net new residents per year
Cost of Living housing Index
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House and Apartment Pricing
The average sales price of new 4-bedroom/2-bathroom homes in the Richmond Metro Area was $385,817 in 2023, according to the C2ER Cost of Living Index. Average monthly apartment rental was $1,380 for a two-bedroom apartment, according to the C2ER Cost of Living Index.
Cost of living in the Richmond MSA is 95.8, with housing at 83.8 index, both well below the national average of 100.0. The average new home price is over 21 percent below the national average, and the average 2-bedroom/1.5-bathroom apartment rent is almost 9 percent below the national average.
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