{"id":6631,"date":"2026-10-28T10:27:00","date_gmt":"2026-10-28T10:27:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=6631"},"modified":"2026-11-03T11:20:01","modified_gmt":"2026-11-03T11:20:01","slug":"richmond-multifamily-market-report","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/richmond-multifamily-market-report\/","title":{"rendered":"Richmond Multifamily Market Report \u2013 October 2026"},"content":{"rendered":"<h2>Market Outperforms, Job Growth Lags<\/h2>\n<p>Despite a slight post-spring slowdown, Richmond\u2013Tidewater fundamentals continued to outpace most U.S. markets, according to the latest Yardi Matrix Richmond multifamily market report. Area asking rents were up 4.0% to $1,670, year-over-year through August, while the national average saw a 0.4% improvement, to $1,773. Meanwhile, occupancy in stabilized Richmond assets clocked in at 94.9%, down 30 basis points but still leading the 94.2% national figure, as noted in the most recent <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>U.S. multifamily market report<\/strong><\/a>.<\/p>\n<p><iframe id=\"datawrapper-chart-FwxQM\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Richmond vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/FwxQM\/1\/\" height=\"326\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">(function(){function e(){window.addEventListener(`message`,function(e){if(e.data[`datawrapper-height`]!==void 0){var t=document.querySelectorAll(`iframe`);for(var n in e.data[`datawrapper-height`])for(var r=0,i;i=t[r];r++)if(i.contentWindow===e.source){var a=e.data[`datawrapper-height`][n]+`px`;i.style.height=a}}})}e()})();<\/script><br \/>\nEmployment dynamics, however, remained disconnected from the area\u2019s rental performance, a trend visible across the country since hybrid and remote work became widespread. Richmond lost 9,900 net jobs in the 12 months ending in June, with just two of 10 employment sectors in the black: education and health services (+2,900 positions) and leisure and hospitality (+1,000). Still, a handful of massive projects expected to boost the local economy are moving forward, from the largest coastal wind farm in the U.S. and large data center projects from QTS and Google to a $2.4 billion mixed-use district and LEGO\u2019s upcoming 1.7 million square- foot plant.<\/p>\n<p><iframe id=\"datawrapper-chart-XuDeT\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Richmond Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/XuDeT\/1\/\" height=\"417\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">(function(){function e(){window.addEventListener(`message`,function(e){if(e.data[`datawrapper-height`]!==void 0){var t=document.querySelectorAll(`iframe`);for(var n in e.data[`datawrapper-height`])for(var r=0,i;i=t[r];r++)if(i.contentWindow===e.source){var a=e.data[`datawrapper-height`][n]+`px`;i.style.height=a}}})}e()})();<\/script><br \/>\nDevelopment is humming along, with 2,500 apartments delivered year-to-date through August and an additional 9,120 units under construction. Transactions recorded a clear improvement, with investors shelling out $1.1 billion in the area during the first eight months of 2026, at a $167,056 average price per unit.<\/p>\n<p>Read the full Yardi Matrix Richmond Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/multifamily-metro\/matrix-multifamily-richmond-report-october-2026\/\" rel=\"\"><strong>October 2026<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market Outperforms, Job Growth Lags Despite a slight post-spring slowdown, Richmond\u2013Tidewater fundamentals continued to outpace most U.S. markets, according to the latest Yardi Matrix Richmond multifamily market report. Area asking rents were up 4.0% to $1,670, year-over-year through August, while the national average saw a 0.4% improvement, to $1,773. Meanwhile, occupancy in stabilized Richmond assets [&hellip;]<\/p>\n","protected":false},"author":753,"featured_media":11039,"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-6631","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 | Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Access the up-to-date Richmond multifamily market report by Yardi Matrix to understand market fundamentals and get the latest data.\" \/>\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\/\" \/>\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 2026\" \/>\n<meta property=\"og:description\" content=\"Access the up-to-date Richmond multifamily market report by Yardi Matrix to understand market fundamentals and get the latest data.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/richmond-multifamily-market-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2026-10-28T10:27:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-11-03T11:20:01+00:00\" \/>\n<meta property=\"og:image\" 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