Henrico, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Henrico Neighborhoods Since 2000




Henrico, VA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Henrico Housing Market Information

With 196,724 people, 2,157 houses or apartments, and a median cost of homes of $224,276, Henrico real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Henrico, accounting for 60.73% of the town's housing units. Other types of housing that are prevalent in Henrico include large apartment complexes or high rise apartments ( 24.14%), row houses and other attached homes ( 9.07%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.57%).

The most prevalent building size and type in Henrico are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 59.38% owning and 40.62% renting.

There is a lot of housing in Henrico built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Henrico built between 1940-1969 ( 31.29%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.72%). There's also some housing in Henrico built before 1939 ( 2.81%).

Henrico Home Appreciation Rates

Real estate appreciation rates in Henrico's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.74% during the period.

Appreciation rates are so strong in Henrico that despite a nationwide downturn in the housing market, Henrico real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Henrico appreciation rates continue to be some of the highest in America, at 6.22%, which is higher than appreciation rates in 75.96% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Henrico. Henrico appreciation rates in the latest quarter were at 1.35%, which equates to an annual appreciation rate of 5.51%.

Relative to Virginia, our data show that Henrico's latest annual appreciation rate is higher than 90% of the other cities and towns in Virginia.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Henrico differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Henrico - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Henrico real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$224,276

Henrico, VA HOME PRICES

Value Range
> $1,131,000 0.8
$848,001 - $1,131,000 1.3
$566,001 - $848,000 4.6
$453,001 - $566,000 4.8
$339,001 - $453,000 12.1
$226,001 - $339,000 27.4
$113,001 - $226,000 41.4
$57,001 - $113,000 5.0
$0 - $57,000 2.6

High for VA
High for Nation

Value Relative to Nation Value Relative to State
26.9365990859018 36.8421052631579

Number Of Homes And Apartments:
2,157

Henrico Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
58.42% 2.70% 7 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,443 / per month

Homeownership Rate

Homeownership
Owners 59.38
Renters 40.62
Vacant 6.57

Housing Market Details

 

Age of Homes

AGE OF Henrico HOMES
2000 or Newer 13.7
1970 - 1999 52.2
1940 - 1969 31.3
1939 or Older 2.8

Types of Homes

TYPE OF Henrico HOMES
Single-Family 60.7
Townhomes 9.1
Small Apt. Buildings 5.6
Apt. Complexes 24.1
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Henrico HOMES
No Bedroom 1.34
1 Bedroom 8.62
2 Bedrooms 26.37
3 Bedrooms 35.88
4 Bedrooms 21.43
5 or more bedrooms 6.36