The Richmond metro is home to 1,327,321 people (up 3.6% over five years), with a median household income of $84,405. Typical rent of $1,706/month works out to 24.3% of the median household income — comfortably below the 30% affordability threshold (Census ACS + Zillow, September 2026).
The share of Richmond's workforce by sector — the base of tenant demand:
| Sector | % of workforce |
|---|---|
| Education & health care | 23.1% |
| Professional & management | 12.7% |
| Retail trade | 10.7% |
| Finance, insurance & real estate | 9.4% |
| Arts, food & hospitality | 7.6% |
Education & health care is the metro's largest employment base — sectors like education and health care are recession-resilient anchors for rental demand.
Rents at 24.3% of median income leave room for rent growth without pricing out the median tenant. Market pricing, yields and the Star Score live on the Richmond market page; run a deal in the calculator.
At the 30%-of-income affordability rule, typical rent of $1,706/month suggests a household income around $68,000/year. The metro's median household income is $84,405.
By workforce share: Education & health care (23.1%), Professional & management (12.7%), Retail trade (10.7%) (Census ACS 5-year).