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Richmond, VA Investment Data and Rental Metrics
Investment Data & Rental Metrics
LTR & STR financial performance, market growth indicators, and school ratings.
LTR Financial Performance
Median Price
LTR Rent
$1,609
Monthly Cash Flow
-$465
Principal + Equity
$2,442
Annual Total Gain
$23,718
Cash on Cash
-6.2%
Net ROI %
STR Financial Performance
Median Price
Avg. Daily Rate
$282
Occupancy Rate
52.05%
Monthly Revenue
$3,236
Monthly Cash Flow
$676
Principal + Equity
$2,442
Annual Total Gain
$37,419
Cash on Cash %
9.01%
Net ROI %
Market Health & Growth
Median Income
$62,671
Population
227,595
LTR Renter %
56.55%
Forecast (1 yr)
2.04%
Appreciation (1 yr)
0.01%
Appreciation (5 yr)
40.18%
Appreciation (10 yr)
100.58%
Job Growth
0.73%
LTR Rentability
Low
STR Demand
84
STR Rentals
151
Top Public Schools
AOpen High School
ARichmond Community High School
B
B
B
Market Grades and Information
Best Places to Live Ranking
Public school quality, cost of living, commute, and lifestyle ratings.
B
Overall
Top-level market grade
Most Diverse Cities in America
#69out of 229 markets
Best Cities to Retire in America
#105out of 229 markets
Best Cities for Young Professionals in America
#56out of 229 markets
C
Public School
D
Crime And Safety
D
Housing
A-
Nightlife
B-
Good For Families
Diversity
Jobs
Weather
Cost Of Living
Health And Fitness
Outdoor Activities
Commute
Short-Term Rental (STR) Regulations
Local rules and guidelines for operating short-term rentals in Richmond, VA.
In Richmond, VA, Short Term Rental (STR) regulations are governed by the city's Zoning Ordinance and the Code of Virginia. Here are some key points that an investor should be aware of before investing in purchasing a property for Short Term Rental in Richmond:
1. Zoning Restrictions: Richmond has specific zoning regulations that dictate where Short Term Rentals are allowed to operate. Investors should check the zoning of the property they are interested in to ensure that Short Term Rentals are permitted in that area.
2. Permitting Requirements: In Richmond, property owners must obtain a Short Term Rental permit from the city before operating a Short Term Rental. The permit process includes submitting an application, paying a fee, and meeting certain requirements such as having insurance coverage and complying with building and safety codes.
3. Occupancy Limits: Richmond has occupancy limits for Short Term Rentals, which restrict the number of guests that can stay in a property at any given time. Investors should be aware of these limits and ensure that they are adhered to.
4. Taxation: Short Term Rentals in Richmond are subject to lodging taxes, which must be collected and remitted to the city. Investors should be aware of their tax obligations and ensure that they are in compliance with the city's tax regulations.
5. Noise and Nuisance Regulations: Richmond has noise and nuisance regulations that apply to Short Term Rentals. Investors should ensure that their guests are aware of these regulations and that they are followed to avoid any potential issues with neighbors or the city.
Overall, investors interested in purchasing a property for Short Term Rental in Richmond should thoroughly research and understand the city's regulations and requirements to ensure a successful and compliant investment.
Market Trends Over Time
Explore 25 years of market data for Richmond, VA, including median property prices, long-term rental rates, and days on market — identify growth potential and gauge market stability.
Median Price
Median Rent
Days on Market
Nearest Markets
Explore nearby investment markets close to Richmond, VA.
The LTR Genie Score of Richmond, VA is 69, indicating a moderate level of rentability for long-term rental properties. This is likely due to the low LTR Rentability and Rent Growth Rate, which may make it challenging for investors to generate significant rental income in the long term. On the other hand, the STR Genie Score of 84 suggests a high level of rentability for short-term rental properties, supported by a strong Net ROI and high occupancy rate.
When comparing the LTR and STR Genie Scores, it is clear that the short-term rental market in Richmond, VA is more favorable for investors at this time. With a higher Net ROI and occupancy rate, investors may have a better chance of maximizing their returns through short-term rentals. Additionally, the 1-Year Price Appreciation Forecast of 2.04% indicates potential for property value growth in the near future.
Overall, Richmond, VA appears to be a more attractive market for short-term rental investment rather than long-term rental investment. Investors may want to consider focusing on short-term rental properties to take advantage of the higher rentability and potential for strong returns in this market.
Richmond, VA is known for its rich history, vibrant arts scene, and diverse economy. The city is home to several universities, including Virginia Commonwealth University, which can attract a steady stream of students and young professionals looking for rental properties. Additionally, Richmond's proximity to major cities like Washington D.C. and Virginia Beach makes it a desirable location for both residents and tourists.
LTR Genie Score 93
$175,000
🛏 3 Beds🛁 3.0000 Baths🏙 1,712 sqft.🏠 SINGLE FAMILY
10639 Looking Glass Rd, North Chesterfield, VA 23235
