Last updated
Average Rent in Richmond, VA & Rent Trends
Rent prices and market trends across 7 apartment communities in Richmond, VA. Updated daily.
Market Average
$1,928/mo
▼ 2.5% from last month
Lowest Available
$1,462/mo
cheapest unit on market
Communities
7
tracked daily
Units Listed
87
available now
Rent by Neighborhood in Richmond, VA
Compare average rent across Richmond, VA neighborhoods. Click any area to see detailed trends.
| Neighborhood | Avg Rent | From | Properties | Units |
|---|---|---|---|---|
| Richmond 23230 | $2,087 | $1,624 | 3 | 87 |
| The Fan District | $1,983 | $1,605 | 1 | 10 |
| Richmond 23231 | $1,883 | $1,489 | 2 | 11 |
| Downtown | $1,745 | $1,745 | 1 | 1 |
| Richmond 23223 | $1,716 | $1,462 | 1 | 6 |
Is Rent Going Up or Down in Richmond, VA?
As of May 2026, the average rent in Richmond, VA is $1,928 per month across 7 apartment communities and 87 available units. Rents have decreased $52 (2.5%) over the past month.
The most affordable option is Shiplock Views starting at $1,462/mo. By unit type, a 1-bedroom averages $1,928/mo.
Prices range from $1,462 to $2,548 per month. The most common price point is the $1,800 range, where 29 units are currently listed.
Richmond, VA Rent Price History
Rent Price Distribution
Rent by Bedroom Type in Richmond, VA
Rent Prices by Apartment in Richmond, VA
| Property | Starting at | Average | Units | Rating |
|---|---|---|---|---|
| Shiplock Views | $1,462/mo | $1,543/mo | 4 | 4.2 |
| The Waterford At Rocketts Landing | $1,508/mo | $1,508/mo | 1 | 4.7 |
| East 51 At Rocketts Landing | $1,522/mo | $1,720/mo | 5 | 4.8 |
| The Westbrook at Brewers Row | $1,605/mo | $1,643/mo | 4 | 3.9 |
| NOVEL Scott's Addition by Crescent Communities | $1,624/mo | $1,945/mo | 33 | 4.7 |
| GEM at Scott's Collection | $1,760/mo | $2,018/mo | 20 | 3.7 |
| INK at Scott's Collection | $1,760/mo | $2,018/mo | 20 | 4.7 |
Google Search Trends for Richmond, VA Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
Frequently Asked Questions About Rent in Richmond, VA
What is the average rent in Richmond, VA?
Is rent going up or down in Richmond, VA?
What is the cheapest apartment in Richmond, VA?
How much is a 1-bedroom apartment in Richmond, VA?
How many apartments are available in Richmond, VA?
What salary do I need to live comfortably in Richmond, VA?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$77,000/year
30 percent rule -- using our average rent of $1,928/mo.
Comfortable income
$93,000/year
25 percent rule -- leaves more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($1,462/mo), you need to earn at least $58,000/year.
Median household income in Richmond, VA is $62,671 , about 32% below the comfortable-living threshold.
Cost of living in Richmond, VA
Overall prices in Richmond, VA runs below the national average by about 2% (BEA Regional Price Parity index 98.3, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Richmond, VA's regional price parities.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $1,928 |
| Utilities | $434 |
| Groceries | $524 |
| Transportation | $1,036 |
| Healthcare | $505 |
| Other goods and services | $808 |
| Estimated total | $5,236/mo |
Population
227,595
Median household income
$62,671
Census median rent
$1,314/mo
Rent as % of income
31.4%
Median age
34.5
Mean commute
22 min
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures were last published in 2023.
Explore Richmond, VA Apartments
Browse all 7 communities with daily-updated pricing and availability.