Richmond, VA

Population: 214,114
Average annual home appreciation rate: 12.21%
Total of homes for sale in this market: 1,583
Median home price: $205,221
Median Rent: $976 per room
Home price range: 35.32% of homes are between $104,001 – $209,000
Median sales price: $197,000
Number of homes: 1,028
Median foreclosure sales price: $91,000
Foreclosure discount: $106,000 ( 53.8% )
Most common home type: 48.03% of homes are SINGLE FAMILY DETACHED
Number of vacant homes: 13.94%
Number of renters: 59.09%
Number of owner occupied: 40.91%
Number people living below poverty level: 25.61%
Unemployment rate: 6.00%
Is this area perfect for real estate deals going on right now? Data shows, this makes Richmond one of the highest appreciating communities in the nation for the latest quarter, and may signal the city’s near-future real estate investment strength. With a high poverty level, this can have an impact on rental housing thus leading to opportunities for buy and hold investors.

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