Richmond, VA — income, home value, property tax, and sales tax.
In ZIP 23220, part of Richmond, households earn a median of $61,381, or $45,924 per person. Homes here carry a median value of $473,100, and the county-level property tax rate of 0.89% applies to that figure. Combined with a 6.00% sales tax on purchases, the area pairs above-average home prices with moderate earning levels. Property taxes on a median-valued home would run roughly $4,200 annually, a meaningful share of household income, while the sales tax adds to everyday costs. Together, these figures sketch a market where housing wealth is substantial but annual tax obligations still weigh on working households.
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