Richmond, Virginia

Richmond, Virginia Details

A uniquely historical city

Richmond is located along the James River and is famous for its rich colonial history. It was first settled by Europeans in 1737, and is home to Patrick Henry’s famous “Give me liberty or give me death” speech. The city is home to 15 historic districts, and the State Capitol building was designed by Thomas Jefferson himself.

History buffs will find no shortage of things to do here, including old homes, Civil War relics, historic churches and famous cemeteries. U.S. News named Richmond as the eighth-best historic destination in the country.

Diverse and booming

Richmond has about an equal percentage of white and African-American residents, and is a culturally and ethnically diverse city. The median income is $53,889 and 36% of residents have a Bachelor’s degree or higher. Fifty-two percent of residents are homeowners. The city is a hub for young professionals.

Richmond is home to six Fortune 500 companies, including CarMax and Dominion Resources. It’s also home to a variety of government agencies as well as other industries, including law, finance, advertising and health. This makes it an ideal place to move for career advancement, especially since the city also features a low cost of living in comparison to other major cities.
Homes and transportation

The median home value in Richmond is just $176,500 as of April 2017, and the market is booming. Home values have gone up 13.7% over the past year alone. The median sales price is now $239,950. For renters, the median cost of a two-bedroom home is $960 per month.

Pricier neighborhoods include Westover Hills and Forest Hill, while more affordable neighborhoods include Forest Hill Terrace and Byrd Park. There are several affluent suburbs nearby.

There are a variety of styles of homes to choose from, from historic homes to modern high-rises. The downtown area is artsy and historic. These neighborhoods, such as Carytown and Monroe Park, are highly walkable and urban.

Other more residential areas are great for young families. Though they are less walkable, commute times are generally short — less than a half hour or so — due to the well-designed Interstate system. It’s also easy to bike in this city.
Things to do in the River City

Not only is this city affordable, but it also features all of the benefits of a busy metropolis, including plenty of cultural events and nightlife.

For culture- and art-lovers, there are several museums, hundreds of murals, live music, and a variety of outdoor events. The revitalized downtown area features a variety of shops, eateries and a performing arts center. There are multiple nationally-renowned restaurants and 12 microbreweries. The city is also home to several universities.

Richmond also features one of the oldest city park systems in the country, with several located along the James River. It’s easy to access natural beauty from this area, including the Virginia wetlands, gorgeous mountains and coastal beaches.

Richmond is also a great city for sports fans. Though they call D.C. home, the Redskins train in Richmond every summer at the Bon Secours Washington Redskins Training Center. Spectators can come get a unique glimpse of their favorite players during pre-season. The city is also well-known for its NASCAR racing community; many locals are huge fans.

A safe and friendly city

This city has become increasingly safe over the past decade. Though in the early 2000s it had some of the highest crime rates in the U.S., within 10 years it was no longer in the top 200 cities and crime is still steadily decreasing. It features a mixture of working-class, middle-class and upper-class neighborhoods.

Though Virginia is located right along the border of the North and South, Richmond has a distinctly Southern character. Locals are huge fans of their sweet tea, and the city is friendly and welcoming.

If you’re considering a rental property in Richmond, call us for a comprehensive market analysis.