City of Richmond

The City of Richmond is Virginia’s richly historic, diverse and inclusive capital city located in the center of the region, state and East Coast. Located at the crossroads of multimodal transportation networks, the City is home to major colleges and universities, a Federal Reserve Bank, the VA Bio+Tech Park and several Fortune 1000 headquarters. The City attracts young professionals and seasoned executives alike, who are drawn to the historic and natural beauty, convenience, as well as the low cost of living and ease of doing business that Richmond offers.

Key Real Estate Developments

Central Business District

Downtown Richmond’s Central Business District offers office options convenient to some of the largest companies in the region, the state government, Interstates 95 and 64 as well as one of the largest universities in Virginia.

Scott’s Addition

Scott’s Addition is one of the City of Richmond’s fastest growing neighborhoods. Convenient access to Interstates 64, 95, 195 and the Powhite Parkway have also led to a growing number of employers choosing to relocate or open new offices in the neighborhood.

Deepwater Industrial Park

Located within a mile of the Richmond Marine Terminal and Interstate 95, Deepwater Industrial Park is a 110-acre industrial development site located south of the City of Richmond’s central business district.

Demographics + Workforce

• Population: 229,359 people
• Median household income: $64,587
• Total labor force: 131,239 people (68.2 percent)
• Mean annual wage: $78,900

Source: Chmura Economics & Analytics, JobsEQ, 2025Q3; Data Accessed March 2026.