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Get a quick view of rental returns, appreciation trends, and local growth data to evaluate real estate market strength and investment potential.
Genie Score
Monthly Cash Flow
Annual Total Gain
Estimated Rent
$1,609
$3,236
Appreciation
7.21%
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Job Growth
0.01%
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Population
227,595
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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.