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Henrico County, VA

RANK #459 / 996  ·  POP 333,120  ·  VA

PROJECTED GROWTH: +0.9%

Henrico County sits in the middle of the pack — stable but not accelerating.

[01] Why Henrico County?

Henrico County, Virginia, one of the oldest counties in the United States, wraps around the city of Richmond to its west, north, and east. The county is known for communities like Short Pump and Innsbrook, which have been recognized for their quality of life. Commuting options include a bus network, and Richmond International Airport is located within the county. Henrico offers a variety of outdoor recreation opportunities, with numerous parks, recreation facilities, and access to the James River.

Life in Henrico County blends suburban living with access to urban amenities. The county's public schools are recognized for their academic programs, including five International Baccalaureate schools. Recent economic developments show investment in sectors such as advanced manufacturing and data centers, contributing to job growth and a diverse economy. The county also focuses on developing public spaces and walkable neighborhoods.

[02] Market Snapshot

Housing Ratio
3.5x

Undervalued relative to economy

GDP Growth
+0.8%

Well below national median

Home Prices
+1.1%

Below national median

Climate & Terrain
-0.9

Below-average climate & terrain

Price/Rent
15x

Above national median (13x)

Housing looks undervalued at 3.5x — home prices are low relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Henrico County U.S. National

The Numbers

DEMOGRAPHICS
Population
333,120
+0.36% YoY
Median Household Income
$82,424
Median Home Value
$309,700
+1.12% 12mo
Median Rent
$1,380
Average Annual Pay
$70,541
+4.0% YoY
Employment
187,647
+0.5% YoY
Income-to-Home-Value
0.2661
More affordable than average
Migration Inflow
4.49%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$382,000
Days on Market
25
Active market
Months of Supply
1.6
Seller's market
Sale-to-List Ratio
100.2%
Homes selling above asking
Sold Above List
38.7%
Listings w/ Price Drops
24.5%
Building Permits (2024)
1,826
Single-Family Permits
921

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$3,400M
TOTAL
PROJECT AMOUNT STATUS
Meta Henrico Data Center
Meta Platforms, Inc.
$1,700M Operating
Iron Mountain Data Center Campus (RCH-1 through RCH-4)
Iron Mountain
$1,000M Under Construction
Hourigan Data Center Campus
Hourigan
$500M Proposed
Amazon Robotics Fulfillment Center (RIC 4)
Amazon
$100M Operating
Eaton Manufacturing Expansion
Eaton
$50M Planned
Darbytown Storage Pilot Project (Battery Storage)
Dominion Energy
$50M Planned

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +0.8% 15 percentile
Population Growth +0.4% 45 percentile
Income Growth +8.0% 36 percentile
Vacancy Rate 1.1% 49 percentile
Home Price Change +1.1% 47 percentile
Rent Growth +2.8% 45 percentile
Price/Rent 15x 33 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Henrico County, VA a good place to move to?

Henrico County has a Boom Town Index score of 54/100, ranking #459 among 996 U.S. counties. With job growth at +0.5% and a median household income of $82,424, it's an above-average county on economic indicators.

Is Henrico County affordable?

The median home value in Henrico County is $309,700 with median rent at $1,380/month. The income-to-home-value ratio is 0.2661, which is more affordable than the national average.

Is Henrico County growing or shrinking?

Population growth: +0.4% year-over-year. Job growth: +0.5%. Home values changed +1.1% in the past 12 months.

Are people moving to Henrico County?

Yes — 4.49% of Henrico County's population moved from another state, which is above the national average and indicates strong in-migration.

[08] Similar Metros

Oakland County, MI 64 Sullivan County, NY 64 Harford County, MD 64 Essex County, MA 64 Burke County, NC 64 Muskingum County, OH 64 Vigo County, IN 64 Cass County, ND 64