Rental market snapshot for Shockoe Bottom, Richmond
Shockoe Bottom rental market summary
The rental market in Shockoe Bottom, Virginia is showing signs of growth. In July 2023, there were 209 new listings, a 4.8% increase from the same time last year. The median rent in July 2023 was $1,400, a 3.4% decrease from the previous month and a 4.8% decrease from the same time last year. This indicates that rental prices are becoming more affordable in Shockoe Bottom, making it an attractive option for renters.
The number of new listings in Shockoe Bottom is also increasing, suggesting that more people are looking to move to the area. This could be due to the lower rental prices, as well as the area's proximity to downtown Richmond and other attractions. With more people looking to move to the area, the rental market in Shockoe Bottom is likely to remain strong in the coming months.
Median rent for all residential properties in Shockoe Bottom
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The most expensive listings and top trending buildings in Shockoe Bottom
Most Expensive Listings
| Address | Rent Price | Bed / Bath |
|---|---|---|
| 2411 E Franklin St | $1,980 | 2 / 2.0 |
| 15 N 18th St | $1,899 | 3 / 2.0 |
| 2525 E Main St | $1,875 | 1 / 1.0 |
| 2 S 25th St | $1,855 | 2 / 2.0 |
| 12 S 19th St | $1,850 | 2 / 2.0 |
Top Trending Buildings
| building name | avg rent price |
|---|---|
| Main2525 LLC | $1,537 |
| Legend Property Group | $1,399 |
| Brookfield Properties Multifamily LLC | $1,396 |
| ROSS Companies | $1,395 |
| Main 2323 MT LLC | $1,295 |
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Bedroom Breakdown in Shockoe Bottom
Shockoe Bottom neighborhood apartments rents
The rental market for studios in Shockoe Bottom, Virginia is showing a slight decrease in rent from June to July 2023. There were 3 new studio listings in July 2023, with the median rent for studios at $1,195. This is a 1.5% decrease from the median rent of $1,214 in June 2023. This suggests that the rental market for studios in Shockoe Bottom is becoming more competitive, with more options available for renters.
The rental market for 1-bedroom apartments in Shockoe Bottom, Virginia is showing signs of growth. In July 2023, there were 50 new 1-bedroom listings, a 7.1% increase in median rent from June 2023 to July 2023, and a median rent of $1,395. This indicates that the rental market is becoming more competitive and that demand for 1-bedroom apartments is increasing.
The rental market for 2-bedroom apartments in Shockoe Bottom, Virginia is showing signs of growth. In July 2023, there were 23 new 2-bedroom listings, a 5.5% increase in median rent from June 2023 to July 2023, and a median rent of $1,760. This indicates that the rental market for 2-bedroom apartments in Shockoe Bottom is on the rise, and that renters should expect to pay more for their apartments in the coming months.