Property Prices in Richmond, VA, United States

Index Info
Price to Income Ratio: 3.01
Mortgage as Percentage of Income: 27.19%
Loan Affordability Index: 3.68
Price to Rent Ratio - City Centre: 8.60
Price to Rent Ratio - Outside of Centre: 7.91
Gross Rental Yield (City Centre): 11.63%
Gross Rental Yield (Outside of Centre): 12.64%
Rent Per Month
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Apartment (1 bedroom) in City Centre 1,564.32 $ 1,385.00-1,800.00
Apartment (1 bedroom) Outside of Centre 1,424.60 $ 1,250.00-1,600.00
Apartment (3 bedrooms) in City Centre 2,538.78 $ 2,200.00-2,900.00
Apartment (3 bedrooms) Outside of Centre 2,259.18 $ 2,000.00-2,500.00
Buy Apartment Price
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Price per Square Feet to Buy Apartment in City Centre 260.67 $ 217.02-350.00
Price per Square Feet to Buy Apartment Outside of Centre 216.18 $ 210.00-221.01
Salaries And Financing
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Average Monthly Net Salary (After Tax) 4,265.04 $
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 6.63 6.19-7.00

These data are based on 120 entries in the past 18 months from 38 different contributors.
Last update: January 2025

Sources and References
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