{"id":11037,"date":"2026-05-01T11:00:00","date_gmt":"2026-05-01T11:00:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=11037"},"modified":"2026-11-03T11:18:53","modified_gmt":"2026-11-03T11:18:53","slug":"richmond-multifamily-market-report-april-2026","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/richmond-multifamily-market-report-april-2026\/","title":{"rendered":"Richmond Multifamily Market Report \u2013 April 2026"},"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>Supply Steady, Asking Rents Rise<\/h2>\n<p>Richmond\u2019s multifamily market started 2026 on solid footing, building on last year\u2019s momentum, according to the latest Yardi Matrix Richmond multifamily market report. The average advertised asking rent climbed 0.4%, on a trailing three-month basis through February, to $1,619, while the national average ticked down 0.1%, as noted in the most recent <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>U.S. multifamily market report<\/strong><\/a>. Richmond recorded one of the country\u2019s highest year-over-year rent improvements, at 3.6% through February. Yet, following two years of strong supply growth, the metro\u2019s occupancy rate in stabilized assets slid 30 basis points over 12 months, to 94.8%.<\/p>\n<p><iframe id=\"datawrapper-chart-VuECL\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Richmond vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/VuECL\/1\/\" height=\"327\" 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><\/p>\n<p>The metro\u2019s employment market slowed down, with gains at 0.2% through December, 40 basis points behind the U.S. average. Unemployment was 3.3% at the end of 2025, settling 110 basis points below the U.S. average, according to preliminary data from the Bureau of Labor Statistics. Richmond lost 9,000 net jobs in 2025, as only four sectors recorded growth. Education and health services was among the sectors that added jobs (5,000), while the biggest losses were in the government sector (-6,300 jobs). Several major projects hit milestones in 2025, including the $2.4 billion Diamond District and Google\u2019s 307-acre planned data center campus.<\/p>\n<p><iframe id=\"datawrapper-chart-Ie1ej\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Richmond Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/Ie1ej\/1\/\" height=\"416\" 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><\/p>\n<p>Richmond developers had 8,844 units under construction as of February, following the addition of 6,089 apartments last year. Meanwhile, investors traded $1.6 billion in multifamily assets in 2025, followed by $160 million during the first two months of this year.<\/p>\n<p>Read the full Yardi Matrix Richmond Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/8549-MatrixMultifamilyRichmondReport-April2026\" rel=\"\"><strong>April 2026<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Supply Steady, Asking Rents Rise Richmond\u2019s multifamily market started 2026 on solid footing, building on last year\u2019s momentum, according to the latest Yardi Matrix Richmond multifamily market report. The average advertised asking rent climbed 0.4%, on a trailing three-month basis through February, to $1,619, while the national average ticked down 0.1%, as noted in the [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":10302,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[519,67],"class_list":["post-11037","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2026","tag-richmond"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Richmond Multifamily Market Report \u2013 April 2026 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Richmond ended the winter rental season with an advertised asking rent uptick of 0.4 percent on a T3 basis through February.\" \/>\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-april-2026\/\" \/>\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 April 2026\" \/>\n<meta property=\"og:description\" content=\"Richmond ended the winter rental season with an advertised asking rent uptick of 0.4 percent on a T3 basis through February.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/richmond-multifamily-market-report-april-2026\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2026-05-01T11:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-11-03T11:18:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2025\/11\/Richmond-iStock-2224973169-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 April 2026 - 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