Housing Insights for ZIP Code 23111 (Mechanicsville, VA)

Housing Summary for ZIP Code 23111

Homeowners

The median home value in ZIP Code 23111 (Mechanicsville, VA) is $243,800. Approximately 79.7% of homes in this region are owner-occupied units, and the estimated homeowner vacancy rate is currently 1.8%.

The average occupancy of owner-occupied units in ZIP Code 23111 is 2.58 occupants, while owner-occupied units have an aggregate average size of 3.24 bedrooms per housing unit.

Renters

In the 23111 ZIP Code, an estimated 20.3% of all housing units are occupied by renters. This ZIP-defined region has is an estimated rental vacany rate of 5.2%.

Among renter-occupied units in this ZIP, the average occupancy is 2.43 occupants, while renters in this Hanover County region spend an average of 0% of their income on housing rental costs.

Housing Stats for ZIP Code 23111

See the table below for a regional snapshot of data related to both owner-occupied housing and rentals in ZIP Code 23111.

ZIP 23111 Virginia U.S.
Median Home Value $243,800 $402,127 $364,385
Owner-Occupied Housing Units 79.7% 66.3% 64.0%
Homeowner Vacancy Rate 1.8% 1.5% 1.6%
Average Size of Owner-Occupied Unit 2.58 2.67 2.70
Average # of Bedrooms Per Unit 3.24 2.97 2.75
Median Housing Rent $0 $1,234 $1,062
Renter-Occupied Housing Units 20.3% 33.7% 36.0%
Rental Vacancy Rate 5.2% 5.4% 6.0%
Average Size of Renter-Occupied Unit 2.43 2.48 2.49
Percent of Income Spent on Rent 0% 29.45% 29.83%

Home Values in ZIP Code 23111 (Mechanicsville, VA)

The median home value in ZIP Code 23111 is $243,800. That median value is about 11% lower than the median home value of $273,100 in Virginia overall, and is 12% higher than the $217,500 the median home value in the entire U.S. Approximately 47.6% of homes in ZIP Code 23111 are valued $200,000 to $299,999. That is 119% higher than in the state ofVirginia, where 21.7% of homes are valued at $200,000 to $299,999, and is about 143% higher than in the U.S. overall (19.6% of homes valued at $200,000 to $299,999). The home value range that the smallest portion of ZIP Code 23111 homes fall into is $1,000,000 or more (0.3% of homes).

Home Values in ZIP Code 23111

This chart visualizes the breakdown of home values in ZIP Code 23111, Virginia, and also in the U.S. overall.

A bar chart visualizing the breakdown of home values in ZIP Code 23111 vs. home values in both the state of Virginia and in the U.S. overall.

Home Values in ZIP Code 23111

See the table below for a regional comparison of home values in ZIP Code 23111.

Home Value ZIP 23111 Virginia U.S.
Less than $50,000 1.1% 4.3% 6.9%
$50,000 to $99,999 0.7% 6.7% 12.0%
$100,000 to $149,999 3.9% 9.7% 13.3%
$150,000 to $199,999 18.7% 13.0% 14.0%
$200,000 to $299,999 47.6% 21.7% 19.6%
$300,000 to $499,999 22.5% 24.6% 19.3%
$500,000 to $999,999 5.2% 17.1% 11.4%
$1,000,000 or more 0.3% 2.9% 3.4%

Home Ages in ZIP Code 23111 (Mechanicsville, VA)

Approximately 22.7% of homes in this Mechanicsville, VA region were built in 1990 to 1999. This amount of homes built in 1990 to 1999 in ZIP Code 23111 is about 44% higher than percentage of homes built in this time period in Virginia overall (15.8% of homes), and is 63% higher the percentage (13.9% of homes) in the U.S. as a whole. Additionally, an esimated 19.1% of local homes were built in 1980 to 1989. On the other end of the scale, just 2.0% of homes in this Hanover County ZIP Code were built in 1939 or earlier in ZIP Code 23111. In comparison, 7.4% of homes in Virginia overall were built in 1939 or earlier, while 12.6% of all U.S. homes were built in this time period.

Home Ages in ZIP Code 23111

A detailed regional comparison of home ages in ZIP Code 23111.

Year Built ZIP 23111 Virginia U.S.
2014 or later 2.4% 2.6% 2.5%
2010 to 2013 3.8% 3.2% 2.7%
2000 to 2009 17.0% 15.2% 14.0%
1990 to 1999 22.7% 15.8% 13.9%
1980 to 1989 19.1% 16.4% 13.4%
1970 to 1979 16.4% 15.7% 15.2%
1960 to 1969 9.8% 10.6% 10.6%
1950 to 1959 4.1% 8.8% 10.3%
1940 to 1949 2.6% 4.4% 4.9%
1939 or earlier 2.0% 7.4% 12.6%

Age of Homes in ZIP Code 23111

See the chart below for details on the age of homes in ZIP Code 23111, Virginia, and also in the U.S. overall. Data here refers to years that homes were built.

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Housing FAQs for ZIP Code 23111

Frequently asked questions about housing in this Mechanicsville, VA ZIP Code. Answers to questions about both owner-occupied housing and rental housing in 23111.

1

What is the average home value ZIP Code 23111?

The median home value in ZIP Code 23111 (Mechanicsville, VA) is $243,800.
2

Are homes expensive in ZIP Code 23111?

The median home value in 23111 ($243,800) is an estimated 11% lower than the aggregate median value of $273,100 in Virginia, and is 12% higher than the $217,500 the median home value in the U.S. overall.
3

What are owner-occupied vacancy rates like in ZIP Code 23111?

The vacacy rate for owner-occupied housing in ZIP Code 23111 is 1.8%. This rate is 20% higher than the overall Virginia owner-occupied vacancy rate of 1.5%. Additionally, the 23111 vacancy rate is 13% higher than the entire U.S. vacancy rate of 1.6%.
4

Does ZIP Code 23111 have older homes or newer construction?

In ZIP Code 23111, about 22.7% of homes were built in 1990 to 1999. That time range includes the most home construction. Also, 19.1% of homes in the region were built in 1980 to 1989. In contrast, 2.0% of homes in 23111 were built in 1939 or earlier.
5

What is the housing breakdown in ZIP Code 23111? Are there more rentals or owner-occupied units?

There is more owner-occupied housing in 23111 than renter-occupied housing. Owner-occupied units make up 79.7% of housing, compared to 20.3% for renter-occupied units.
6

Are rental vacancy rates high in ZIP Code 23111?

The vacacy rate for rental units in ZIP Code 23111 is 5.2%. This rate is 4% lower than the overall Virginia vacancy rate of 5.4%. Additionally, the 23111 vacancy rate is 13% lower than the entire U.S. vacancy rate of 6.0%.