Matrix Multifamily Richmond Report-October 2025 October 29, 2025

Richmond Rents Stay Positive

Advertised asking rents in Richmond were up 0.2 percent on a T3 basis through August, to an average of $1,592, which was just 10 bps ahead of the nation. Supply growth slowed to a level closer to historic averages, with 4,346 units coming online in 2025’s first eight months.