Market Snapshot
Report generated March 2026
| Indicator | Value |
|---|---|
| Population | 227,595 ↑ 0.4% since 2020 |
| Median Household Income | $62,671 16% below national median |
| Median Home Value | $328,100 |
| Unemployment Rate | 6.0% |
| Median Age | 34.5 years |
| Housing Vacancy Rate | 9.5% |
| Total Land Sales (Past 12 Months) | 194 transactions |
| Active Listings | 22 properties |
| Avg Days on Market | 554 days |
Rural Land Sales (1+ Acres) (Jul 2025 – Feb 2026)
| Metric | Value |
|---|---|
| Median Price/Acre | $54,965 |
| Recent Sales | 31 transactions |
| Avg Days on Market | 548 days |
| Avg Parcel Size | 3.90 acres |
| Active Listings | 4 properties |
Recent Rural Land Sales
| Date | Acres | Price | $/Acre | Location |
|---|---|---|---|---|
| Feb 2026 | 1.03 | $1,225,000 | $1,184,720 | Richmond |
| Dec 2025 | 5.97 | $427,000 | $71,524 | Midlothian |
| Dec 2025 | 2.14 | $280,000 | $130,841 | Richmond |
| Nov 2025 | 1.33 | $65,000 | $49,039 | Richmond |
| Nov 2025 | 8.30 | $360,000 | $43,373 | Midlothian |
| Jul 2025 | 5.00 | $260,000 | $52,000 | Richmond |
| Jul 2025 | 1.57 | $995,000 | $631,746 | Richmond |
| Jul 2025 | 1.57 | $995,000 | $631,746 | Richmond |
| Jul 2025 | 5.99 | $250,000 | $41,757 | Richmond |
Suburban/Urban Land Sales (Under 1 Acre) (Nov 2025 – Mar 2026)
| Metric | Value |
|---|---|
| Median Lot Price | $79,950 |
| Recent Sales | 163 transactions |
| Avg Days on Market | 555 days |
| Avg Parcel Size | 0.20 acres |
| Active Listings | 18 properties |
Recent Suburban/Urban Land Sales
| Date | Acres | Price | Location |
|---|---|---|---|
| Mar 2026New | 0.38 | $40,000 | Richmond |
| Mar 2026New | 0.18 | $45,000 | Richmond |
| Feb 2026 | 0.16 | $422,500 | Richmond |
| Feb 2026 | 0.08 | $25,000 | Richmond |
| Jan 2026 | 0.04 | $180,000 | Richmond |
| Jan 2026 | 0.05 | $80,000 | Richmond |
| Jan 2026 | 0.26 | $1,100,000 | Richmond |
| Jan 2026 | 0.08 | $56,000 | Richmond |
| Nov 2025 | 0.05 | $180,000 | Richmond |
| Nov 2025 | 0.27 | $52,000 | Richmond |
County Profile
| Demographic | Value |
|---|---|
| Total Population (2023) | 227,595 |
| Population (2020) | 226,610 |
| Population Growth | 0.43% |
| Median Household Income | $62,671 |
| Median Home Value | $328,100 |
| Total Housing Units | 112,848 |
| Vacant Housing Units | 10,703 |
| Housing Vacancy Rate | 9.5% |
| Median Age | 34.5 |
| Bachelor's Degree or Higher | 41,917 (18.4%) |
| Unemployment Rate | 6.0% |
Market Overview
Richmond city, Virginia has a population of 227,595, which has grown 0.43% since 2020. The median household income is $62,671, below the national median of $74,580 by 16.0%. The housing vacancy rate of 9.5% suggests balanced market conditions. Richmond city remains a key area for land acquisition in Virginia. Recent rural land sales show a median price of $54,965 per acre, with properties averaging 3.90 acres. There are currently 22 active land listings in the county.
Related Resources
Nearby County Reports
Frequently Asked Questions
What is the current population of Richmond city, Virginia?
As of the 2023 American Community Survey, Richmond city has a population of 227,595. The county has grown 0.43% since the 2020 Census, indicating a growing community.
What is the median household income in Richmond city?
The median household income in Richmond city is $62,671, which is 16.0% below the national median of $74,580.
Is Richmond city growing or shrinking?
Richmond city is growing. The population has increased 0.43% since 2020.
What is the housing market like in Richmond city?
The median home value in Richmond city is $328,100. The housing vacancy rate is 9.5%, which suggests balanced market conditions. The unemployment rate is 6.0%, reflecting the local economic conditions. Recent rural land sales (1+ acres) show a median price of $54,965 per acre. Suburban/urban lots under 1 acre have a median lot price of $79,950.
Does Reelvest buy land in Richmond city, Virginia?
Yes! Reelvest Properties buys vacant land throughout Virginia, including Richmond city. We make cash offers within 24-48 hours, close in 14-30 days, and pay all closing costs. Get your free cash offer today.
Data Sources: Market data reflects recent vacant land transactions in the county. Demographic data from U.S. Census Bureau American Community Survey (2023), Bureau of Labor Statistics (2025). Updated monthly.