What is the average apartment size in Richmond?

The average size for a Richmond, VA apartment is 840 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.

What is the average rent in Richmond?

As of Apr / 2026, the average rent in Richmond is $1,615 per month, a 3.22% increase from last years average of $1,565.

How much does rent cost by apartment size in Richmond?

In Richmond, studios rent for $1,323 per month, one-bedroom units average $1,492 per month, two-bedrooms cost around $1,670 per month, and three-bedroom apartments rent for about $2,103 per month

What is the average apartment size in Richmond?

The typical apartment in Richmond offers about 840 sq. ft. square feet of living space, though actual sizes vary depending on layout and amenities.

How large are apartments by bedroom count in Richmond?

Studio apartments in Richmond average 498 sq. ft., one-bedrooms offer 680 sq. ft., two-bedrooms are about 956 sq. ft., and three-bedroom apartments average 1,227 sq. ft.

What are the most expensive neighborhoods in Richmond?

The most expensive neighborhoods in Richmond are Stony Point ($1,984/month), The Diamond ($2,002/month), and Carver ($2,082/month), often due to premium locations and high-end amenities.

Richmond, VA Rental Market Trends

Q: What's the typical rent budget in Richmond?

The typical rent budget in Richmond ranges from $1,001 to $1,500 per month, with 43% of rentals in this range.

Q: Do most people rent or own in Richmond?

In Richmond, 56% of households rent while 44% own their homes, based on the latest U.S. Census data.

Q: What are the most affordable neighborhoods in Richmond?

The most affordable neighborhoods in Richmond include Falling Creek Villa - Sherbourne Heights ($1,126/month), Elkhardt ($1,222/month), and Piney Knolls ($1,307/month), all below the citywide average of $1,615.

Last updated: June 02, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau

Highlights

The average rent for an apartment in Richmond is $1,615, a 3.22% increase compared to the previous year, when the average rent was $1,565.

Studio Apartments at $1,323 offer the most budget-friendly option with 498 square feet, ideal for single renters prioritizing location over space.

One-bedroom apartments provide 680 square feet for $1,492, balancing privacy and affordability.

Two-beedroom units at $1,670 offer 956 square feet, perfect for roommates or small families.

Three-bedroom apartments deliver maximum space (1,227 sq ft) for $2,103, suitable for larger households.

Average rent in Richmond, VA

Last updated: June 02, 2026

	Average Rent	Average Apartment Size
All Rentals	$1,615	840 sq. ft.
Studio	$1,323	498 sq. ft.
1 Bed	$1,492	680 sq. ft.
2 Beds	$1,670	956 sq. ft.
3 Beds	$2,103	1,227 sq. ft.

Richmond, VA rent trends

What's the typical rent budget in Richmond, VA?

The largest share of rentals in Richmond, VA (43%) fall between $1,001-$1,500 per month. This suggests that most people succesfully find suitable apartments within this price.

Do most people rent or own in Richmond, VA?

58,914 or 56% of the households in Richmond, VA are renter-occupied while 45,407 or 44% are owner-occupied.

Most affordable neighborhoods in Richmond?

Falling Creek Villa - Sherbourne Heights $1,126/month

Elkhardt $1,222/month

Piney Knolls $1,307/month

All of these neighborhoods fall below the city wide average of $1,615/month.

Most expensive neighborhoods in Richmond?

Stony Point $1,984/month

The Diamond $2,002/month

Carver $2,082/month

These neighborhoods typically command higher rents due to location, amenities, and demand.

Average Rent in Richmond, VA By Neighborhood

Neighborhood	Average Rent
Carver	$2,082
The Diamond	$2,002
Stony Point	$1,984
Dabney Center	$1,980
Brittons Hill	$1,967
Sauer's Gardens	$1,957
Museums	$1,949
Providence Green	$1,889
Scott's Addition	$1,883
Central Office	$1,870
Heritage Commons - Country Place	$1,814
The Fan	$1,775
Manchester	$1,758
Museum District	$1,725
Crestview	$1,682
Old Town Manchester	$1,608
Shockoe Slip	$1,599
Hioaks	$1,587
Richmond City Center	$1,583
Belfair - Lantern Ridge	$1,583
Monroe Ward	$1,579
Jackson Ward	$1,561
Shockoe Bottom	$1,546
Jahnke	$1,522
Chippenham Forest	$1,507
Upper Shockoe Valley	$1,497
Central Park - Crescent Park	$1,444
Woodland Heights	$1,418
Cedarhurst	$1,353
Piney Knolls	$1,307
Elkhardt	$1,222
Falling Creek Villa - Sherbourne Heights	$1,126

Richmond | Rent Comparison by Neighborhood

Rent in Belfair - Lantern Ridge is 20% lower than in Brittons Hill

$1,583

Belfair - Lantern Ridge rent is 2% lower than Richmond average

Average Rent $1,583

$1,967

Brittons Hill rent is 22% higher than Richmond average

Average Rent $1,967

How Richmond Compares to Other Cities

City	Average Rent
Richmond	$1,615
Arlington	$2,727
Alexandria	$2,184
Charlottesville	$2,108
Newport News	$1,439
Virginia Beach	$1,794
Norfolk	$1,627
Woodbridge	$2,090
Henrico	$1,616
Chesapeake	$1,819
Fairfax	$2,372
Midlothian, VA	$1,918
Glen Allen, VA	$1,917
Petersburg, VA	$1,265
Chester, VA	$1,765
Chesterfield, VA	$1,797
Hopewell, VA	$1,306
Mechanicsville, VA	$1,726
Ashland, VA	$1,866

Where this data comes from

The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.

Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Richmond apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.

Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.