Richmond Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$145,000

  • 3.4% 1-year change
  • 1.0% 1-year forecast

The median home value in Richmond is $145,000. Richmond home values have gone up 3.4% over the past year and Zillow predicts they will rise 1.0% within the next year. The median rent price in Richmond is $1,112, which is lower than the Richmond Metro median of $1,272.

Foreclosures will be a factor impacting home values in the next several years. In Richmond 7.6 homes are foreclosed (per 10,000). This is greater than the Richmond Metro value of 3.1 and also greater than the national value of 3.6

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Richmond is 5.2%, which is lower than the national value of 6.0%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Richmond homeowners underwater on their mortgage is 24.7%, which is higher than Richmond Metro at 19.3%.

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Relative ZHVI
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Richmond Market Overview

Data through Jul 31, 2015
  • $145,000 ZHVI
  • 1.0% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Jul 31, 2016)
  • No data Median listing price
  • $228,758 Median sale price
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Richmond Market Health

Data through Jul 31, 2015
  • 4.0/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 24.7% Homes with negative equity (15.4% US Avg) (Mar 31, 2015)
  • 5.2% Delinquent on mortgage (6.0% US Avg) (Mar 31, 2015)

Homes foreclosed (per 10,000)

8 Richmond
3 Richmond Metro
4 United States
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Neighborhoods in Richmond

Name Median ZHVI
Westover Hills $290,500
Forest Hill $246,100
Carillon $235,600
Name Median ZHVI
Byrd Park $220,900
Woodland Heights $200,600
Forest Hill Terrace $190,600
Name Median ZHVI
Randolph $143,000
Maymont $132,600
Swansboro West $76,800

Listings & Sales

Data through Jul 31, 2015
  • No recent data Median list price / sq ft
  • $156 Median sale price / sq ft
  • No data Listings with price cut
18.0%
Sold below previous sale price
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Richmond Rentals

Data through Jul 31, 2015
  • Zillow Rent Index

  • $1,147 Richmond
    $1,330 Richmond Metro
    $1,376 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.3 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Mar 31, 2015)
  • $1,112 Rent list price
  • $0.91 Rent list price / sq ft
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