Housing Market Report
Colonial Heights City, VA
Data through February 2026 ยท Updated monthly
Homes are selling quickly with few price cuts
Avg Home Value
$276,545
โผ 0.7% year-over-year
Days to Pending
570 days
Homes For Sale
47
Avg Rent/Month
$570
The Colonial Heights City, VA housing market is holding relatively steady. The average home value is $276,545, down 0.7% year-over-year as of February 2026. Homes are spending a median of 570 days on the market before going pending. 0.2% of active listings have had a price cut.
There are currently 47 homes for sale in the county, with 14 new listings hitting the market each month.
The average asking rent in Colonial Heights City is $570 per month. For investors, the gross rent multiplier on a median-priced home is approximately 40.4, suggesting this market favors appreciation over cash flow.
Bottom-tier homes (under the 33rd percentile) are currently valued at $216,981, making them the primary target range for investors looking at wholesale deals, fix-and-flip projects, or BRRRR strategies.
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Market Snapshot
Colonial Heights City Housing Market at a Glance
Key metrics for Colonial Heights City as of February 2026. Year-over-year changes show how the market has shifted in the last 12 months.
| Metric | Dec 2025 | Jan 2026 | Feb 2026 | 3-Mo Change |
|---|---|---|---|---|
| Avg Home Value | $276,042 | $276,634 | $276,545 | โฒ 0.2% |
| Single Family Value | $275,828 | $276,420 | $276,327 | โฒ 0.2% |
| Median List Price | $319,967 | $320,000 | $323,333 | โฒ 1.1% |
| Homes For Sale | 55 | 53 | 47 | โผ 14.5% |
| New Listings | 22 | 17 | 14 | โผ 36.4% |
| % Listings w/ Price Cut | 0.3% | 0.3% | 0.2% | โผ 42.9% |
Home Values
Colonial Heights City Home Value Trend (2000โ2026)
All-home median values including the 2008 housing crash, 2020 COVID surge, and 2022 rate shock. Switch between All Homes, Single Family, Bottom Tier, Top Tier, and Rent to compare trends.
Source: Zillow Research ZHVI / ZORI ยท Updated monthly
Market Breakdown
What Homes Cost in Colonial Heights City
Home values broken down by bedroom count, ZIP code neighborhood, and property type. 3-bedroom homes are valued at $268,680 in Colonial Heights City.
| Bedroom Count | Avg Value | Last 30 Days | Last Year |
|---|---|---|---|
| 2 Bedrooms | $202,538 | โผ 0.1% | โผ 2.6% |
| 3 Bedrooms | $268,680 | No Change | โผ 1.0% |
| 4 Bedrooms | $328,912 | No Change | โฒ 1.3% |
| 5+ Bedrooms | $371,963 | No Change | โฒ 1.0% |
The table above reflects average home values and rent in Colonial Heights City, broken down by bedroom count, neighborhoods, and property types. Data sourced from Zillow Research.
Market Tiers
Buyer vs. Investor Segments
Bottom-tier homes (under 33rd percentile) are the primary target for wholesale investors using the 70% rule. In Colonial Heights City, bottom-tier homes are valued at $216,981.
Bottom Tier
Under 33rd percentile
$216,981
โผ 2.1% YoY
Wholesale / investor range
Mid Tier
33rd-67th percentile
$276,545
โผ 0.7% YoY
Typical buyer range
Top Tier
Over 67th percentile
$353,774
Luxury / high-end
Market Activity
Supply, Demand and Pricing Power
How quickly homes are selling, how many are available, and whether sellers or buyers have the upper hand in Colonial Heights City.
Homes For Sale
47
14 new/month
% Listings w/ Price Cut
0.2%
Median List Price
$323,333
Rental Market
Rent Trends in Colonial Heights City
Zillow Observed Rent Index (ZORI) tracks typical asking rent, controlling for quality mix. At current prices, the price-to-rent ratio is 40.4x annual rent.
Avg Asking Rent
$570
Year-over-Year
--
Month-over-Month
--
Price-to-Rent Ratio
40.4x
Rent trend (ZORI)
Source: Zillow Research ZHVI / ZORI ยท Updated monthly
Metro Context
Colonial Heights City vs. Richmond
How Colonial Heights City compares to the broader Richmond metropolitan area.
| Metric | Colonial Heights City | Metro Avg |
|---|---|---|
| Avg Home Value | $276,545 | $383,097 |
| Days to Pending | 570 days | -- |
| % Sold Below List | -- | 0.4% |
| Avg Rent/Month | $570 | $1,647 |
By Neighborhood
Home Values in Colonial Heights City by ZIP Code
Compare home values and price trends across neighborhoods in Colonial Heights City. Click any ZIP to see its full market report.
| ZIP Code | Area | Avg Home Value | 1Y Change | |
|---|---|---|---|---|
| 23221 | Richmond | $626,472 | โฒ 2.4% | View โ |
| 23226 | Richmond | $565,283 | โฒ 1.3% | View โ |
| 23220 | Richmond | $436,926 | โฒ 0.9% | View โ |
| 23235 | Richmond | $402,077 | โฒ 1.9% | View โ |
| 23236 | Richmond | $383,332 | โฒ 1.6% | View โ |
| 23225 | Richmond | $357,758 | โฒ 0.7% | View โ |
| 23219 | Richmond | $348,846 | โผ 5.3% | View โ |
| 23234 | Richmond | $303,677 | โฒ 2.7% | View โ |
| 23222 | Richmond | $272,596 | โฒ 1.6% | View โ |
| 23224 | Richmond | $236,968 | โฒ 1.6% | View โ |
Nearby Markets
Other Counties in VA
Explore home values and trends in other VA counties. Compare markets to find investment opportunities.
Accomack
$236,874
โผ 2%Last year
Albemarle
$544,769
โฒ 2%Last year
Rent: $1,997/mo
Alexandria City
$673,561
โฒ 1%Last year
Rent: $2,212/mo
Alleghany
$173,555
โฒ 1%Last year
Amelia
$315,037
โฒ 5%Last year
Amherst
$253,361
โผ 2%Last year
Rent: $1,139/mo
Appomattox
$277,704
โฒ 8%Last year
Arlington
$810,771
โฒ 0%Last year
Rent: $2,576/mo
Frequently Asked Questions
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Data Sources and Methodology
Market data on this page comes from the Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI), updated monthly by Zillow Research. ZHVI measures the typical home value for a given region based on Zillow's proprietary automated valuation model, smoothed and seasonally adjusted to remove noise. ZORI measures the typical observed market-rate rent across the region, controlling for quality mix changes.
Sale price, inventory, days-on-market, and sale-to-list metrics are sourced from Zillow Research public data releases. All data is refreshed on the 17th of each month. This report was last updated February 2026.
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