What is the average apartment size in Downtown Richmond, Richmond, VA?

The average size for a Downtown Richmond, Richmond, VA apartment is 753 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 Downtown Richmond?

As of Jan / 2026, the average rent in Downtown Richmond is $1,637 per month, a 0.17% decrease from last years average of $1,640.

How much does rent cost by apartment size in Downtown Richmond?

In Downtown Richmond, studios rent for $1,200 per month, one-bedroom units average $1,510 per month, two-bedrooms cost around $2,013 per month, and three-bedroom apartments rent for about $2,399 per month

What is the average apartment size in Downtown Richmond?

The typical apartment in Downtown Richmond offers about 753 sq. ft. square feet of living space, though actual sizes vary depending on layout and amenities.

How large are apartments by bedroom count in Downtown Richmond?

Studio apartments in Downtown Richmond average 449 sq. ft., one-bedrooms offer 684 sq. ft., two-bedrooms are about 1,041 sq. ft., and three-bedroom apartments average 1,235 sq. ft.

What are the most expensive neighborhoods in Downtown Richmond?

The most expensive neighborhoods in Downtown Richmond are Brittons Hill ($1,965/month), Dabney Center ($2,001/month), and Carver ($2,163/month), often due to premium locations and high-end amenities.

Downtown Richmond, Richmond, VA Rental Market Trends

Q: What's the typical rent budget in Downtown Richmond?

The typical rent budget in Downtown Richmond ranges from $1,001 to $1,500 per month, with 42% of rentals in this range.

Q: Do most people rent or own in Downtown Richmond?

In Downtown Richmond, 85% of households rent while 15% own their homes, based on the latest U.S. Census data.

Q: What are the most affordable neighborhoods in Downtown Richmond?

The most affordable neighborhoods in Downtown Richmond include Cofer ($960/month), Falling Creek Villa - Sherbourne Heights ($1,162/month), and Elkhardt ($1,219/month), all below the citywide average of $1,590.

Last updated: February 22, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau

Highlights

The average rent for an apartment in Downtown Richmond is $1,637, a 0.17% decrease compared to the previous year, when the average rent was $1,640.

Studio Apartments at $1,200 offer the most budget-friendly option with 449 square feet, ideal for single renters prioritizing location over space.

One-bedroom apartments provide 684 square feet for $1,510, balancing privacy and affordability.

Two-beedroom units at $2,013 offer 1,041 square feet, perfect for roommates or small families.

Three-bedroom apartments deliver maximum space (1,235 sq ft) for $2,399, suitable for larger households.

Average rent in Downtown Richmond, Richmond, VA

Last updated: February 22, 2026

	Average Rent	Average Apartment Size
All Rentals	$1,637	753 sq. ft.
Studio	$1,200	449 sq. ft.
1 Bed	$1,510	684 sq. ft.
2 Beds	$2,013	1,041 sq. ft.
3 Beds	$2,399	1,235 sq. ft.

Downtown Richmond, Richmond, VA rent trends

Rental prices in Downtown Richmond, Richmond, VA have decreased by 0.17% over the past year. The average rent moved from $1,640 to $1,637.

What's the typical rent budget in Downtown Richmond, Richmond, VA?

The largest share of rentals in Downtown Richmond, Richmond, VA (42%) 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 Downtown Richmond, Richmond, VA?

2,453 or 85% of the households in Downtown Richmond, Richmond, VA are renter-occupied while 422 or 15% are owner-occupied.

Most affordable neighborhoods in Downtown Richmond?

Cofer $960/month

Falling Creek Villa - Sherbourne Heights $1,162/month

Elkhardt $1,219/month

All of these neighborhoods fall below the city wide average of $1,590/month.

Most expensive neighborhoods in Downtown Richmond?

Brittons Hill $1,965/month

Dabney Center $2,001/month

Carver $2,163/month

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

Average Rent in Richmond, VA By Neighborhood

Neighborhood	Average Rent
Carver	$2,163
Dabney Center	$2,001
Brittons Hill	$1,965
The Diamond	$1,960
Stony Point	$1,928
Museums	$1,925
Sauer's Gardens	$1,918
Scott's Addition	$1,898
Central Office	$1,846
Providence Green	$1,826
Heritage Commons - Country Place	$1,795
Rock Creek Park	$1,781
VCU	$1,781
Crestview	$1,765
Museum District	$1,728
Manchester	$1,727
The Fan	$1,677
Chamberlayne Industrial Center	$1,659
Malvern Gardens	$1,625
Shockoe Slip	$1,610
Old Town Manchester	$1,591
Belfair - Lantern Ridge	$1,579
Monroe Ward	$1,577
Jackson Ward	$1,560
Richmond City Center	$1,555
Shockoe Bottom	$1,513
Hioaks	$1,499
Chippenham Forest	$1,494
Jahnke	$1,486
Central Park - Crescent Park	$1,443
Cedarhurst	$1,361
Upper Shockoe Valley	$1,356
Woodland Heights	$1,336
Piney Knolls	$1,300
Stevens Hollow - Newberry Towne	$1,299
Elkhardt	$1,219
Falling Creek Villa - Sherbourne Heights	$1,162
Cofer	$960

Richmond | Rent Comparison by Neighborhood

Rent in Belfair - Lantern Ridge is 20% lower than in Brittons Hill

$1,579

Belfair - Lantern Ridge rent is 4% lower than Richmond average

Average Rent $1,579

$1,965

Brittons Hill rent is 20% higher than Richmond average

Average Rent $1,965

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 Downtown 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.