Comprehensive data covering Chesterfield, Henrico, Goochland, and Powhatan counties. 9,441 verified sales from the past 36 months.
9,441
36-month period
$587,000
All areas combined
$672,300
$196/sqft avg
3,427
2,939 median
Key structural drivers behind Richmond's real estate market
The Richmond metro faces a structural supply deficit. Demand projections call for 42,101 new lots through 2029, while current entitled inventory stands at just 7,982 lots.
Only 19% of projected demand is currently covered by available inventory.
The Richmond metro has added 52,000+ new residents since 2020, driven by remote work migration, corporate relocations, and quality of life advantages.
52K+
New Residents
Since 2020
1.3M+
Metro Population
MSA total
Consistent net in-migration from the Northeast corridor and coastal Virginia markets continues to fuel demand.
Richmond's median home value of $382K - $404K sits approximately 15% below the national median, making it one of the most compelling value markets on the East Coast.
Significant upside potential as affordability draws buyers priced out of D.C., Northern Virginia, and Charlotte markets.
Richmond boasts a 2.7% unemployment rate, well below the national average, anchored by a diverse economic base spanning finance, healthcare, government, and a rapidly expanding tech sector.
2.7%
Unemployment
7
Fortune 500 HQs
Top 20
Tech Growth
Major employers include Capital One, Altria, CarMax, Markel, and Dominion Energy. The tech sector is growing with companies like CoStar and numerous startups choosing Richmond.