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RentData.org Logo Richmond Fair Market Rent FY 2008 Richmond, VA HUD Metro FMR Area Rental Data

Fair Market Rent Prices in Richmond, VA :
$719 $779 $870 $1,161 $1,386
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Expensive 50th Percentile Metro Area

Fair Market Rent prices in Richmond are very high compared to the national average. This FMR area is more expensive than 94% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Richmond is $870 per month.

The previous year, rent for a two-bedroom home was $788 per month. This is a 10.41% increase year-over-year.

This FMR rate applies to Mannboro, VA, Ford, VA, Jetersville, VA, Rice, VA, Church Road, VA, Amelia Court House, VA and other cities within the region. The Metro Code or CBSA code for this region is METRO40060M40060.

Additionally, This Fair Market Rent (FMR) area Richmond, VA HUD Metro FMR Area spans one county or city in Virginia which is listed in the table below. Estimated population of Richmond, VA HUD Metro FMR Area FMR area is 11,400 people based on latest Census data.

Compared to the rest of Virginia, the Richmond FMR area is more expensive than 96% of the state.

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What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Richmond. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Richmond

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 719
1-BR 1-Bedroom $ 779
2-BR 2-Bedroom $ 870
3-BR 3-Bedroom $ 1161
4-BR 4-Bedroom $ 1386
Change Year:
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

There is just one county (listed below) within the Richmond, VA HUD Metro FMR Area FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers one metro area: Richmond - Petersburg.

County / Region Est. Population
Richmond, VA Metro 11,400
Zip Codes in Richmond, VA HUD Metro FMR Area

There are 6 unique zip codes in this Fair Market Rent (FMR) area:

23002, 23083, 23105, 23833, 23850 and 23966

Lookup Fair Market Rent by Zip Code

What's Next?

Here are some additional resources you may also be interested in:

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