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These days, finding an affordable place to live in the Henrico area can be challenging. Home prices in Henrico are now at a median cost of $349,935, lower than the Virginia average of $443,089.
The average cost of rent is $1,334/mo in Henrico, primarily driven by the current value of real estate in the Henrico area. In Henrico, 16.76% of households rent, and 17.78% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Henrico is $8,771 per month. Households that rent pay about 15.21% of their income on rent here. Henrico’s most expensive areas are in the northwestern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Montrose, VA: less expensive homes
- Montrose Heights, VA: less expensive homes
- Richmond, VA: equally priced homes
- Bensley, VA: less expensive homes
- East Highland Park, VA: less expensive homes
- Meadowbrook, VA: less expensive homes
- Manchester, VA: less expensive homes
- Highland Springs, VA: less expensive homes
- Varina, VA: equally priced homes
- Bellwood, VA: less expensive homes
Cities with Similar Populations
- Stanton, TN: less expensive homes
- Garfield, TX: less expensive homes
- Gaylordsville, CT: higher priced homes
- Groveland, IL: less expensive homes
- Higdon, AL: less expensive homes
- Hillsboro, ND: less expensive homes
- Hollywood, AL: less expensive homes
- Idria, CA: higher priced homes
- Jean Lafitte, LA: less expensive homes
- Littlerock, WA: higher priced homes
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