Cities with the fastest growing home prices in Richmond metro area
Cities with the fastest growing home prices in Richmond metro area
It goes without saying that the coronavirus pandemic has sparked a wave of uncertainty across myriad industries, and not other market has quite felt its impact like that of real estate.
The pandemic has become a driving force behind the continued real estate boom, with high demand for vacation homes and a limited supply of housing that has prompted buyers and investors to bid up prices for affordable properties, causing home prices to skyrocket. The ability to work remotely played a role in the vacation home demand in mid-2020, as affluent Americans opted to ride out the pandemic with more amenities and space outside dense urban areas.
Stacker compiled a list of cities with the fastest-growing home prices in Richmond, VA metro area using data from Zillow. Cities are ranked by 1-year price change as of August 2022. The typical home value in the United States increased over the last year by +14.1% to $356,054. Data was available for 72 cities and towns in Richmond.
You may also like: Highest-rated Mexican restaurants in Richmond, according to Tripadvisor
#30. Mechanicsville, Virginia
- 5-year price change: +$101,645 (+37.5%)
- Typical home value: $372,412 (#15 most expensive city in metro)
#29. Disputanta, Virginia
- 5-year price change: +$87,695 (+40.9%)
- Typical home value: $301,867 (#30 most expensive city in metro)
#28. Gumspring, Virginia
- 5-year price change: +$88,540 (+42.6%)
- Typical home value: $296,324 (#31 most expensive city in metro)
#27. Lakeside, Virginia
- 5-year price change: +$105,480 (+56.6%)
- Typical home value: $291,824 (#32 most expensive city in metro)
#26. Glen Allen, Virginia
- 5-year price change: +$116,118 (+37.2%)
- Typical home value: $427,870 (#4 most expensive city in metro)
You may also like: Highest-rated cheap eats in Richmond, according to Tripadvisor
#25. Sandston, Virginia
- 5-year price change: +$100,270 (+55.9%)
- Typical home value: $279,521 (#35 most expensive city in metro)
#24. Henrico, Virginia
- 5-year price change: +$108,979 (+45.6%)
- Typical home value: $347,972 (#25 most expensive city in metro)
#23. Crozier, Virginia
- 5-year price change: +$106,519 (+33.6%)
- Typical home value: $423,382 (#5 most expensive city in metro)
#22. Hanover, Virginia
- 5-year price change: +$100,018 (+38.1%)
- Typical home value: $362,872 (#20 most expensive city in metro)
#21. Quinton, Virginia
- 5-year price change: +$99,983 (+40.1%)
- Typical home value: $349,080 (#24 most expensive city in metro)
You may also like: Highest-rated barbecue restaurants in Richmond
#20. Barhamsville, Virginia
- 5-year price change: +$106,293 (+41.7%)
- Typical home value: $361,334 (#22 most expensive city in metro)
#19. New Kent, Virginia
- 5-year price change: +$103,458 (+39.6%)
- Typical home value: $364,557 (#19 most expensive city in metro)
#18. Providence Forge, Virginia
- 5-year price change: +$100,465 (+36.2%)
- Typical home value: $378,221 (#11 most expensive city in metro)
#17. Powhatan, Virginia
- 5-year price change: +$110,643 (+42.2%)
- Typical home value: $372,612 (#14 most expensive city in metro)
#16. Richmond, Virginia
- 5-year price change: +$129,613 (+62.5%)
- Typical home value: $337,071 (#27 most expensive city in metro)
You may also like: Most expensive homes for sale in Richmond
#15. Chester, Virginia
- 5-year price change: +$112,980 (+49.2%)
- Typical home value: $342,583 (#26 most expensive city in metro)
#14. Maidens, Virginia
- 5-year price change: +$112,435 (+37.4%)
- Typical home value: $412,901 (#6 most expensive city in metro)
#13. Lanexa, Virginia
- 5-year price change: +$107,029 (+39.8%)
- Typical home value: $375,637 (#13 most expensive city in metro)
#12. Milford, Virginia
- 5-year price change: +$95,267 (+55.8%)
- Typical home value: $265,935 (#40 most expensive city in metro)
#11. Bon Air, Virginia
- 5-year price change: +$126,219 (+53.6%)
- Typical home value: $361,705 (#21 most expensive city in metro)
You may also like: Zip codes with the most expensive homes in Richmond metro area
#10. Bellwood, Virginia
- 5-year price change: +$100,453 (+66.0%)
- Typical home value: $252,645 (#50 most expensive city in metro)
#9. Midlothian, Virginia
- 5-year price change: +$127,274 (+44.6%)
- Typical home value: $412,524 (#7 most expensive city in metro)
#8. Sandy Hook, Virginia
- 5-year price change: +$114,619 (+39.5%)
- Typical home value: $404,706 (#8 most expensive city in metro)
#7. Chesterfield, Virginia
- 5-year price change: +$117,347 (+49.5%)
- Typical home value: $354,450 (#23 most expensive city in metro)
#6. Oilville, Virginia
- 5-year price change: +$131,740 (+33.0%)
- Typical home value: $530,617 (#2 most expensive city in metro)
You may also like: Highest paying jobs that require a 2 year degree in Richmond
#5. Montrose, Virginia
- 5-year price change: +$110,863 (+89.4%)
- Typical home value: $234,931 (#58 most expensive city in metro)
#4. East Highland Park, Virginia
- 5-year price change: +$100,470 (+65.5%)
- Typical home value: $253,779 (#48 most expensive city in metro)
#3. Bensley, Virginia
- 5-year price change: +$106,905 (+77.7%)
- Typical home value: $244,425 (#53 most expensive city in metro)
#2. Highland Springs, Virginia
- 5-year price change: +$112,782 (+82.2%)
- Typical home value: $249,923 (#51 most expensive city in metro)
#1. Moseley, Virginia
- 5-year price change: +$158,696 (+41.0%)
- Typical home value: $546,182 (#1 most expensive city in metro)
You may also like: Highest-paying jobs in Richmond
