23223 — Richmond city, Virginia Market Snapshot
Housing market data for zip code 23223 in Richmond city, Virginia. Updated monthly with median prices, days on market, and more.
Market Sales Data
168 sales in 2026 (year to date)
Median Sale Price
$351,000
Days to Sell
21
Homes Sold
168
Inventory
96
Sale-to-List
99.9%
New Listings
227
Price/SqFt
$232
Pending Sales
206
Conforming Loan Available
Most homebuyers in 23223 can comfortably use conventional financing. The median home price of $351,000 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
Homes in 23223 are moving quickly at 21 days on market, indicating healthy buyer demand. Well-priced homes are likely seeing multiple offers.
Sale-to-List Ratio
Homes are selling very close to asking price in 23223 (99.9% sale-to-list ratio), indicating accurate pricing by sellers and steady demand.
Conforming Loan Feasibility
Most homebuyers in 23223 can comfortably use conventional financing. The median home price of $351,000 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 23223 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 23223
To purchase the median home at $351,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $2,839.
Monthly Payment
$2,839
Income Required
$121,682
Principal & Interest
$2,163/mo
Down Payment (5%)
$17,550
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 23223.
Estimated Monthly Payment
$2,322
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