ZIP 23220 - 860Z200US23220 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 23220 in Richmond, Virginia, for your next home, investment property, or business location, understanding the local demographics and housing landscape is essential. This snapshot, based on 2023 data, provides a clear picture of the area’s population, income levels, housing costs, and diversity. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, these insights can help you make informed decisions about opportunities in 23220.

Population & Households

ZIP code 23220 is home to a population of 34,524 residents as of 2023. This vibrant community supports 15,150 households, reflecting a mix of family units, singles, and shared living arrangements. With 16,561 total housing units in the area, there’s a slight surplus of properties compared to occupied households, which could indicate availability for new residents or investors looking to enter the market. The population density and household composition suggest a dynamic urban or semi-urban environment, likely appealing to those seeking a lively community with access to amenities.

Income & Housing Costs

The median household income in ZIP 23220 stands at $56,681, offering a glimpse into the economic profile of the area. This income level suggests a moderate earning capacity for many residents, which can influence local spending power and business opportunities. On the housing front, the median house value is $468,900, pointing to a relatively high barrier to entry for homeownership compared to the income level. For renters, the median rent is $1,354 per month, which aligns with the cost of living in an area with elevated property values. These figures are critical for assessing affordability, whether you’re buying a home or evaluating rental investment potential.

Race & Ethnicity

The demographic makeup of ZIP 23220 reflects a diverse community, which can enrich the cultural fabric and appeal to a wide range of residents and businesses. The racial composition in 2023 breaks down as follows: 54.08% White, 31.28% Black, 3.66% Asian, and 5.71% Hispanic. This diversity suggests an inclusive environment that could support varied consumer needs and cultural offerings, making it an attractive location for businesses catering to different demographics or for families seeking a multifaceted community.

Key Facts

• Total population in ZIP 23220: 34,524 residents.
• Total households: 15,150, indicating a mix of living arrangements.
• Total housing units: 16,561, suggesting some availability for new occupants.
• Median household income: $56,681, reflecting moderate earning potential.
• Median house value: $468,900, a significant investment for buyers.
• Median rent: $1,354, relevant for renters and rental property investors.
• Racial diversity: 54.08% White, 31.28% Black, 3.66% Asian, 5.71% Hispanic.

What This Means for You

For homebuyers, ZIP 23220 offers a diverse community with a median house value of $468,900, which may require careful financial planning given the median household income of $56,681. The slight surplus of housing units could mean opportunities to negotiate or find a property that fits your needs, though affordability remains a key consideration. Investors and real estate agents might see potential in the rental market, with a median rent of $1,354 suggesting steady demand in a community of over 34,000 people. The diversity and population size also indicate a robust tenant pool. For small-business owners, the demographic mix and income levels suggest a market with varied consumer preferences—tailoring offerings to this diversity could drive success. Analysts can use these metrics to benchmark 23220 against other ZIP codes for deeper market studies or trend analysis.

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