Matrix Multifamily Richmond Report-April 2025 May 01, 2025

Richmond Stays Ahead

Richmond’s advertised asking rents remained flat on a T3 basis through February—on par with the nation—but its other fundamentals signaled a solid start. Last year was the second best for supply growth since 2017, with 6,755 units added, while occupancy ticked up 20 bps YoY, to 95.0 percent.