Richmond, VA
Population 227,595 · Virginia
About Richmond, VA
Richmond is a major city in Virginia with a population of 227,595 residents. The median household income is $62,671 per year, which is near the national average. The median age in Richmond is 34.5 years.
Housing in Richmond has a median home value of $328,100 and median monthly rent of $1,314. Of the 112,848 total housing units, renting is more common than owning, with 44,386 owner-occupied and 57,759 renter-occupied units.
The unemployment rate in Richmond is 6.0% and the poverty rate is 18.8%. 44.1% of residents hold a bachelor's degree or higher. The average commute time is 22.1 minutes.
How Richmond Ranks in Virginia
Cost of Living in Richmond, VA
Compared to national averages, Richmond has a median household income of $62,671 (17% below the national median of $75,149). Home values average $328,100, which is 34% above the national median. Monthly rent at $1,314 is 13% above the US average of $1,163. Within Virginia, Richmond's income is 29% below the state average of $87,957, and home values are 0% above the state median of $327,514.
Why Live in Richmond, VA?
Richmond offers a well-educated community where 44.1% of residents hold a bachelor’s degree or higher, and short commute times averaging just 22.1 minutes.
Potential considerations include median household income ($62,671) that falls below the national average. However, as a major city, Richmond provides access to a wide range of amenities and services.
Richmond has a population of 227,595 with a median age of 34.5 years. Compare Richmond with other cities to see how it stacks up, or explore all cities in Virginia.
Similar Cities Near Richmond
Cities in Virginia with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Norfolk | 235,037 | $64,017 | $271,900 | Compare |
| Arlington | 235,463 | $140,160 | $864,800 | Compare |
| Chesapeake | 251,153 | $94,189 | $359,100 | Compare |
| Newport News | 184,774 | $66,718 | $243,300 | Compare |
| Alexandria | 156,788 | $113,638 | $696,800 | Compare |
| Hampton | 137,334 | $67,758 | $234,100 | Compare |
| Roanoke | 98,677 | $52,671 | $180,500 | Compare |
| Portsmouth | 97,299 | $58,972 | $229,400 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Virginia
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Richmond
What is the population of Richmond, VA?
The population of Richmond, VA is 227,595 according to the latest Census data.
What is the median household income in Richmond?
The median household income in Richmond, VA is $62,671 per year.
What is the median home value in Richmond?
The median home value in Richmond, VA is $328,100.
What is the average rent in Richmond?
The median monthly rent in Richmond, VA is $1,314.
What is the unemployment rate in Richmond?
The unemployment rate in Richmond, VA is 6.0%.