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

The average size for a Downtown Richmond, Richmond, VA apartment is 757 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 Mar / 2026, the average rent in Downtown Richmond is $1,639 per month, a 0.39% decrease from last years average of $1,646.

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

In Downtown Richmond, studios rent for $1,181 per month, one-bedroom units average $1,502 per month, two-bedrooms cost around $2,020 per month.

What is the average apartment size in Downtown Richmond?

The typical apartment in Downtown Richmond offers about 757 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 686 sq. ft., two-bedrooms are about 1,038 sq. ft.

What are the most affordable neighborhoods in Downtown Richmond?

The most affordable neighborhoods in Downtown Richmond include Cofer ($1,018/month), Elkhardt ($1,208/month), and Falling Creek Villa - Sherbourne Heights ($1,228/month), all below the citywide average of $1,600.

What are the most expensive neighborhoods in Downtown Richmond?

The most expensive neighborhoods in Downtown Richmond are The Diamond ($1,969/month), Westbourne ($2,036/month), and Carver ($2,174/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 $1,501 to $2,000 per month, with 40% 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.

Last updated: April 14, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau

Highlights

The average rent for an apartment in Downtown Richmond is $1,639, a 0.39% decrease compared to the previous year, when the average rent was $1,646.

Studio Apartments at $1,181 offer the most budget-friendly option with 449 square feet, ideal for single renters prioritizing location over space.

One-bedroom apartments provide 686 square feet for $1,502, balancing privacy and affordability.

Two-beedroom units at $2,020 offer 1,038 square feet, perfect for roommates or small families.

Average rent in Downtown Richmond, Richmond, VA

Last updated: April 14, 2026

	Average Rent	Average Apartment Size
All Rentals	$1,639	757 sq. ft.
Studio	$1,181	449 sq. ft.
1 Bed	$1,502	686 sq. ft.
2 Beds	$2,020	1,038 sq. ft.
3 Beds	n/a	n/a

Downtown Richmond, Richmond, VA rent trends

Rental prices in Downtown Richmond, Richmond, VA have decreased by 0.39% over the past year. The average rent moved from $1,646 to $1,639.

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

The largest share of rentals in Downtown Richmond, Richmond, VA (40%) fall between $1,501-$2,000 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?

2,572 or 85% of the households in Downtown Richmond, Richmond, VA are renter-occupied while 465 or 15% are owner-occupied.

Most affordable neighborhoods in Downtown Richmond?

Cofer $1,018/month

Elkhardt $1,208/month

Falling Creek Villa - Sherbourne Heights $1,228/month

All of these neighborhoods fall below the city wide average of $1,600/month.

Most expensive neighborhoods in Downtown Richmond?

The Diamond $1,969/month

Westbourne $2,036/month

Carver $2,174/month

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

Average Rent in Richmond, VA By Neighborhood

Neighborhood	Average Rent
Carver	$2,174
Westbourne	$2,036
The Diamond	$1,969
Dabney Center	$1,964
Brittons Hill	$1,955
Sauer's Gardens	$1,939
Stony Point	$1,936
Museums	$1,927
Scott's Addition	$1,869
Providence Green	$1,859
Central Office	$1,849
Heritage Commons - Country Place	$1,810
Rock Creek Park	$1,773
The Fan	$1,754
Manchester	$1,730
Crestview	$1,714
Museum District	$1,700
VCU	$1,700
Chamberlayne Industrial Center	$1,612
Shockoe Slip	$1,596
Belfair - Lantern Ridge	$1,584
Old Town Manchester	$1,581
Richmond City Center	$1,560
Jackson Ward	$1,557
Monroe Ward	$1,546
Shockoe Bottom	$1,519
Jahnke	$1,514
Hioaks	$1,510
Chippenham Forest	$1,495
Upper Shockoe Valley	$1,474
Central Park - Crescent Park	$1,422
Malvern Gardens	$1,414
Stevens Hollow - Newberry Towne	$1,413
Woodland Heights	$1,400
Cedarhurst	$1,341
Piney Knolls	$1,307
Falling Creek Villa - Sherbourne Heights	$1,228
Elkhardt	$1,208
Cofer	$1,018

Richmond | Rent Comparison by Neighborhood

Rent in Belfair - Lantern Ridge is 19% lower than in Brittons Hill

$1,584

Belfair - Lantern Ridge rent is 3% lower than Richmond average

Average Rent $1,584

$1,955

Brittons Hill rent is 19% higher than Richmond average

Average Rent $1,955

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.