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Richmond, Virginia

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Data-driven estimates for Richmond — with the methodology behind every number.

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Richmond market snapshot

Median Sale Price
$389K
Median Days on Market
37 days
Active Listings
32

RentCast market data · City of Richmond County, Virginia

About Richmond, Virginia

Richmond (, RITCH-mənd) is the capital city of the U.S. state of Virginia. Incorporated in 1742, Richmond has been an independent city since 1871. It is the fourth-most populous city in Virginia, with a population of 226,610 at the 2020 census. The Richmond metropolitan area, with over 1.37 million residents, is the third-most populous metropolitan area in Virginia and 44th-largest in the United States.

Richmond is located at the James River's fall line, 44 mi (71 km) west of Williamsburg, 66 mi (106 km) east of Charlottesville, 91 mi (146 km) east of Lynchburg and 92 mi (148 km) south of Washington, D.C. Surrounded by Henrico and Chesterfield counties, Richmond is at the intersection of I-95 and I-64 and encircled by I-295, SR 150 and SR 288. Major suburbs include Midlothian to the southwest, Chesterfield to the south, Varina to the southeast, Sandston to the east, Glen Allen to the north and west, Short Pump to the west, and Mechanicsville to the northeast.

Richmond was an important village in the Powhatan Confederacy and was briefly settled by English colonists from Jamestown from 1609 to 1611. Founded in 1737, it replaced Williamsburg as the capital of the Colony and Dominion of Virginia in 1780. During the Revolutionary War period, several notable events occurred in the city, including Patrick Henry's "Give me liberty or give me death!" speech in 1775 at St. John's Church and the passage of the Virginia Statute for Religious Freedom written by Thomas Jefferson. During the American Civil War, Richmond was the capital of the Confederate States of America.

Richmond by the numbers

Population 227,595 · Median age 34.5 yrs · Census ACS 2023

Median household income

Richmond's median household income of $62,671 compares to $90,974 statewide and $78,538 nationally, per Census ACS 2023 5-year estimates.

Median age (years)

The median age in Richmond is 34.5 yrs, compared to 38.8 yrs for Virginia and 38.7 yrs nationally.

Gender split

Richmond is 47.5% male and 52.5% female, per Census ACS estimates.

Population trend — Richmond

Richmond's population grew 0.4% from 2019 to 2023, per Census ACS 5-year estimates.

Source: U.S. Census Bureau, American Community Survey 2023 5-year estimates.

Virginia government

Governor

Abigail Spanberger

Democrat

U.S. Senators

House Representatives (11)

Source: Congress.gov, Wikidata. Federal legislators represent Virginia statewide or by congressional district.

Richmond economy

Richmond's strategic location on the James River at the rocky fall line separating Virginia's Piedmont and Tidewater regions made it a natural development point for commerce. For centuries and three modes of transportation—boats, with the Great Turning Basin; railroad, with one of only two rail line triple crossings in North America; and cars, with two intersecting major interstates—the downtown has always been a natural hub. Law and finance have long been driving forces in the economy. Richmond is home to the Virginia Supreme Court; one of the four courts in the United States District Court for the Eastern District of Virginia; one of the four divisions of the United States Bankruptcy Court for the Eastern District of Virginia; and the United States Court of Appeals for the Fourth Circuit, one of thirteen such appeals courts. Richmond is headquarters to some large law firms: Hunton Andrews Kurth, McGuireWoods, and Williams Mullen. Troutman Sanders, which merged with Richmond-based Mays & Valentine LLP in 2001, also has a significant presence. The city also is home to the Federal Reserve Bank of Richmond, one of twelve such banks, with many large financial and other companies having significant offices, like Genworth Financial, Capital One, Philip Morris USA, and several banks and brokerages.

Source: Wikipedia article on Richmond under CC BY-SA 4.0.

Climate in Richmond

Monthly climate — Richmond

Source: NOAA Climate Data Online, 1991–2020 climate normals, station GHCND:USC00440188.

Average annual rainfall: 0.4 inches across 0 days per year.

Richmond real estate news

Recent news about the Richmond housing market. Source: Google News.

Richmond real estate — frequently asked questions

What is the median home price in Richmond?
The median home sale price in Richmond, VA is $389,000, based on the most recent available sales data.
How long do homes stay on the market in Richmond?
Homes in Richmond sell in a median of 37 days.
What is the cost of living like in Richmond?
Richmond has a median household income of $62,671, per U.S. Census Bureau ACS estimates.
Who lives in Richmond?
Richmond has a population of 227,595 with a median age of 34.5 years, per U.S. Census Bureau ACS estimates.
How do I sell my home in Richmond?
Start with a free, no-obligation home value estimate. Enter your address above and we'll connect you with a licensed local real-estate professional familiar with the Richmond market within 24 hours.

How it works

  1. 1

    Enter your address

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  2. 2

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    Three data-driven estimates — low, mid, and high — with the market context behind them.

  3. 3

    Connect with an expert

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ForSaleAmerica.com is an online marketplace and is not a real estate brokerage in Virginia. Property valuations shown are automated estimates based on public data and are not appraisals, comparative market analyses, or guarantees of sale price. We connect homeowners with top local agents and partners — we do not represent buyers or sellers.