Average Rent in Richmond, VA
Richmond blends history with a growing food, craft beer, and arts scene. The James River runs through the city offering urban outdoor recreation. VCU and state government anchor the economy.
+1.0%YoY
Studio
$1,050
1-Bedroom
$1,300
2-Bedroom
$1,550
3-Bedroom
$1,900
Market Overview
Year-over-Year Change+1.0%
Vacancy Rate5.8%
Renter Population54%
Median Income$49,482/yr
Rent-to-Income Ratio31.5%
Cost of Living Index92 (US avg: 100)
Market Condition
Balanced Market
Market is relatively balanced between landlords and tenants.
Tenant Protections
- Security deposit limited to 2 months rent
- Deposit return within 45 days
- Virginia Residential Landlord Tenant Act applies
- Landlord must maintain fit and habitable premises
Rent by Neighborhood in Richmond
The Fan District
Historic row houses, Monument Avenue, and walkable dining.
Walk Score: 82Safety: 7/10
1-Bed
$1,350
2-Bed
$1,650
3-Bed
$2,050
Scott's Addition
Brewery district with new apartments and food hall.
Walk Score: 72Safety: 7/10
1-Bed
$1,500
2-Bed
$1,800
3-Bed
$2,200
Church Hill
Historic hilltop neighborhood with city views and revitalization.
Walk Score: 60Safety: 5/10
1-Bed
$1,200
2-Bed
$1,450
3-Bed
$1,800
Carytown
Shopping strip with Byrd Theatre, boutiques, and restaurants.
Walk Score: 75Safety: 8/10
1-Bed
$1,300
2-Bed
$1,600
3-Bed
$1,950
Tips for Renting in Richmond
- 1James River Park System offers free outdoor recreation in the city center
- 2VCU area has student housing that can be noisy - check carefully
- 3Richmond's food scene punches well above its weight - dining is affordable
- 4GRTC Pulse bus rapid transit connects key corridors
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