The Alder on Dabney
2001 Dabney Rd,
Richmond, VA 23230
Studio - 3 Beds | $1,626 - $3,771
Rental Market Trends in Richmond, VA
What is the average rent in Richmond, VA?
$1,416/month
Average Rent
683 Sq Ft
Average Apartment Size
+2.4%
Increase in the Last Year
As of July 2025, the average rent in Richmond, VA is $1,416 per month. For comparison, the national average rent price in the US is currently $1,637/month, which means Richmond rent prices are 14% lower than the national average. When you rent an apartment in Richmond, you can expect to pay about $1,245 per month for a studio, $1,416 for a one-bedroom apartment, and around $1,605 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,053 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 2.4%, which averages out to $34 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 July 2025
Legend
2024
2025
Rent Ranges in Richmond, VA
Last Updated July 2025
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
4%
Below $700/month
9%
$700 - $1,000/month
47%
$1,001 - $1,500/month
34%
$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 Village, Bensley Townhomes 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, Stony Point, Carytown and Three Chopt 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 $1,416, you’ll want to make about $4,720 per month or $56,640 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 5.6% lower than the national average. Generally, housing in Richmond is 15.3% less expensive than the national average, with rent falling between $1,245 - $2,053. You can expect to pay 0.5% less for groceries, 3.8% less for utilities, and 4.2% 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.
Studio
-
-
One Bedroom
-
$1,703/month
Two Bedroom
-
$1,981/month
Three Bedroom
-
$2,249/month
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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 June 2025.
* Percentages may not total 100 due to rounding.