Tags: 2024 Richmond, VA MSA
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Return to the state page to see where Virginia ranks nationally and to view information on other counties. Click on the map to view a different county.
The top two largest cities in Richmond city are Richmond and University Of Richmond. Fair Market Rents on this page may apply depending on whether the county uses SAFMRs or county level FMRs. Cities in multiple SAFMR areas will have different SAFMRS based on ZIP code.
What type of FMR does Richmond city use?
Small Area Fair Market Rents were created by the HUD for this county/Metro Fmr Area however Richmond city is not required to use Small Area FMRs by the HUD. It is at the discretion of the local Housing Authority to determine if SAFMRs or 40th percentile FMRs are used.
To learn more about the criteria the HUD uses to determine if a Metro FMR Area requires Small Area Fair Market Rents click here.
How does Richmond city compare?
Richmond city ($1,532) has a 21% higher FMR for 2-Bedroom housing than the average of Virginia ($1,266) and therefore a higher gross rent.
Richmond city is rank 20th out of 133 counties. This means the FMRs, or in other words, the gross rent is higher than 113 other counties. Richmond city is the 20th most expensive county in terms of FMRs.
Rent Tables Richmond city, VA
Fair Market Rent (40th Percentile)
studio
1-Bedroom
2-Bedroom
3-Bedroom
4-Bedroom
Median Rent (50th Percentile)
studio
1-Bedroom
2-Bedroom
3-Bedroom
4-Bedroom
Small Market Areas (By Zip Code)
The 90% and 110% SAFMRs represent the minimum and maximum payment standards that can be set by the local Public Housing Authority under regular conditions. The payment standard is the actual value used in Section 8. For more on payment standards click here.
FMRs and SAFMRs are set by the HUD. The local PHA takes these FMR/SAFMR values and may decide to use any value that is within +-10% of the FMR/SAFMR as the payment standard for the areas under their jurisdiction.
For a more in-depth explaination return to the overview page.
| ZipCode | Studio | 1-Bed | 2-Bed | 3-Bed | 4-Bed |
|---|---|---|---|---|---|
| 23173 | $1,530 | $1,570 | $1,760 | $2,250 | $2,750 |
| 23218 | $1,270 | $1,300 | $1,460 | $1,870 | $2,280 |
| 23219 | $1,340 | $1,380 | $1,550 | $1,980 | $2,420 |
| 23220 | $1,560 | $1,600 | $1,800 | $2,300 | $2,810 |
| 23221 | $1,540 | $1,590 | $1,780 | $2,280 | $2,780 |
| 23232 | $1,270 | $1,300 | $1,460 | $1,870 | $2,280 |
| 23241 | $1,270 | $1,300 | $1,460 | $1,870 | $2,280 |
| 23260 | $1,270 | $1,300 | $1,460 | $1,870 | $2,280 |
| 23261 | $1,270 | $1,300 | $1,460 | $1,870 | $2,280 |
| 23284 | $1,270 | $1,300 | $1,460 | $1,870 | $2,280 |
| 23286 | $1,270 | $1,300 | $1,460 | $1,870 | $2,280 |
| 23293 | $1,270 | $1,300 | $1,460 | $1,870 | $2,280 |
| 23298 | $1,270 | $1,300 | $1,460 | $1,870 | $2,280 |
| ZipCode | Studio | 1-Bed | 2-Bed | 3-Bed | 4-Bed |
|---|---|---|---|---|---|
| 23173 | $1,377 | $1,413 | $1,584 | $2,025 | $2,475 |
| 23218 | $1,143 | $1,170 | $1,314 | $1,683 | $2,052 |
| 23219 | $1,206 | $1,242 | $1,395 | $1,782 | $2,178 |
| 23220 | $1,404 | $1,440 | $1,620 | $2,070 | $2,529 |
| 23221 | $1,386 | $1,431 | $1,602 | $2,052 | $2,502 |
| 23232 | $1,143 | $1,170 | $1,314 | $1,683 | $2,052 |
| 23241 | $1,143 | $1,170 | $1,314 | $1,683 | $2,052 |
| 23260 | $1,143 | $1,170 | $1,314 | $1,683 | $2,052 |
| 23261 | $1,143 | $1,170 | $1,314 | $1,683 | $2,052 |
| 23284 | $1,143 | $1,170 | $1,314 | $1,683 | $2,052 |
| 23286 | $1,143 | $1,170 | $1,314 | $1,683 | $2,052 |
| 23293 | $1,143 | $1,170 | $1,314 | $1,683 | $2,052 |
| 23298 | $1,143 | $1,170 | $1,314 | $1,683 | $2,052 |
| ZipCode | Studio | 1-Bed | 2-Bed | 3-Bed | 4-Bed |
|---|---|---|---|---|---|
| 23173 | $1,683 | $1,727 | $1,936 | $2,475 | $3,025 |
| 23218 | $1,397 | $1,430 | $1,606 | $2,057 | $2,508 |
| 23219 | $1,474 | $1,518 | $1,705 | $2,178 | $2,662 |
| 23220 | $1,716 | $1,760 | $1,980 | $2,530 | $3,091 |
| 23221 | $1,694 | $1,749 | $1,958 | $2,508 | $3,058 |
| 23232 | $1,397 | $1,430 | $1,606 | $2,057 | $2,508 |
| 23241 | $1,397 | $1,430 | $1,606 | $2,057 | $2,508 |
| 23260 | $1,397 | $1,430 | $1,606 | $2,057 | $2,508 |
| 23261 | $1,397 | $1,430 | $1,606 | $2,057 | $2,508 |
| 23284 | $1,397 | $1,430 | $1,606 | $2,057 | $2,508 |
| 23286 | $1,397 | $1,430 | $1,606 | $2,057 | $2,508 |
| 23293 | $1,397 | $1,430 | $1,606 | $2,057 | $2,508 |
| 23298 | $1,397 | $1,430 | $1,606 | $2,057 | $2,508 |
Related Areas
Fair Market Rents on this page apply to the following cities in Richmond city, Virginia: Richmond and University Of Richmond.
These Fair Market Rents also apply to the following ZIP codes in Richmond city, Virginia: 23220, 23221, 23219, 23261, 23260, 23218, 23173, 23232, 23241, 23249, 23269, 23284, 23286, 23293, and 23298.
Richmond city, VA is considered part of the following metro FMR area: RICHMOND, VA MSA.
Other counties in the same metro FMR area are: Amelia County, VA, Charles City County, VA, Chesterfield County, VA, Dinwiddie County, VA, Goochland County, VA, Hanover County, VA, Henrico County, VA, King William County, VA, New Kent County, VA, Powhatan County, VA, Prince George County, VA, Sussex County, VA, Colonial Heights city, VA, Hopewell city, VA, and Petersburg city, VA.
More on Richmond city, VA
- Loan Limits to view maximum loan amounts in Richmond city, VA
- Property Taxes to find local Property Taxes
- Income Limits to learn more about income assistance in your area
- Housing Authorites to find your local Housing Authorities
Citation
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Data Source
Fair Market Rents are published by the Department of Housing And Urban Development.