The Alder on Dabney
2001 Dabney Rd,
Richmond, VA 23230
$1,680 - $2,875 Plus Fees
1-3 Beds
Rental Market Trends in Richmond, VA
What is the average rent in Richmond, VA?
$1,414/month
Average Rent
686 Sq Ft
Average Apartment Size
+0.1%
Increase in the Last Year
As of March 2026, the average rent in Richmond, VA is $1,414 per month. For comparison, the national average rent price in the US is currently $1,627/month, which means Richmond rent prices are 13% lower than the national average. When you rent an apartment in Richmond, you can expect to pay about $1,257 per month for a studio, $1,414 for a one-bedroom apartment, and around $1,612 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,007 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Richmond, VA?
In the past year, rent has increased by 0.1%, which averages out to $2 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated March 2026
Legend
2025
2026
Rent Ranges in Richmond, VA
Last Updated March 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
3%
Below $700/month
8%
$700 - $1,000/month
47%
$1,001 - $1,500/month
35%
$1,501 - $2,000/month
7%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Richmond?
Based on current rent prices, Bensley Townhomes, Bensley Village and Elkhardt are the most affordable neighborhoods in Richmond.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Richmond?
Based on current rent prices, Andover Hills, Carytown and Westhaven are the most expensive neighborhoods in Richmond.
Neighborhood
Average Rent
Average Sq Ft
Which Richmond neighborhoods have the most rentals available?
The neighborhoods in Richmond with the most apartments available are Downtown Richmond, Midtown Richmond and Old Town Manchester .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Richmond, VA?
Because the average rent in Richmond is $1,414, you’ll want to make about $4,713 per month or $56,556 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Richmond, VA is 5.0% lower than the national average. Generally, housing in Richmond is 14.7% less expensive than the national average, with rent falling between $1,257 - $2,007. You can expect to pay 0.9% less for groceries, 4.1% less for utilities, and 1.5% less for transportation.
How does Richmond, VA compare to other nearby cities and neighborhoods?
Use the tool below to compare Richmond, VA to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
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One Bedroom
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Two Bedroom
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Three Bedroom
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Nearby City Rent Trends
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2026.
* Percentages may not total 100 due to rounding.