net new residents per year
Cost of Living housing Index
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House and Apartment Pricing
The average sales price of new 4-bedroom/2-bathroom homes in the Richmond Metro Area was $339,453 in 2021, according to the C2ER Cost of Living Index. Average monthly apartment rental was $1,234 for a two-bedroom apartment, according to the C2ER Cost of Living Index.
Cost of living in the Richmond MSA is 96.1, with housing at 90.5 index, both well below the national average of 100.0. The average new home price is nearly 15 percent below the national average, with 2-bedroom/1.5-bathroom apartment rent staying competitive with the national average.
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