CALCMONEY // MORTGAGE // VA // RICHMOND // 23221
ZIP CODE ANALYSISHyper-local mortgage data for ZIP 23221 in Richmond, VA.
$680,000
$544,000
$4,489
$192,405/yr
| Down Payment | Home Price | Loan Amount | Monthly P&I | Total Monthly | Rate |
|---|---|---|---|---|---|
| 10% Down | $680,000 | $612,000 | $4,031 | $4,937 | 6.9% |
| 20% Down | $680,000 | $544,000 | $3,583 | $4,489 | 6.9% |
| 25% Down | $680,000 | $510,000 | $3,359 | $4,266 | 6.9% |
Total monthly includes principal & interest, property tax (1.2% annual), and estimated homeowners insurance. PMI not included.
The Fan District (ZIP 23221) sits within Richmond, Virginia with a median home price of $680,000 — significantly above the Richmond city-wide median of $350,000. At 80% LTV, the typical loan of $544,000 remains within conforming loan limits, keeping conventional financing accessible.
Property taxes in ZIP 23221 run 1.2% annually, adding $680 per month on the median home. Median household income in this neighborhood is approximately $112,000, placing the price-to-income ratio at 6.1x. Virginia levies a state income tax, which reduces take-home pay and should be factored into your maximum monthly payment calculation.