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 Feb / 2026, the average rent in Richmond is $1,600 per month, a 3.59% increase from last years average of $1,544.

How much does rent cost by apartment size in Richmond?

In Richmond, studios rent for $1,306 per month, one-bedroom units average $1,475 per month, two-bedrooms cost around $1,653 per month, and three-bedroom apartments rent for about $2,107 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 681 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 Dabney Center ($1,964/month), The Diamond ($1,969/month), and Carver ($2,174/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 45% of rentals in this range.

Q: Do most people rent or own in Richmond?

In Richmond, 57% of households rent while 43% 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 Elkhardt ($1,208/month), Falling Creek Villa - Sherbourne Heights ($1,228/month), and Piney Knolls ($1,307/month), all below the citywide average of $1,600.

Last updated: March 30, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau

Highlights

The average rent for an apartment in Richmond is $1,600, a 3.59% increase compared to the previous year, when the average rent was $1,544.

Studio Apartments at $1,306 offer the most budget-friendly option with 498 square feet, ideal for single renters prioritizing location over space.

One-bedroom apartments provide 681 square feet for $1,475, balancing privacy and affordability.

Two-beedroom units at $1,653 offer 956 square feet, perfect for roommates or small families.

Three-bedroom apartments deliver maximum space (1,227 sq ft) for $2,107, suitable for larger households.

Average rent in Richmond, VA

Last updated: March 30, 2026

	Average Rent	Average Apartment Size
All Rentals	$1,600	840 sq. ft.
Studio	$1,306	498 sq. ft.
1 Bed	$1,475	681 sq. ft.
2 Beds	$1,653	956 sq. ft.
3 Beds	$2,107	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 (45%) 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?

57,759 or 57% of the households in Richmond, VA are renter-occupied while 44,386 or 43% are owner-occupied.

Most affordable neighborhoods in Richmond?

Elkhardt $1,208/month

Falling Creek Villa - Sherbourne Heights $1,228/month

Piney Knolls $1,307/month

All of these neighborhoods fall below the city wide average of $1,600/month.

Most expensive neighborhoods in Richmond?

Dabney Center $1,964/month

The Diamond $1,969/month

Carver $2,174/month

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

Average Rent in Richmond, VA By Neighborhood

Neighborhood	Average Rent
Carver	$2,174
The Diamond	$1,969
Dabney Center	$1,964
Brittons Hill	$1,955
Sauer's Gardens	$1,939
Stony Point	$1,936
Museums	$1,927
Scott's Addition	$1,869
Providence Green	$1,859
Central Office	$1,849
Heritage Commons - Country Place	$1,810
The Fan	$1,754
Manchester	$1,730
Crestview	$1,714
Museum District	$1,700
Shockoe Slip	$1,596
Belfair - Lantern Ridge	$1,584
Old Town Manchester	$1,581
Richmond City Center	$1,560
Jackson Ward	$1,557
Monroe Ward	$1,546
Shockoe Bottom	$1,519
Hioaks	$1,510
Chippenham Forest	$1,495
Upper Shockoe Valley	$1,474
Central Park - Crescent Park	$1,422
Woodland Heights	$1,400
Cedarhurst	$1,341
Piney Knolls	$1,307
Falling Creek Villa - Sherbourne Heights	$1,228
Elkhardt	$1,208

Richmond | Rent Comparison by Neighborhood

Rent in Belfair - Lantern Ridge is 19% lower than in Brittons Hill

$1,584

Belfair - Lantern Ridge rent is 1% lower than Richmond average

Average Rent $1,584

$1,955

Brittons Hill rent is 22% higher than Richmond average

Average Rent $1,955

How Richmond Compares to Other Cities

City	Average Rent
Richmond	$1,600
Henrico, VA	$1,603
Midlothian, VA	$1,886
Glen Allen, VA	$1,872
Petersburg, VA	$1,254
Chester, VA	$1,745
Chesterfield, VA	$1,761
Hopewell, VA	$1,288
Mechanicsville, VA	$1,708
Prince George, VA	$1,405
Ashland, VA	$1,839

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.