A wide variety of housing types and styles are available in city, suburban, and rural locations. Choices include downtown apartments in renovated warehouses, historic townhouses, golf course and waterfront communities, and farms. Whatever your lifestyle, there’s a place for you in Greater Richmond.
- The counties of Chesterfield, Hanover and Henrico are triple AAA rated for their financial bonds, and the City of Richmond has Aa1 and AA+ ratings.
- One of 13 “Major U.S. Cities Where You Can Live Well on Less Than $50,000 a Year” — Inc.com
- #2 City Millennials are Moving To – Time
- Top 5 Hippest cities in the U.S. everyone under 30 wants to move to – Business Insider
- #16 Most Millennial City – Politico
- 100+ murals decorate the Richmond City landscape.
House and Apartment Pricing
The average sales price of new 4-bedroom/2-bathroom homes in the Richmond Metro Area was $301,136 in 2019, according to the C2ER Cost of Living Index. Average monthly apartment rental was $1,070 for a two bedroom apartment, according to the C2ER Cost of Living Index.
Cost of living in the Richmond MSA is 93.9, with housing at 85.1 index, both well below the national average of 100.0. The average new home price is nearly 18% below the national average, and apartment prices are 7.3% below the national average for a 2-bedroom, 1.5-bath unit.
In addition to low costs, residents in Greater Richmond are getting plenty of space for their rent/mortgage. 90 percent of houses and apartments in Greater Richmond have patios, and 73 percent have two or more bathrooms.