market of 30 in Goochland and 22 in Powhatan versus 21 in Chesterfield and 16 in Henrico. More supply and slower turnover is the buyer-friendlier combination, but it sits at price points above this band – Goochland’s CVR MLS single-family median was $655,000 on 44 closings and Powhatan’s was $486,250 on 46 closings.
The tradeoffs themselves are structural rather than statistical. New construction commonly brings modern finishes, current-code systems and a builder warranty, commonly on a smaller lot. Resale commonly brings a larger lot, mature trees and an established street, with aging systems and less predictable maintenance. No free public source publishes a Richmond-area split of sales by new versus resale, so a builder’s actual closed prices in the last completed phase and the real closed comps in a specific community are the only reliable inputs.
What Lot Size and Garage Space Come With a $350K-$450K Richmond Home?
Lot size is a good example of something buyers care about that no public source publishes for the Richmond area. Commonly, suburban Chesterfield and Henrico listings in this band sit on roughly 0.2 to 0.4 acres, while City of Richmond listings in the same budget commonly sit on 0.1 to 0.15 acres. Those are commonly seen ranges drawn from listing practice, not measured medians, and the only way to confirm one is the assessor record for the specific parcel.
What is published is a reasonable proxy for how suburban a locality is. ACS 2020-2024 five-year estimates put owner occupancy at 76.7% in Chesterfield County, 82.1% in Hanover, 84.9% in Goochland and 93.2% in Powhatan, against 64.5% in Henrico and 43.5% in the City of Richmond. Higher owner occupancy tracks with detached houses on larger parcels, which is where garages and fenced yards live. Mean commute moves in the same direction: 22.6 minutes for the City of Richmond, 24.1 for Henrico, 27 for Hanover, 28.1 for Chesterfield, 29.9 for Goochland and 32.6 for Powhatan, each carrying an ACS margin of error of at least 10 percent of the total value.
Garage space follows the same geography. Commonly, a one-car garage or carport appears at the lower end of this band in suburban submarkets and a two-car garage becomes common toward the top of it, while city properties in this budget commonly offer off-street parking or a driveway rather than a garage. Decks and patios are common on newer or updated homes and a frequent future improvement on older ones. Treat all of these as commonly seen features, because garage bays, deck presence and lot acreage are not published in any free local dataset.
How Tight Is Supply in the $350K-$450K Band in Richmond?
Measure competition with metrics that are actually published. On the sale side, Central Virginia Regional MLS reports for July 2026: 1.8 months of supply and a median 19 days on market across the Richmond Metro on 1,049 closings; 1.5 months and 16 days in Henrico County on 287 closings; 1.8 months and 21 days in Chesterfield County on 407 closings; and 1.5 months and 17 days in Richmond City on 218 closings. Anything well under six months of supply is generally read as a seller’s market, so this is a tight one across the board.
Redfin’s closed-sale figures for the three months ending June 2026 agree in direction: a median 12 days on market in the City of Richmond, 13 in Henrico County and 17 in Chesterfield County, with ZIP 23235 at 8 days. On the listing side, Realtor.com data published through FRED showed 3,081 active listings across the Richmond metro in July 2026 with 1,722 new listings and 2,436 pending, plus 945 active listings in Chesterfield County with 620 new and 857 pending. Listing-side days on market runs far longer than sale-side – 40 days for the metro – because it counts everything still sitting unsold.
What this post will not tell you is how many offers a home receives, how far above asking it closes or what share of listings sell above list. None of those are published by any free public source at a local level, so any figure you see for them here has been invented rather than measured. Practical preparation is still the right response to a 12-to-19-day median: full mortgage pre-approval before touring, and a decision framework settled before the listing appears.
| Geography | Median Sale Price | Homes Sold | Median Days on Market | Median $/Sq Ft | Approx Sq Ft at $400,000 |
|---|---|---|---|---|---|
| 23223 – Church Hill and East End | $364,918 | 202 | 19 | $232 | about 1,720 |
| 23294 – west of the city | $384,913 | 45 | 14 | $207 | about 1,930 |
| 23227 – Northside | $387,407 | 97 | 15 | $259 | about 1,545 |
| Henrico County | $416,640 | 480 | 13 | $237 | about 1,690 |
| City of Richmond | $429,766 | 959 | 12 | $276 | about 1,450 |
| Chesterfield County | $438,762 | 607 | 17 | $215 | about 1,860 |
| 23235 – Midlothian side | $449,898 | 143 | 8 | $227 | about 1,760 |
| Hanover County | $478,650 | 181 | 17 | $233 | about 1,715 |
Median sale price, homes sold, median days on market and median price per square foot are all for the three months ending June 2026, per Redfin, covering all property types. Redfin’s note on these pages reads: based on Redfin calculations of home data from MLS and/or public records. The final column is explicitly hypothetical arithmetic – $400,000 divided by the median price per square foot – not a measured median square footage. Central Virginia Regional MLS single-family medians for July 2026 are different figures and are quoted separately above.
Frequently Asked Questions About $350K-$450K Homes in Richmond VA
What can I buy for $400,000 in Richmond VA?
Convert the budget with published price per square foot. Over the three months ending June 2026, per Redfin, the median sale price per square foot was $215 in Chesterfield County, $237 in Henrico County and $276 in the City of Richmond, so $400,000 corresponds to roughly 1,860, 1,690 and 1,450 square feet respectively as explicitly hypothetical arithmetic. At that budget you are at or just under the median for Henrico County ($416,640 on 480 homes sold), the City of Richmond ($429,766 on 959 sold) and Chesterfield County ($438,762 on 607 sold). Homes in the band commonly have three or four bedrooms and two to two and a half baths.
Which Richmond-area ZIP codes have medians in the $350,000 to $450,000 range?
Over the three months ending June 2026, per Redfin: 23223 at $364,918 on 202 homes sold, 23294 at $384,913 on 45 sold, 23227 at $387,407 on 97 sold and 23235 at $449,898 on 143 sold. Henrico County, the City of Richmond and Chesterfield County also have medians inside the band, at $416,640, $429,766 and $438,762. Redfin publishes no ZIP-level median for Sandston (23150) or Highland Springs (23075), and no source publishes a median for an individual subdivision such as Woodlake or Magnolia Green.
How long do homes take to sell in the Richmond area?
Median days on market over the three months ending June 2026, per Redfin, was 8 in ZIP 23235, 12 in the City of Richmond, 13 in Henrico County, 14 in 23294, 15 in 23227, 17 in Chesterfield County and 19 in 23223. Central Virginia Regional MLS reports a 19-day median for closed single-family sales across the Richmond Metro in July 2026 and 25 days across the full MLS footprint. Listing-side days on market from Realtor.com via FRED is much longer, 40 days for the metro in July 2026, because it measures unsold inventory rather than completed sales.
Is new construction available in the $350K-$450K range in Richmond?
Some, and it concentrates in Chesterfield County, whose ACS 2020-2024 median year built is 1990 and whose median sale price was $438,762 on 607 homes sold over the three months ending June 2026, per Redfin. The counties with genuinely newer stock price above this band: Goochland has an ACS median year built of 2000 and a $705,485 median sale price on 63 sales, and Powhatan is 1996 with a $633,214 median on 51 sales. No free public source publishes a Richmond-area split of new construction versus resale, so ask a builder for closed prices in the last completed phase.
What is the median price per square foot in the Richmond area?
Over the three months ending June 2026, per Redfin: $276 in the City of Richmond, $237 in Henrico County, $233 in Hanover County, $215 in Chesterfield County, $255 in Goochland County and $250 in Powhatan County. At ZIP level in the same period: $207 in 23294, $227 in 23235, $232 in 23223, $233 in 23238, $241 in 23233, $259 in 23227 and $301 in 23229. All are all-property-type medians, and Redfin publishes the homes-sold count behind each one.
How old are homes in this price range?
The only published age figure is median year built by locality, from the American Community Survey 2020-2024 five-year estimates: 1959 in the City of Richmond, 1985 in Henrico County, 1990 in Chesterfield County, 1991 in Hanover County, 1996 in Powhatan County and 2000 in Goochland County. Those are multi-year averages for the whole housing stock, not figures for this price band specifically. In practice, suburban inventory in the band is commonly 1980s through 2000s construction and city inventory is commonly mid-century or older.
Can I get a two-car garage for $400,000 in Richmond?
Commonly yes in suburban Chesterfield and Henrico submarkets, and commonly not in the City of Richmond, where properties at this budget more often offer off-street parking or a driveway. No free public source publishes garage-bay counts for the Richmond area, so this is a commonly-seen pattern rather than a measured statistic. The underlying reason is space per dollar: Chesterfield’s median was $215 per square foot over the three months ending June 2026 against $276 for the city, per Redfin.
What size lot comes with a $350,000 to $450,000 home in Richmond?
Commonly 0.2 to 0.4 acres in suburban Chesterfield and Henrico and 0.1 to 0.15 acres inside the City of Richmond, but no public source publishes median lot size for the Richmond area, so those are commonly seen ranges rather than measured figures. Check the assessor record for the specific parcel. As a proxy for how suburban a locality is, ACS 2020-2024 estimates put owner occupancy at 43.5% in the City of Richmond, 64.5% in Henrico, 76.7% in Chesterfield, 82.1% in Hanover, 84.9% in Goochland and 93.2% in Powhatan.
How tight is inventory in the Richmond market right now?
Central Virginia Regional MLS reports months of supply for July 2026 of 1.8 across the Richmond Metro, 1.5 in Henrico County, 1.8 in Chesterfield County, 1.5 in Richmond City, 2.4 in Hanover, 2.8 in Goochland and 3.1 in Powhatan. On the listing side, Realtor.com data via FRED showed 3,081 active listings across the Richmond metro in July 2026, with 1,722 new listings and 2,436 pending. Anything well below six months of supply is generally read as a seller’s market. No source publishes multiple-offer rates or percent-above-asking locally, so this post does not quote them.
Which school districts serve neighborhoods in this price range?
Chesterfield County Public Schools serves Chesterfield subdivisions, Henrico County Public Schools serves Henrico neighborhoods including Glen Allen, Highland Springs and Sandston, and Richmond Public Schools serves city neighborhoods including Church Hill and the Southside. Attendance zones change between years, so verify the current zone for a specific address with the district before relying on it. This post publishes no school ratings, rankings or test scores.
What is the difference between buying at $350,000 and $450,000 in Richmond?
Using published median price per square foot for the three months ending June 2026, per Redfin, the $100,000 difference converts to roughly 465 additional square feet at Chesterfield County’s $215, about 420 at Henrico County’s $237 and about 360 at the City of Richmond’s $276 – all explicitly hypothetical arithmetic. In practice that difference commonly shows up as an extra bedroom or a finished bonus space, a second garage bay in suburban submarkets, and a better chance that a major system has already been replaced. None of those feature patterns are published in a dataset, so treat them as commonly seen rather than measured.
Are townhomes a good option in the $350K-$450K range?
Townhomes commonly deliver more interior square footage per dollar than a detached house in the same band, with less private yard space and, usually, an HOA fee. It is worth knowing that Redfin’s ZIP and county medians include townhomes and condos, while the Central Virginia Regional MLS figures quoted in this post are single-family only, with attached homes reported in a separate CVR MLS table. That property-type difference is one reason the two sources report different medians for the same county.
How should I prepare to compete for a home in this price range?
Get full mortgage pre-approval before touring, set up listing alerts, and decide your criteria in advance, because median days on market in this market ran 12 days in the City of Richmond, 13 in Henrico County and 17 in Chesterfield County over the three months ending June 2026, per Redfin, with 1.5 to 1.8 months of supply per Central Virginia Regional MLS for July 2026. Also confirm current rates, program terms and eligibility with a lender rather than an article – the 2026 conforming one-unit limit for every Richmond MSA county is $832,750 and the FHA forward one-unit limit for the metro is $707,250, both far above this band.
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