Richmond, VA housing market
Typical home value
$362K
▲ 2.8% 1 yr
Typical rent
$1,628/mo
▲ 2.6% 1 yr
Gross rent yield
5.4%
U.S. 6.3%
5-year home value change
+24%
U.S. +20%
Key takeaways
- 1The typical home in Richmond is worth $361,844, up 2.8% over the past year and up 24% over five years.
- 2Typical rent is $1,628 a month (+2.6% YoY), a gross rent yield of 5.4% (above the Richmond, VA metro's 5.2%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $1,988/mo, $360 more than typical rent.
- 4Zillow forecasts the Richmond, VA metro's home values to change +2.4% over the next 12 months.
Market temperature (Richmond, VA metro)
Neutral market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 44/100, #215 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Richmond compares
| Measure | Richmond | Richmond, VA metro | United States |
|---|---|---|---|
| Typical home value | $361,844 | $392,106 | $366,157 |
| Home value, 1-yr change | +2.8% | +2.6% | +1.2% |
| Typical rent | $1,628 | $1,706 | $1,932 |
| Rent, 1-yr change | +2.6% | +2.5% | +2.7% |
| Gross rent yield | 5.4% | 5.2% | 6.3% |
| Price-to-rent ratio | 18.5 | 19.2 | 15.8 |
| Mortgage P&I, typical home | $1,988 | $2,155 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Richmond rental, pre-filled.
Rent vs buy in Richmond
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $362K home.
Other cities in the Richmond, VA metro
Henrico, VA
$405K home$1,722 rent
▲ 1.9% 1 yr
Midlothian, VA
$469K home$2,028 rent
▲ 2.5% 1 yr
Chesterfield, VA
$413K home$2,178 rent
▲ 2.5% 1 yr
Glen Allen, VA
$513K home$2,022 rent
▲ 1.4% 1 yr
Petersburg, VA
$249K home$1,373 rent
▲ 2.9% 1 yr
Chester, VA
$391K home$1,829 rent
▲ 2.2% 1 yr
Hopewell, VA
$232K home$1,322 rent
▲ 2.3% 1 yr
Colonial Heights, VA
$296K home$1,665 rent
▲ 1.2% 1 yr
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.