Full Cost Breakdown — 23219 (Richmond, VA)
What Salary Do You Need to Buy in 23219?
Using the standard 28% gross income housing rule, you need approximately $106,261/year to comfortably afford the median home in Richmond, VA with 20% down at today's 7.1% rate.
The average household income in Richmond City is approximately $66,000/year — which means buying the median home here is difficult for the average family.
Property Tax in 23219 (Richmond City)
Richmond City has a property tax rate of approximately 1.2% — above the national average of 1.1%. On a $365,000 home, this equals $365/month or $4,380/year in property taxes.
Property taxes can often be appealed if your assessment seems high. Ownwell specializes in property tax appeals — they only charge if they save you money.
Will a Bank Approve You in Richmond?
Approval depends on your specific profile — credit score, income, existing debts, and down payment. The Bank Rejection Engine shows exactly how 5 different lender types would score your application for a home in 23219.