Richmond County, Virginia Housing Market Prices
Richmond County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 45% below the Virginia median Cheaper than 72% of counties in Virginia$141,447
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Median rent 32% below the Virginia median$1,067
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Richmond County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $141,447 | $256,082 | $248,835 |
| Price Trend (Annual %) | 71.1% | 3.5% | 7.5% |
| Median Gross Rent | $1,067 | $1,579 | $1,407 |
| Rent Trend (Annual %) | 3.6% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Richmond County is about 45% lower than in Virginia. Rent is about 32% lower than the Virginia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Richmond County, up about 71.1% and 3.6% a year respectively. Home prices are changing faster.
Median rent in Richmond County rose about 38.0% between 2015 and 2024, from $773 to $1,067. Over the same span, rent in Virginia rose about 41.5%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Richmond County.
Buying the median-priced home in Richmond County costs roughly 11.1 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Richmond County. The price-to-rent ratio in Virginia is about 13.5.
| Metric | Richmond County | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $141,447 | $256,082 | $248,835 |
| Median Household Income | $69,824 | $93,527 | $80,455 |
| Price-to-Income Ratio | 2.0 | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Richmond County fell about 32.3%, while median household income rose about 55.6% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Richmond County | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.7% | 61.5% | 58.5% |
| Rental Rate | 20.3% | 29.8% | 31.2% |
| Vacancy Rate | 20.0% | 8.7% | 10.2% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Richmond County has a homeownership rate of 59.7%, lower than the Virginia average of 61.5%. Its housing vacancy rate is 20.0%, compared with 8.7% in Virginia.
Housing Stock
| Metric | Richmond County | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.35 people | 2.52 people | 2.53 people |
| Median Structure Built Year | 1980 | 1982 | 1978 |
| Median Number of Rooms | 5.9 | 6.0 | 5.5 |
The typical housing unit in Richmond County was built around 1980. On average, 2.4 people live in a home with about 5.9 rooms, staying for about 18.0 years on average.
Richmond County, VA Housing Compared With Nearby Counties
Richmond County, VA is the smallest of the 5 counties compared here, 9,095 residents against a local median of 15,506. Richmond County, VA's median home price, at $141,447, runs 53% below the $302,935 typical of the counties around it.
The counties themselves spread $408,125 on median home price, so Richmond County, VA sits at one end of an already wide local range rather than apart from it. Richmond County, VA has the 4th highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Richmond County, VA | 9,095 | $141,447 #4/5 | $1,067 #2/5 | 74.7% #3/5 |
| Westmoreland County, VA | 18,825 | $537,500 | $1,018 | 80.1% |
| Essex County, VA | 10,620 | $255,014 | $972 | 71.7% |
| St. Mary's County, MD | 115,126 | $350,857 | $1,747 | 73.2% |
| Northumberland County, VA | 12,188 | $129,375 | $1,038 | 86.1% |
Frequently Asked Questions
Common questions about the housing market in Richmond County, Virginia.
What is the median home price in Richmond County, Virginia?
The median home price in Richmond County, Virginia is $141,447, lower than the Virginia average of $256,082.
What is the average home price in Richmond County, Virginia?
The typical home price in Richmond County, Virginia, reported as the median sale price, is $141,447. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Richmond County, Virginia?
The median gross rent in Richmond County, Virginia is $1,067 per month, lower than the Virginia average of $1,579.
What was the median gross rent in Richmond County in 2020?
In 2020, the median gross rent in Richmond County, Virginia was $842 per month.
What is the price-to-rent ratio in Richmond County, Virginia?
The price-to-rent ratio in Richmond County, Virginia is about 11.1, meaning it would take roughly 11.1 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Richmond County.
Are home prices or rent rising faster in Richmond County, Virginia?
Both home prices and rent are rising in Richmond County, up about 71.1% and 3.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Richmond County, Virginia?
59.7% of households in Richmond County, Virginia own their home, lower than the Virginia average of 61.5%.
What is the vacancy rate in Richmond County, Virginia?
The housing vacancy rate in Richmond County, Virginia is 20.0%, higher than the Virginia average of 8.7%.
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