Latest available · Census ACS 5-Year (2024)
What Is the Average Rent in Richmond city, Virginia?
City · Census ACS 5-Year estimates
The median gross rent in Richmond city, Virginia is $1,372/month (±$20), based on Census ACS 5-Year estimates (2024). The median home value is $353,000 (±$7,576), and the median household income is $64,587/year. The unemployment rate in Richmond city, Virginia was 3.8% as of April 2026 (preliminary). Source: U.S. Census Bureau, American Community Survey, 2024 5-Year Estimates.
Housing Metrics for Richmond city, Virginia
| Metric | Value |
|---|---|
| Median Gross Rent | $1,372 |
| Median Home Value | $353,000 |
| Median Household Income | $64,587 |
| Total Housing Units | 104,321 |
| Renter-Occupied Units | 58,914 |
| Renter-Occupied Share | 56% |
| Households Paying 50%+ Income | 15,759 households |
| Unemployment Rate(April 2026) | 3.8% |
Median Rent by Bedroom Count
| Bedroom | Median Rent | YoY |
|---|---|---|
| Studio | $1,215 | +0.0% |
| 1 BR | $1,266 | +0.0% |
| 2 BR | $1,445 | +0.0% |
| 3 BR | $1,508 | +0.0% |
| 4 BR | $1,827 | +0.0% |
| 5+ BR | $2,256 | +0.0% |
How does Richmond city, Virginia compare?
Median gross rent ranked against all cities in Virginia.
Higher rent than 59% of cities in Virginia · 195th of 470
| # | City | Value |
|---|---|---|
| 1 | Great Falls CDP | $3,501 |
| 1 | South Run CDP | $3,501 |
| 1 | Wakefield CDP | $3,501 |
| … 191 more … | ||
| 195 | Richmond city(you are here) | $1,372 |
| … 272 more … | ||
| 468 | St. Paul town | $460 |
| 469 | Fries town | $333 |
| 470 | Lovingston CDP | $232 |
More data for Richmond city, Virginia
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Frequently asked questions
What is the average rent in Richmond city, Virginia?
The median gross rent in Richmond city, Virginia is $1,372/month, based on Census ACS 5-Year estimates (2024). Gross rent includes contract rent plus utilities. Source: U.S. Census Bureau, American Community Survey 5-Year Estimates, 2024.
What is the average rent for a 2-bedroom in Richmond city, Virginia?
The median rent for a 2-bedroom in Richmond city, Virginia is $1,445/month based on Census ACS 5-Year estimates (2024). Margin of error: ±$36. Source: U.S. Census Bureau, American Community Survey 5-Year Estimates, 2024.
What is the median home value in Richmond city, Virginia?
The median home value in Richmond city, Virginia is $353,000 according to Census ACS 5-Year estimates (2024).
What percentage of renters in Richmond city are rent-burdened?
In Richmond city, Virginia, 15,759 households pay 50% or more of their income for rent. A household is considered rent-burdened when it spends more than 30% of income on housing costs.
What is the median household income in Richmond city, Virginia?
The median household income in Richmond city, Virginia is $64,587/year according to Census ACS 5-Year estimates (2024).
How reliable is Census ACS data for small areas?
The ACS 5-Year estimates combine 60 months of data for more reliable figures in smaller geographies. Each estimate has a margin of error (MOE). For example, the median rent of $1,372 has a margin of error of ±$20. In very small areas, MOEs can be large relative to the estimate.
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