The Alder on Dabney
2001 Dabney Rd,
Richmond, VA 23230
Studio - 3 Beds | $1,450 - $3,665
Rental Market Trends in Richmond, VA
What is the average rent in Richmond, VA?
$1,362/month
Average Rent
686 Sq Ft
Average Apartment Size
+2.1%
Increase in the Last Year
As of December 2024, the average rent in Richmond, VA is $1,362 per month. For comparison, the national average rent price in the US is currently $1,560/month, which means Richmond rent prices are 13% lower than the national average. When you rent an apartment in Richmond, you can expect to pay about $1,195 per month for a studio, $1,362 for a one-bedroom apartment, and around $1,547 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,003 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Richmond, VA?
In the past year, rent has increased by 2.1%, which averages out to $29 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated December 2024
Legend
2023
2024
Rent Ranges in Richmond, VA
Last Updated December 2024
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
4%
Below $700/month
9%
$700 - $1,000/month
52%
$1,001 - $1,500/month
31%
$1,501 - $2,000/month
4%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Richmond?
Based on current rent prices, Hioaks, Upper Shockoe Valley and Monroe Ward are the most affordable neighborhoods in Richmond.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Richmond?
Based on current rent prices, The Diamond, Scott's Addition and Sauer's Gardens are the most expensive neighborhoods in Richmond.
Neighborhood
Average Rent
Average Sq Ft
Which Richmond neighborhoods have the most rentals available?
The neighborhoods in Richmond with the most apartments available are Downtown Richmond, Midtown Richmond and Old Town Manchester .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Richmond, VA?
Because the average rent in Richmond is $1,362, you’ll want to make about $4,540 per month or $54,480 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Richmond, VA compare to other nearby cities and neighborhoods?
Use the tool below to compare Richmond, VA to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
-
$1,421/month
One Bedroom
$1,155/month
$1,740/month
Two Bedroom
$1,541/month
$2,240/month
Three Bedroom
$1,874/month
$3,485/month
Nearby City Rent Trends
Apartment communities in Richmond we think you'll love
Property Management Companies in Richmond, VA
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45
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16
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Drucker + Falk
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148
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106
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21,028
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General Services Corporation
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66
Communities
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21,922
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26
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PRG Real Estate Management, Inc.
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31
Communities
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8,116
Units
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16
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11 Communities in Richmond
Landmark Property Services
-
17
Communities
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2,929
Units
-
7
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Spy Rock Real Estate Group
-
18
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-
3,633
Units
-
5
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Real Property Management
-
20
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907
Units
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10
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.