Richmond
Virginia · Ranked #295 of 373 metros
52Moderate
💡
Housing in Richmond costs 2.63× the median income, below the national average of 4.5×. The median home price is $136K and median rent is $825/month. Richmond ranks #295 of 373 metros for affordability.
Median Home Price
🏠$136K
Need $98K income
Median Rent
🔑$825
Need $54K income
Housing Shortage
📉20,000
units needed
Building Permits
🔨8,642
annual
Median Income
💰$52K
Pop: 1,314,434
Rent Burden
⚠️31.0%
of renters paying >30%
Price Change (YoY)
📈+4.5%
Homeownership
🏡68.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Richmond | National |
|---|---|---|
| Price-to-Income Ratio | 2.63x | 6.1x |
| Rent Burden | 31.0% | 31.5% |
| Homeownership Rate | 68.0% | 65.5% |
| YoY Price Change | +4.5% | +3.5% |
| YoY Rent Change | +3.5% | +2.8% |
| Mortgage Denial Rate | 13.5% | 13.5% |
| Eviction Rate | 6.2% | 3.6% |
House Price Index (2000–2025)
FHFA All-Transactions HPI
Since 2019: +65.7%Since 2000: +216.8%
HUD Fair Market Rents (FY2026)
Section 8 voucher payment standards
Studio$1,442/mo
1 Bedroom$1,507/mo
2 Bedroom$1,655/mo
3 Bedroom$2,072/mo
4 Bedroom$2,553/mo
Zillow Market Data
Home Value (ZHVI)
$384K
1yr: +1.7%5yr: +35.2%
Rent (ZORI)
$1,658/mo
1yr: +3.8%5yr: +36.5%
Note: ZORI reflects current listing prices and may differ from the Census ACS median rent shown above, which captures what renters actually pay including below-market and subsidized units.
Redfin Market Activity
Median Sale Price
$280K
Active Inventory
12
Days on Market
129
Sold Above List
0.0%
Price Drops
8.3%