What is the Best Neighborhoods USA ranking for Colonial Place?
Colonial Place is ranked #23 of 113 eligible neighborhoods in Richmond; #92 of 518 eligible neighborhoods in VA; and #2,079 of 14,967 eligible neighborhoods in the United States.
Neighborhood Profile
Colonial Place
Richmond, VA | Richmond City
Scored premium profile
Best Neighborhoods USA Index
66.7
Stability and Strength
73.0
Value Opportunity
50.2
Momentum
79.6
Score note: Rankings show denominators so users always see the size of the eligible cohort.
| Context | Value |
|---|---|
| Location | Richmond, VA |
| County | Richmond City |
| National rank | #2,079 of 14,967 |
| State rank | #92 of 518 |
| City rank | #23 of 113 |
| County rank | #23 of 113 |
| National percentile | 86.1 |
| National band | TOP_25_PERCENT |
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Housing and local fundamentals
| Housing and market metrics | Value |
|---|---|
| Current Zillow home value | $799,213 |
| Year-over-year home value change | 3.2% |
| Month-over-month home value change | 0.74% |
| Home value to income ratio | 10.04 |
| Median household income | $79,610 |
| Bachelor's degree or higher | 78.9% |
| Civilian unemployment rate | 0.8% |
| Homeownership rate | 71.0% |
| Housing vacancy rate | 6.2% |
| Rent burden 30% or higher | 39.5% |
How to read this profile
- Ranks are always shown with denominators.
- Momentum reflects both year-over-year and month-over-month housing change.
- Stability and Strength and Value Opportunity are governed composite scores.
- Identity composition is descriptive intelligence and is not a scoring component.
Questions and Answers
Questions About Living in Colonial Place
Is Colonial Place one of the best neighborhoods in Richmond?
Colonial Place has a Best Neighborhoods USA Index of 66.7 and a city ranking of #23 of 113 eligible neighborhoods in Richmond.
How much are homes worth in Colonial Place?
The current Zillow Home Value Index for Colonial Place is approximately $799,213.
Are home values rising or falling in Colonial Place?
Zillow neighborhood values changed 3.2% year over year and 0.74% month over month.
What is the Neighborhood Momentum Score for Colonial Place?
Colonial Place has a Neighborhood Momentum Score of 79.6. Momentum is 70% year-over-year and 30% month-over-month Zillow housing change.
What is the median household income in Colonial Place?
The NDS-derived neighborhood median household income is approximately $79,610.
How affordable is Colonial Place relative to household income?
The current Zillow home-value-to-household-income ratio is 10.04. Price-to-income affordability is a major Value Opportunity input.
Is Colonial Place primarily homeowners or renters?
The NDS-derived homeownership rate is approximately 71.0%.
What is the unemployment rate in Colonial Place?
The NDS-derived civilian unemployment rate is approximately 0.8%.
How educated are residents of Colonial Place?
Approximately 78.9% of residents age 25 and older are estimated to have a bachelor's degree or higher.
What share of renters in Colonial Place face high rent burden?
Approximately 39.5% of the applicable renter-household universe is estimated to spend 30% or more of household income on gross rent.
How does Best Neighborhoods USA score Colonial Place?
The overall index combines 40% Stability and Strength, 35% Value Opportunity, and 25% Momentum. Race, ethnicity, and identity composition are not scoring components.
Governed ranking context
How this neighborhood ranks
HMDA Mortgage Intelligence
Neighborhood Mortgage Market
Modeled neighborhood-level mortgage activity allocated from governed HMDA tract data using Zillow neighborhood geometry. These neighborhood values are nonadditive and do not enter the Best Neighborhoods USA Index.
Activity year2024
Estimated applications71
Estimated originations54
Home-purchase applications34
Origination rate75.5%
Home-purchase share47.4%
Average application loan$378,610
Total application loan amount$27,026,420
National application rank#5,728 of 14,874 rankable neighborhoods
Geometry coverage100.0%
Recent trend: Applications 7.0% YoY; originations 9.8% YoY
Mortgage methodology
HMDA is natively reported at tract and other lender-reporting geographies, not Zillow neighborhood or ZIP geography. This module uses the certified NDS HMDA-to-Zillow tract-vintage crosswalk and area-weighted allocation. Rankings require governed geometry coverage. Applicant demographics are excluded. Neighborhood values may overlap and must not be summed to reconstruct ZIP or national totals.