The story of this market
The typical home in ZIP 23831 sells for about $389,884, or $195 per square foot.
Prices are down 1.3% from a year ago, which gives buyers more room to negotiate. Homes take about 19 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,645 a month.
ZIP 23831 — Chester
The 23831 housing market remains competitive with a median sale price of $389,884, reflecting a slight year-over-year decline. Low inventory and quick turnover times suggest sustained demand from buyers, despite broader economic shifts. The market is currently characterized by a balanced but tight supply-demand dynamic.
This ZIP is well-suited for families and commuters who value suburban living with convenient access to the Richmond employment core.
Median prices moved down 1.3% year over year.
Homes spend a median of 19 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 100% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.6% · poverty 6.5% — a stable, low-distress profile.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 23831, Chesterfield County VA
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area is served by Chesterfield County Public Schools, which generally maintains a stable reputation within the Richmond metropolitan region.
The area is subject to standard regional risks including potential flooding near the James River and seasonal storm impacts common to Central Virginia.
The area benefits from its proximity to Richmond and ongoing suburban development, with major employment hubs accessible via the I-95 corridor.
Property taxes are assessed by Chesterfield County based on fair market value; the county maintains a competitive tax rate relative to neighboring jurisdictions.
Residents typically commute via I-95 or Route 1, providing direct access to downtown Richmond and the surrounding employment centers.
The area features access to the James River, various local parks, and proximity to shopping centers in Chester and nearby Richmond suburbs.
The rental market is active with moderate vacancy pressure, driven by demand from commuters and families seeking suburban housing options.
The economy is anchored by a mix of retail, healthcare, and professional services, with significant employment spillover from the Richmond metropolitan area.
The area is primarily served by major highway corridors including I-95 and Route 1, facilitating regional connectivity.
Ongoing residential and mixed-use development continues to expand the suburban footprint of the Chester area.
Chesterfield County utilizes a centralized appraisal system to determine property values for tax assessment purposes.
Parcels are subject to Chesterfield County tax levies and may fall within specific utility or service districts.
Property insurance premiums are influenced by regional hazard profiles, including flood and wind exposure common to the Virginia coastal plain.
Data retrieved from data.census.gov ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Provides recreational opportunities including boating and fishing.
A central hub for local retail and community events.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.