Cost of Living in Richmond County, Virginia

$1,011/mo
Median Monthly Rent
$214,200
Median Home Value
11% below state averageUnaffordable

At a Glance

Median Monthly Rent
$1,011/mo
11% below state average
Median Home Value
$214,200
24% below national
Rent-to-Income Ratio
21.0%
% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating
Unaffordable
Rent over 50% of income

How Richmond County Compares

Median monthly rent comparison

Richmond County$1,011/mo
Virginia Average$1,140/mo
National Median$1,163/mo

Detailed Housing Stats

$1,011/mo
Median Gross Rent
$214,200
Median Home Value
$858/mo
Monthly Owner Cost
21.0%
Rent-to-Income Ratio

Data Story

About Cost of Living in Richmond County, Virginia

Richmond County offers solid affordability

With a rent-to-income ratio of 18.9%, Richmond County sits just above Virginia's state average of 18.6% and comfortably within the national comfort zone for housing costs. The median household income of $64,184 is close to the state median, making this an accessible market for many households.

Middle of the pack in Virginia affordability

Richmond County's 18.9% rent-to-income ratio places it near the state average of 18.6%, marking it as a stable, moderately affordable option compared to pricier urban areas. Median rent of $1,011 runs slightly below the state average of $1,140, offering modest savings for renters.

Cheaper rents than Richmond city neighbors

Richmond County's median rent of $1,011 undercuts Richmond city ($1,314) by $303 monthly while matching the affordability of Rockingham County ($1,125). Home values of $214,200 are significantly more modest than the city's $328,100, appealing to buyers seeking rural charm with reasonable pricing.

Balanced housing and income picture

Renters spend $1,011 monthly on housing while homeowners face $858 in monthly costs from a median income of $64,184. This relatively balanced distribution means residents keep more income for other necessities and discretionary spending compared to pricier Virginia markets.

A solid choice for rural-minded relocators

Richmond County's near-average affordability combined with lower home values makes it attractive for families prioritizing space and rural living over urban amenities. The modest rent-to-income ratio of 18.9% suggests sustainable housing costs over the long term.

Affordability Calculator

See how your income compares to housing costs in Richmond County

$

Rent Burden

18.9%

of gross income

Max Housing (28% Rule)

$1,498

per month

Owner Cost Burden

16.0%

of gross income

The median home in Richmond County may be a stretch

Median home value is $214,200. Estimated monthly cost: $1,710 vs. your max of $1,498.

Rent Affordability Guide

Your rent-to-income ratio18.9%
Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Richmond County, Virginia?
Richmond County, Virginia has a median monthly rent of $1,011/mo and a median home value of $214,200. The affordability rating is Unaffordable, with rent making up approximately 21.0% of median household income.
What is the median rent in Richmond County?
The median gross rent in Richmond County is $1,011/mo. This is 11% below state average for Virginia.
Is Richmond County affordable?
Richmond County is rated Unaffordable based on rent-to-income ratio of 21.0%. Spending over 50% of income on rent is generally considered unaffordable.
How does Richmond County's rent compare to the state average?
Richmond County's median rent of $1,011/mo is 11% below state average of $1,140/mo for Virginia.
What is the median home value in Richmond County?
The median home value in Richmond County, Virginia is $214,200. This is 24% below the national median home value of $281,900.
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Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.