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Richmond

Learn about the people, housing, costs and businesses in Richmond County

Median Home$368,155
Median Rent$1,350/month
Population229,359
Leading IndustriesHealthcare · Arts, Food & Hospitality · Professional Services14% healthcare
Home Value Growth⬆⬆+19.5% over 2 years
Young Adults41% of residentstop 1% nationally
Renters56% of occupied units
NotableAmenity Score82/100 · highly walkable area
NotableHighly Educated26% bachelor's · 12% graduate · top 6% nationally
Richmond City
VA

Frequently Asked Questions

What are today's mortgage rates in Richmond?

As of today, the 30-year fixed mortgage rate for Richmond is approximately 6.971% (6.996% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Richmond?

The median home value in Richmond is $368k. The median monthly rent is $1,350. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Richmond?

Home values in Richmond have increased 19.5% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Richmond?

Based on a typical all-in ownership cost of $1,440/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $62k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Richmond is $70k/year.

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What industries drive the economy in Richmond?

The largest employment sectors in Richmond are public administration (25%) and healthcare (14%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.

🗺️ Nearby Areas

Adjacent counties and areas