What is the average apartment size in Downtown Richmond, Richmond, VA?

The average size for a Downtown Richmond, Richmond, VA apartment is 753 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 Downtown Richmond?

As of Sep / 2025, the average rent in Downtown Richmond is $1,647 per month, a 0.78% increase from last year’s average of $1,634.

How much does rent cost by apartment size in Downtown Richmond?

In Downtown Richmond, studios rent for $1,173 per month, one-bedroom units average $1,491 per month, two-bedrooms cost around $2,018 per month, and three-bedroom apartments rent for about $2,445 per month

What is the average apartment size in Downtown Richmond?

The typical apartment in Downtown Richmond offers about 753 sq. ft. square feet of living space, though actual sizes vary depending on layout and amenities.

How large are apartments by bedroom count in Downtown Richmond?

Studio apartments in Downtown Richmond average 449 sq. ft., one-bedrooms offer 683 sq. ft., two-bedrooms are about 1,039 sq. ft., and three-bedroom apartments average 1,235 sq. ft.

What are the most expensive neighborhoods in Downtown Richmond?

The most expensive neighborhoods in Downtown Richmond are The Diamond ($1,967/month), Dabney Center ($2,012/month), and Carver ($2,085/month), often due to premium locations and high-end amenities.

Downtown Richmond, Richmond, VA Rental Market Trends

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

The typical rent budget in Downtown Richmond ranges from $1,001 to $1,500 per month, with 41% of rentals in this range.

Q: Do most people rent or own in Downtown Richmond?

In Downtown Richmond, 85% of households rent while 15% own their homes, based on the latest U.S. Census data.

Q: What are the most affordable neighborhoods in Downtown Richmond?

The most affordable neighborhoods in Downtown Richmond include Cofer ($953/month), Falling Creek Villa - Sherbourne Heights ($1,194/month), and Elkhardt ($1,217/month), all below the citywide average of $1,573.

Last updated: October 19, 2025 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau

Highlights

The average rent for an apartment in Downtown Richmond is $1,647, a 0.78% increase compared to the previous year, when the average rent was $1,634.

Studio Apartments at $1,173 offer the most budget-friendly option with 449 square feet, ideal for single renters prioritizing location over space.

One-bedroom apartments provide 683 square feet for $1,491, balancing privacy and affordability.

Two-beedroom units at $2,018 offer 1,039 square feet, perfect for roommates or small families.

Three-bedroom apartments deliver maximum space (1,235 sq ft) for $2,445, suitable for larger households.

Average rent in Downtown Richmond, Richmond, VA

Last updated: October 19, 2025

	Average Rent	Average Apartment Size
All Rentals	$1,647	753 sq. ft.
Studio	$1,173	449 sq. ft.
1 Bed	$1,491	683 sq. ft.
2 Beds	$2,018	1,039 sq. ft.
3 Beds	$2,445	1,235 sq. ft.

Downtown Richmond, Richmond, VA rent trends

Rental prices in Downtown Richmond, Richmond, VA have increased by 0.78% over the past year. The average rent moved from $1,634 to $1,647.

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

The largest share of rentals in Downtown Richmond, Richmond, VA (41%) 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 Downtown Richmond, Richmond, VA?

2,453 or 85% of the households in Downtown Richmond, Richmond, VA are renter-occupied while 422 or 15% are owner-occupied.

Access comprehensive real estate data and information on Yardi Matrix

Most affordable neighborhoods in Downtown Richmond?

Cofer $953/month

Falling Creek Villa - Sherbourne Heights $1,194/month

Elkhardt $1,217/month

All of these neighborhoods fall below the city wide average of $1,573/month.

Most expensive neighborhoods in Downtown Richmond?

The Diamond $1,967/month

Dabney Center $2,012/month

Carver $2,085/month

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

Average Rent in Richmond, VA By Neighborhood

Neighborhood	Average Rent
Carver	$2,085
Dabney Center	$2,012
The Diamond	$1,967
Brittons Hill	$1,961
Stony Point	$1,946
Sauer's Gardens	$1,937
Museums	$1,935
Heritage Commons - Country Place	$1,855
Central Office	$1,839
Scott's Addition	$1,822
Austin Heights	$1,819
Crestview	$1,813
Providence Green	$1,809
Rock Creek Park	$1,734
Manchester	$1,712
The Fan	$1,699
VCU	$1,675
Museum District	$1,645
Monroe Ward	$1,605
Chamberlayne Industrial Center	$1,598
Shockoe Slip	$1,588
Belfair - Lantern Ridge	$1,584
Old Town Manchester	$1,573
Richmond City Center	$1,559
Jackson Ward	$1,543
Jahnke	$1,534
Shockoe Bottom	$1,525
Hioaks	$1,517
Upper Shockoe Valley	$1,457
Chippenham Forest	$1,441
Central Park - Crescent Park	$1,397
Malvern Gardens	$1,397
Cedarhurst	$1,382
Knightsbridge	$1,378
Woodland Heights	$1,373
Stevens Hollow - Newberry Towne	$1,355
Swanson	$1,301
Piney Knolls	$1,288
McGuire Veterans Hospital	$1,236
Elkhardt	$1,217
Falling Creek Villa - Sherbourne Heights	$1,194
Cofer	$953

Richmond | Rent Comparison by Neighborhood

Rent in Austin Heights is 15% higher than in Belfair - Lantern Ridge

$1,819

Austin Heights rent is 10% higher than Richmond average

Average Rent $1,819

$1,584

Belfair - Lantern Ridge rent is 4% lower than Richmond average

Average Rent $1,584

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 Downtown 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.