Richmond - VA housing market

The typical Richmond home is worth $394,521 as of August 2026, up 0.2% from the prior month, up 0.5% over three months, and up 2.6% from a year ago. Over the past two years values have ranged from $380,573 to $394,521.

Homes are going pending in about 11 days, slower than the 6 days seen three months earlier. There are roughly 3,591 homes for sale, 7% more than a year ago. 28.4% of listings have taken a price cut (up from 20.0% three months ago).

Typical rent is $1,729 a month, up 2.7% year over year, which puts the price-to-rent ratio at 19.0.

At this week's 7.40% mortgage rate with 20% down ($78,904), the typical Richmond home costs about $2,678 a month including tax and insurance, which needs a household income of roughly $114,800 to stay under a 28% payment-to-income ratio.

The typical home value ($394,521) is the Zillow Home Value Index for the Richmond - VA metro area: a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.

Prices are up 2.6% over the past year. In Richmond - VA, that means a home worth $384,523 last year is now worth roughly $394,521.

The median sale price, what homes actually close for, is $389,861. Homes are selling at 101.0% of list price, meaning buyers are typically paying at or above asking.

Homes listed in Richmond - VA sit on the market for roughly 11 days before going pending. Shorter = seller's market; longer = buyer's market.

About 28.4% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.

Roughly 1,552 new listings hit the market each month in Richmond - VA. There are currently 3,591 homes for sale, up 7.1% from a year ago.

The typical monthly rent in Richmond - VA is $1,729, up 2.7% year over year. On the Rent vs Buy Index that is a price-to-rent ratio of 19.0x, toss-up (#60 of 195 metros). The mortgage on a typical home here, 20% down at today's 7.4% 30-year rate, runs about $2,185 a month in principal and interest, $456 more than renting before taxes, insurance and upkeep. The two break even at a 5.18% rate.

What's not on this page

This is market-level data, not property-level. We don't list individual homes for sale. For that, go to Zillow, Redfin, or your local MLS.

Data: Zillow Research (ZHVI and market indicators), refreshed monthly at the source. This page was rebuilt October 2026. Methodology →