Richmond, VA Rent Trends

Rank #46, last updated April 3

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To calculate the apartment rental trends in each city or neighborhood, ApartmentAdvisor evaluates thousands of available apartment listings in a given market and updates this information daily.

What is the average rent in Richmond?

The average rent of a studio apartment in Richmond, VA is $1,195. The average rent of a 1-bedroom in Richmond, VA is $1,270. The average rent of a 2-bedroom in Richmond, VA is $1,589. The average rent of a 3-bedroom in Richmond, VA is $2,595.

Studio

$1,195


1 bed

$1,270


2 beds

$1,589


3+ beds

$2,595

Note: We calculate "average" rent as the median, or midpoint, to eliminate any skew from extremely high-priced or low-priced units.

Rent Prices Over Time in Richmond

Mar 16 2024May 02 2024Jun 17 2024Jul 31 2024Sep 15 2024Oct 31 2024Dec 16 2024Jan 31 2025Apr 03 2025$1,040$1,290$1,540$1,850
  • Richmond
  • National

Apartment Rent Ranges in Richmond

The monthly rent for apartments in Richmond, VA ranges from $400 to $2,800+.

$400 - $1,000

$1,000 - $1,600

$1,600 - $2,200

$2,200 - $2,800

$2,800+

What is the average apartment size in Richmond?

The average size of a Richmond, VA apartment is 872 square feet, while the median apartment size for Richmond, VA is 810 square feet. However, square footage varies based on unit type. Most rentals in Richmond, VA (34.4%) are 1 bedroom apartments, while the fewest (4.93%) are studio apartments. Meanwhile, 2 bedroom apartments account for 32.37%, and 3+ bedroom apartments make up 28.3%.

Studio

One bedroom

Two bedrooms

Three+ bedrooms

What is the average rent for various neighborhoods in Richmond?

Studio1 bed2 beds3+ beds
Carver$1,295$1,358$1,753$2,790
Jackson Ward**$1,314$2,875
Jahnke*$1,619$1,879$2,145
Monroe Ward*$1,300$1,667$2,600
Museum District*$1,260$1,695$2,275
Old Town Manchester$1,195$1,385$1,487*
Randolph*$1,200$1,600$2,950
Shockoe Bottom$1,180$1,399$1,675*
The Fan*$1,298$1,779$2,448

Note: We calculate "average" rent as the median, or midpoint, to eliminate any skew from extremely high-priced or low-priced units.

* Insufficient data to calculate value

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