{"id":10300,"date":"2025-11-06T09:11:00","date_gmt":"2025-11-06T09:11:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=10300"},"modified":"2026-05-06T09:19:06","modified_gmt":"2026-05-06T09:19:06","slug":"richmond-multifamily-market-report-october-2025","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/richmond-multifamily-market-report-october-2025\/","title":{"rendered":"Richmond Multifamily Market Report \u2013 October 2025"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/richmond-multifamily-market-report\/\">Richmond Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Rents Move Forward, Deliveries Soften<\/h2>\n<p>Richmond\u2019s multifamily market remained on a relative steady track amid wider economic uncertainty, according to the latest Yardi Matrix Richmond multifamily market report. Average advertised asking rent growth softened to 0.2%, on a trailing three-month basis through August, to an average of $1,592, while the U.S. figure was up 0.1%, to $1,755. Year-over-year, rents in the metro were up 2.2%, placing the metro relatively high nationally, with the U.S. average at 0.7%. Overall occupancy in stabilized assets remained above the national figure, at 95.2% as of July, showing a slight increase despite last year\u2019s strong supply expansion, as noted in the most recent <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>U.S. multifamily market report<\/strong><\/a>.\u00a0<\/p>\n<p><iframe id=\"datawrapper-chart-rYYUi\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Richmond vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/rYYUi\/1\/\" height=\"326\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">window.addEventListener(\"message\",function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}});<\/script>\u00a0<\/p>\n<p>The employment market softened, with gains at 0.8% as of June. This was on par with the national average. Meanwhile, unemployment clocked in at 3.7% in July, 50 basis points below the U.S. rate, according to data from the Bureau of Labor Statistics. In the 12 months ending in July, the metro added 11,700 net positions, with education and health services leading growth (up 9,800 jobs). Several large projects promise to bring more employment to the area. Among them is The LEGO Group\u2019s $1 billion precision production facility, expected to begin operations in 2027 and add roughly 1,700 jobs over the next decade.<\/p>\n<p><iframe id=\"datawrapper-chart-GObDE\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Richmond Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/GObDE\/1\/\" height=\"417\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">window.addEventListener(\"message\",function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}});<\/script>\u00a0<\/p>\n<p>Supply dynamics also cooled off a bit. Still, Richmond developers had 6,627 apartments underway as of August and construction starts picked up steam in 2025, with new developments nearly doubling.<\/p>\n<p>Read the full Yardi Matrix Richmond Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/7943-MatrixMultifamilyRichmondReport-October2025\" rel=\"\"><strong>October 2025<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Rents Move Forward, Deliveries Soften Richmond\u2019s multifamily market remained on a relative steady track amid wider economic uncertainty, according to the latest Yardi Matrix Richmond multifamily market report. Average advertised asking rent growth softened to 0.2%, on a trailing three-month basis through August, to an average of $1,592, while the U.S. figure was up 0.1%, [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":9628,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[513,67],"class_list":["post-10300","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2025","tag-richmond"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Richmond Multifamily Market Report \u2013 October 2025 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Advertised asking rents in Richmond were up 0.2 percent on a T3 basis through August, to an average of $1,592, Yardi Matrix reports.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/richmond-multifamily-market-report-october-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Richmond Multifamily Market Report \u2013 October 2025\" \/>\n<meta property=\"og:description\" content=\"Advertised asking rents in Richmond were up 0.2 percent on a T3 basis through August, to an average of $1,592, Yardi Matrix reports.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/richmond-multifamily-market-report-october-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2025-11-06T09:11:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-05-06T09:19:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2025\/05\/Richmond-iStock-2224973145-MHN.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adina Rogoz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tudor Scolca-Seusan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Richmond Multifamily Market Report \u2013 October 2025 - 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