23221 — Richmond city, Virginia Market Snapshot
Housing market data for zip code 23221 in Richmond city, Virginia. Updated monthly with median prices, days on market, and more.
Market Sales Data
16 sales in 2026 (year to date)
Median Sale Price
$316,500
Days to Sell
11
Homes Sold
16
Inventory
1
Sale-to-List
101.9%
New Listings
15
Price/SqFt
$393
Pending Sales
17
Conforming Loan Available
Most homebuyers in 23221 can comfortably use conventional financing. The median home price of $316,500 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
23221 is an extremely competitive market with homes selling in just 11 days on average. Buyers need pre-approval letters ready before making offers.
Sale-to-List Ratio
Homes are selling very close to asking price in 23221 (101.9% sale-to-list ratio), indicating accurate pricing by sellers and steady demand.
Conforming Loan Feasibility
Most homebuyers in 23221 can comfortably use conventional financing. The median home price of $316,500 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 23221 are set at the county level.
2026 Loan Limits — Richmond city
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $707,250 |
| 2 Units | $1,066,250 | $905,400 |
| 3 Units | $1,288,800 | $1,094,450 |
| 4 Units | $1,601,750 | $1,360,100 |
Affordability Snapshot — Zip 23221
To purchase the median home at $316,500 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $2,575.
Monthly Payment
$2,575
Income Required
$110,354
Principal & Interest
$1,950/mo
Down Payment (5%)
$15,825
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 23221.
Estimated Monthly Payment
$2,109
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