$365,000
Median Home Price
$2,479
All-In Monthly (20% down)
Difficult
Affordability on Avg Income
Full Cost Breakdown — 23219 (Richmond, VA)
Principal & Interest
$1,962/mo
$2,208/mo
Property Tax (1.2%)
$365/mo
$365/mo
Home Insurance (~0.5%)
$152/mo
$152/mo
PMI (if <20% down)
—
$164/mo
Total All-In
$2,479/mo
$2,889/mo
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.
Calculate Your Personal Costs for 23219
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Property Tax in 23219 (Richmond City)
Richmond City has a property tax rate of approximately 1.8% — 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.
The part almost nobody publishes free
Prices and rates are widely reported. Whether a lender says yes is not. In the complete 2025 federal record, denial rates across the 100 largest FHA lenders ran from 1.8% to 78.7% — same programme, same year.
And it is not simply who applies where: standardizing on state, loan amount, income, debt-to-income and loan-to-value, applicant mix explains only a 2.7× range in expected outcomes.
CFPB HMDA 2025, computed by FinanceRateCalc. Covers the highest-volume lenders published per market, not all lenders. Historical observations, not predictions. CC BY 4.0, not independently reproduced.
The Denial Dispatch
One finding a week from the federal mortgage record.
One chart, three paragraphs, every Saturday. Measured, not assumed.
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