What's a good cap rate in Richmond?

In Richmond, cap rates typically run around 6.0% (Virginia state median). A deal above that line is outperforming the local market; below it, you're paying up for appreciation or stability. TrueCap shows where any specific Richmond deal lands versus this benchmark.

What's the average rent for a rental in Richmond?

A typical rental in Richmond runs about $1,655–$2,072/mo (HUD Fair Market Rent, 2–3BR). TrueCap auto-fills HUD Fair Market Rent for the exact address you enter.

What is the property tax rate in Virginia?

Virginia's effective property tax rate is about 0.82% of value per year — the figure TrueCap applies by default for Richmond deals. You can override it with the exact local rate.

Richmond, VA

Richmond rental property analysis

Richmond offers East Coast stability at mid-market prices — government, university, and healthcare employment keep demand steady through cycles.

Richmond market snapshot

Balanced market

Mid-range cap rates — cash flow and appreciation are both realistically on the table.

Typical cap rate

6.0%

Virginia state median

Typical rent

$1,655–$2,072/mo

HUD FMR · 2–3BR · 2026

Typical price

$250,000–$360,000

est., all-in

Property tax

0.82%

Virginia effective

Rent is HUD Fair Market Rent where available, otherwise a market estimate; price is a market estimate. Cap-rate and tax are the defaults TrueCap applies — enter a specific address for exact, auto-filled numbers.

Sources & methodology. These are screening defaults and market estimates — not an appraisal, and not financial, tax, or legal advice. Verify rents, taxes, insurance, and local landlord/tenant law against the county assessor and your state's landlord-tenant statute before relying on them.

Data: HUD Fair Market Rent · FRED 30-yr mortgage rate · Tax Foundation (property tax) · Updated June 2026

Metro-level estimates — precision is lower at the neighborhood and parcel level; pull a specific address for exact, auto-filled figures. Reviewed by the TrueCap team. See our full methodology.

Is Richmond a good place to buy rentals?

A balanced market: decent cash flow with real appreciation and low volatility. A good second market for investors diversifying out of pure cash-flow metros.

See the full Virginiainvesting guide — taxes, landlord law & top metros →

Neighborhoods to look at in Richmond

Southside

Affordable SFRs, value-add, solid rent ratios.

Church Hill

Historic, gentrifying, appreciation upside.

Henrico County

Suburban, owner-occupant-grade, low vacancy.

Neighborhood notes are starting points, not recommendations — always underwrite the specific property.

Run a Richmond deal in 60 seconds

Paste a Richmond address into TrueCap and get cap rate, cash-on-cash, DSCR, cash flow, and a 10-year projection — auto-filled with Virginia tax and HUD rent so you start from the right assumptions.

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