Legal & Compliance
Respond to a Rent Increase Legally & Strategically
Have you received a rent hike notice? Know your rights, challenge what's unfair, and make the move that protects your money, not your landlord's margins.
•8 min read
What to Know About
Living in Richmond, VA
Richmond, known as the "Capital of the South," is the historic capital city of Virginia, brimming with Southern charm. Richmond has played an essential role in the country's history, with sites like the Virginia State Capitol, the American Civil War Museum, and the Maggie L. Walker National Historic Site. This city is also a beacon of learning, boasting prestigious universities such as Virginia Commonwealth University and the University of Richmond, which offer excellent educational opportunities. The city's thriving arts and culture scene includes the Virginia Museum of Fine Arts and the Altria Theater.
Nature lovers can explore the city's many parks and trails, such as the James River Park System, the Lewis Ginter Botanical Garden, and the Maymont Estate. The city is also known for its diverse food scene and many award-winning restaurants. There are also plenty of events throughout the year, like the Richmond Folk Festival, showcasing local music and crafts, the Dominion Energy Riverrock Festival, and the Richmond International Film Festival.
With its beautiful architecture, vibrant community spirit, and cultural and recreational opportunities, Richmond is a great place to live.
Rental Market Trends
Richmond, VA
As of July 2025, Richmond's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Richmond's average rent is 14.0% ($258) lower than the Virginia average of $1,845 and 10.6% ($188) lower than the U.S. average of $1,775.
Average Rent
$1,587
Monthly ChangeMonth Over Month Change
0.1% ($2)
Yearly ChangeYear Over Year Change
7.7% ($113)
Avg. Days on MarketAverage Days on Market
29
| Unit Type | Average Rent | Monthly ChangeMonth Over Month Change | Yearly ChangeYear Over Year Change |
|---|---|---|---|
| 1 Bed | $1,391 | 1.3% ($18) | 4% ($54) |
| 2 Beds | $1,695 | 0.2% ($4) | 10% ($154) |
| 3 Beds | $2,178 | 1.6% ($34) | 3.5% ($74) |
| Nearby Cities | Average Rent | Avg. Rent vs. RichmondAverage Rent vs. Richmond | Avg. Days on MarketAverage Days on Market |
|---|---|---|---|
| Henrico | $1,721 | 8.4% ($134) | 32 days |
| Glen Allen | $1,897 | 19.5% ($310) | 34 days |
| Sandston | $1,987 | 25.2% ($400) | 30 days |
| Midlothian | $2,322 | 46.3% ($735) | 31 days |
| Mechanicsville | $1,742 | 9.8% ($155) | 38 days |
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Richmond Rental Market FAQs
Explore rental prices, market trends, and availability in Richmond, VA.
The average rent in Richmond, VA is $1,587 per month.
Homes in Richmond typically rent for between $974 and $2,831 per month, with an average of $1,587 per month.
In Richmond, the average rent for a 1-bedroom home is $1,391 per month, for a 2-bedroom home, $1,695 per month, and a 3-bedroom home is $2,178 per month.
The average rent in Richmond is 10.6% ($188) lower than the national average of $1,775 per month.
The average rent in Richmond has increased by 0.1% ($2) in the last month and increased by 7.7% ($113) over the past year.
The rental market in Richmond, VA, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.
In Richmond, VA, the average rental stays on the market for approximately 29 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 637 rental properties available in Richmond, VA.
Based on the current averages, a household would need an annual income of $67,800 to comfortably afford a 2-bedroom home in Richmond.
