Richmond, VA — income, home value, property tax, and sales tax.
In ZIP 23221, part of Richmond, homes carry a median value of $582,000, and the county-level effective property tax rate of 0.89% translates to roughly $5,180 a year in taxes on such a home. Households here earn a median of $99,816, with per-capita income at $85,364, so that tax bill equals about 5.2% of median household earnings. Combined with a 6.00% sales tax, ownership costs add up, yet the income base supports them. Buyers weighing this ZIP should account for both the steep entry price and the ongoing tax obligation.
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