The Alder on Dabney
2001 Dabney Rd,
Richmond, VA 23230
Studio - 2 Beds | $1,600 - $2,825
Rental Market Trends in Richmond, VA
Updated July 2026
The average rent in Richmond, VA is $1,439/month.
Rent in Richmond is roughly equal to the national average rent of of $1,663/month.
$1,439/month
Average Rent
684 Sq Ft
Average Size
+1.3%
Change / Year
6,913
Available Apartments
Richmond rent varies by unit size and layout:
- Studio apartments in Richmond average $1,272 per month.
- One-bedroom apartments in Richmond average $1,439 per month.
- Two-bedroom apartments in Richmond average $1,620 per month.
- Three-bedroom apartments in Richmond average $2,035 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Richmond, VA?
In the past year, rent has increased by 1.3%, which averages out to $19 more per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in Richmond, VA
July 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
3%
Below $700/month
8%
$700 - $1,000/month
44%
$1,001 - $1,500/month
37%
$1,501 - $2,000/month
8%
Above $2,000/month
Rent by Neighborhood
What are the most affordable neighborhoods in Richmond?
Based on current rent prices, McGuire, Elkhardt and Worthington 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, Carytown, Malvern Gardens and Colonial Place 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, Old Town Manchester and Midtown Richmond .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Richmond, VA?
Because the average rent in Richmond is $1,439, you’ll want to make about $4,796 per month or $57,552 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 4.8% lower than the national average. Generally, housing in Richmond is 14.2% less expensive than the national average, with rent falling between $1,272 - $2,035. You can expect to pay 0.4% less for groceries, 3.5% less for utilities, and 2.4% 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.
View the Richmond Area GuideStudio
$791/month
$1,186/month
One Bedroom
$889/month
$1,160/month
Two Bedroom
$1,401/month
$2,057/month
Three Bedroom
$1,518/month
$2,361/month
Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
Apartment Communities in Richmond We Think You'll Love
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Frequently Asked Questions
What is the average rent in Richmond?
The average rent in Richmond is $1,439 per month, which is 13.5% lower than the national average of $1,663.
What is the average rent for a house in Richmond?
The average rent for a house in Richmond, VA is $2,258 per month.
What is the average rent for a townhome in Richmond?
The average rent for a townhome in Richmond, VA is $1,860 per month.
What is the average rent for a condo in Richmond?
The average rent for a condo in Richmond, VA is $1,333 per month.
Are rents going up or down in Richmond?
Rents in Richmond, VA are increasing, with prices up 1.3% year-over-year and $19 more per month.
What rent range is most common in Richmond?
In Richmond, VA, 44% of apartments fall between $1,001 - $1,500/month, though prices may vary depending on location and other factors.
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 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.