Richmond, VA Rent Trends

Rank #40, last updated June 20

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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 $1,300. The average rent of a 2-bedroom in Richmond, VA is $1,506. The average rent of a 3-bedroom in Richmond, VA is $2,373.

Studio

$1,195


1 bed

$1,300


2 beds

$1,506


3+ beds

$2,373

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

Jun 05 2024Jul 19 2024Sep 02 2024Oct 18 2024Dec 03 2024Jan 18 2025Mar 05 2025Apr 20 2025Jun 20 2025$1,040$1,240$1,440$1,800
  • Richmond
  • National

Apartment Rent Ranges in Richmond

The monthly rent for apartments in Richmond, VA ranges from $600 to $2,600+.

$600 - $1,100

$1,100 - $1,600

$1,600 - $2,100

$2,100 - $2,600

$2,600+

What is the average apartment size in Richmond?

The average size of a Richmond, VA apartment is 835 square feet, while the median apartment size for Richmond, VA is 785 square feet. However, square footage varies based on unit type. Most rentals in Richmond, VA (38.63%) are 1 bedroom apartments, while the fewest (3.56%) are studio apartments. Meanwhile, 2 bedroom apartments account for 34.38%, and 3+ bedroom apartments make up 23.42%.

Studio

One bedroom

Two bedrooms

Three+ bedrooms

What is the average rent for various neighborhoods in Richmond?

Studio1 bed2 beds3+ beds
Carver$1,270$1,385$1,803$2,380
Fulton*$995$1,073*
Jackson Ward**$1,400$2,350
Jahnke*$1,620$1,856*
Monroe Ward*$1,344$1,825$2,538
Museum District*$1,400$1,690*
Old Town Manchester*$1,294$1,640*
Randolph*$1,266$1,399$2,485
Shockoe Bottom*$1,375$1,659*
Shockoe Slip*$1,294$1,650*
Swansboro*$845$1,200*
The Fan*$1,400$2,400$2,748

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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