Rental market snapshot for Richmond, Virginia

Richmond, Virginia Rental Property Market Overview

Richmond, Virginia is a vibrant city with a population of 226,604 as of 2021 according to the US Census. It is the capital of the Commonwealth of Virginia and is known for its rich history, diverse culture, and vibrant arts scene. The city is home to a variety of museums, galleries, and parks, as well as a thriving business district. Richmond is also home to several universities and colleges, making it a great place to live and work.

The average rent for an apartment in Richmond is $1,538. The cost of rent varies depending on several factors, including location, size, and quality.

The average rent has decreased by 0.00% over the past year.

Last Updated March 25, 2024

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Average monthly rent graph in Richmond Virginia | Cost of Living

  • The most expensive ZIP code in Richmond is 23226 with an average price of $1,980.
  • The cheapest ZIP code in Richmond is 23225 with an average price of $1,345.

Richmond ZIP codes with the highest, most expensive rent

#ZIP CodeAverage Rent

Live near Richmond, Virginia's Top Sights and Attractions

Monroe Park is a large, picturesque park located in the heart of the city. It features a large lake, walking trails, and plenty of green space for picnics and outdoor activities. The park is also home to a variety of wildlife, including ducks, geese, and other birds. There are also several monuments and statues located throughout the park, as well as a playground and a carousel. The park is a popular spot for locals and visitors alike, and is a great place to relax and enjoy the outdoors.

Monument Avenue Linear Park is a scenic stretch of green space located along a historic boulevard. The park is lined with grand monuments and statues honoring famous figures from the city's past. Visitors can enjoy a leisurely stroll or bike ride along the tree-lined path, taking in the sights of the monuments and the surrounding architecture. The park also features a variety of recreational activities, including playgrounds, picnic areas, and sports courts.

The Stonewall Jackson Statue is a bronze equestrian statue of Confederate General Thomas "Stonewall" Jackson. It stands atop a granite pedestal in a public park, and is a popular tourist attraction. The statue was created by sculptor Frederick William Sievers, and was unveiled in 1919. It stands approximately 20 feet tall, and is a tribute to the Confederate general who fought in the American Civil War. The statue is surrounded by a beautiful landscape, and is a popular spot for visitors to take pictures.

Falling Creek Ironworks Park is a historical park located on the banks of the James River. It is the site of the first ironworks in the United States, established in 1619. The park features a walking trail, a picnic area, and a reconstructed furnace. Visitors can explore the ruins of the original ironworks and learn about the history of the area. The park also offers stunning views of the river and the surrounding countryside.

Gaines' Mill Battlefield is a historic site that marks the location of a major Civil War battle. It is located on a wooded hillside, with a small stream running through the property. Visitors can explore the grounds, which feature monuments, interpretive signs, and a walking trail. The site also includes a visitor center with exhibits and a gift shop.

Daniel Park is a beautiful, historic park located on the banks of the James River in Richmond, Virginia. It features a large, open grassy area, perfect for picnics and outdoor activities, as well as a scenic walking path along the river. The park is also home to a variety of monuments and memorials, including a statue of Confederate General Robert E. Lee, a memorial to the Confederate dead, and a memorial to the African-American soldiers who fought for the Confederacy. The park also features a large fountain, a playground, and a variety of other amenities.

Maymont House and Park is a 100-acre Victorian estate located in Richmond, Virginia. The estate includes a grand mansion, formal gardens, a nature center, a petting zoo, a carriage collection, a museum, and a Japanese garden. The mansion is a Romanesque-style building with a grand staircase, ornate fireplaces, and period furnishings. The formal gardens feature a variety of plants, flowers, and trees, as well as a gazebo and a fountain. The nature center offers educational programs and exhibits on local wildlife and habitats. The petting zoo is home to a variety of animals, including goats, sheep, and llamas. The carriage collection includes a variety of horse-drawn carriages from the 19th and 20th centuries. The museum features exhibits on the history of the estate and its owners. The Japanese garden is a tranquil oasis with a koi pond, a tea house, and a variety of plants and trees.

Forest Hill Park is a large, wooded park located in Richmond, Virginia. It features a variety of outdoor activities, including hiking, biking, fishing, and picnicking. The park also has a large lake, which is a popular spot for canoeing and kayaking. There are several trails that wind through the park, offering spectacular views of the surrounding area. The park also features a playground, tennis courts, and a disc golf course. The park is a great place to spend a day outdoors, enjoying nature and the beauty of the area.

Byrd Park is a large public park located in the heart of Richmond, Virginia. It features a lake, a boathouse, a carillon, a rose garden, a dog park, a playground, and a variety of trails for walking, running, and biking. The park is also home to a number of monuments and sculptures, including a statue of Confederate General Robert E. Lee. The park is a popular destination for locals and visitors alike, offering a peaceful escape from the hustle and bustle of the city.

The Science Museum of Virginia is a hands-on science museum located in Richmond, Virginia. It features interactive exhibits, a planetarium, an IMAX Dome theater, and a range of educational programs. Visitors can explore the museum's many galleries, which cover topics such as health and medicine, energy, and the environment. The museum also offers a variety of special events, such as science-themed movie nights, lectures, and workshops.

Richmond, Virginia area median rent change by ZIP code map

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How does Richmond compare to other cities in Virginia?

citymedian price
Stafford Courthouse$2,084
Front Royal$1,500
South Hill$1,350

Average household income in Richmond area graph - US Census

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The median household income in Richmond in 2021 was $54,795. This represents a 38.9% change from 2011 when the median was $39,445.

0Less than $10,0009.7%
1$10,000 to $14,9995.7%
2$15,000 to $19,9995.8%
3$20,000 to $24,9994.6%
4$25,000 to $29,9994.9%
5$30,000 to $34,9995.1%
6$35,000 to $39,9995.1%
7$40,000 to $44,9994.4%
8$45,000 to $49,9993.6%
9$50,000 to $59,9997.8%
10$60,000 to $74,9999.7%
11$75,000 to $99,99910.2%
12$100,000 to $124,9997.0%
13$125,000 to $149,9994.7%
14$150,000 to $199,9994.9%
15$200,000 or more6.7%

Frequently asked questions

Our data is best categorized as "alternative data", which is a burgeoning sector. Through partnerships and direct feeds, we extract key factual elements that are publicly available within rental listings on internet listing sites and property websites. Once aggregated, we mine through the data to parse out relevant insights and calculate important metrics, benchmarks, and other KPIs. Each week, our system sifts through millions of listing observations and other pockets of market information to deliver the most comprehensive picture of rental housing available.

This is a metric that we try not to overthink. Simply, we take each unique listing observation within a geographic boundary and calculate a simple average. Of course, we're careful to filter for duplicates and other listings that aren't reflective of the market.

Yes, but please attribute us accordingly.

Yes. We can deliver bulk raw data in various formats. Please contact us to discuss - [email protected]

While some of our data is refreshed daily and other data comes in weekly, the bulk of it comes in on a biweekly basis.

Our coverage is nationwide! In our platform, we have data points for every ZIP code and neighborhood boundary in the country.

Every rental housing unit is differentiated by attributes such as its location, square footage, and amenity composition. Thanks to machine learning and natural language processing technologies we deploy, we're able to deconstruct our rental listing data points and identify key amenities for each listing. With this information, we're able to give signals around how certain amenities drive rental pricing value in certain areas.

Well, we think so! At the highest level, our process is simple. Listings data is ingested, cleaned (de-duplicated. etc.), analyzed for insights, and then presented to our users.

As of February , the average rent in Richmond is $1,538.
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