Richmond
Virginia · Ranked #42 of 102 metros
52Moderate
Median Home Price
🏠$340K
Need $98K income
Median Rent
🔑$1K
Need $54K income
Housing Shortage
📉20,000
units needed
Building Permits
🔨9,500
annual
Median Income
💰$68K
Pop: 1,314,434
Rent Burden
⚠️31.0%
of renters paying >30%
Price Change (YoY)
📈+4.5%
Homeownership
🏡64.5%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Richmond | National |
|---|---|---|
| Price-to-Income Ratio | 5x | 6.1x |
| Rent Burden | 31.0% | 31.5% |
| Homeownership Rate | 64.5% | 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% |