Permits through August 2026Yearly permits since 1995Richmond city index 1975–2025
Richmond city (100 = first year)United States, rebased to the same startNBER recession
House prices are indexed by county, not by city: this is Richmond city's FHFA index, with the national index rebased to the same start.
Census Bureau notes: building permit figures cover new privately owned housing units authorised by permit-issuing places; permits do not mean the units were started or completed, and places that report less often than monthly are imputed in monthly totals. FHFA notes: The FHFA HPI is a broad measure of the movement of single-family house prices. The FHFA HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties.
Richmond, Virginia (Richmond city), authorised 3,159 housing units through building permits in the 12 months to August 2026, −2.7% on the previous 12 months.
638 of those units were single-family houses (20%), 72 were in two- to four-unit buildings and 2,449 in buildings of five or more units. That is 13.3 units per 1,000 residents, close to the county's 13.3 and well above the state's 4.2.
Since 1995 the place has authorised 25,651 units, with the busiest year 2025 (2,681 units). Richmond city's FHFA house price index rose +106.4% over the ten years to 2025.
3,159units permitted, 12 months to August 2026−2.7% on the previous 12 months
638single-family units20% of the total
2,449units in 5+ unit buildings78% of the total
13.3units per 1,000 residentsRichmond city 13.3 · Virginia 4.2
Permits by month and structure type
Housing units authorised in Richmond by month, latest 24 monthssingle-family2+ unit buildings
Units, 12 months to August 2026
Richmond
Richmond city
Virginia
United States
All housing units
3,159
3,159
37,520
1,418,086
Single-family (1 unit)
638 (20%)
638 (20%)
20,665 (55%)
888,241 (63%)
2 units
72
72
448
34,814
3–4 units
0
0
130
17,298
5 or more units
2,449 (78%)
2,449 (78%)
16,277 (43%)
477,733 (34%)
Units per 1,000 residents
13.3
13.3
4.2
4.1
Change on previous 12 months
−2.7%
−2.7%
+12.1%
−0.1%
Permits by year since 1995
Housing units authorised in Richmond by year, 1995–2025single-family2+ unit buildings
25,651 units since 1995; the busiest year was 2025. Annual figures include units imputed for months a place did not report.
Home prices in Richmond city
FHFA's index for Richmond city rose +106.4% over the ten years to 2025 (+7.5% a year) and +2.3% in the latest year, against +74.6% and +3.7% for Virginia. Full county page: decade table, peak-to-low declines, every ZIP code and every permit-issuing place in the county.
Questions and answers
How many homes are being built in Richmond, VA?
3,159 housing units were authorised by building permits in the 12 months to August 2026, against 3,245 in the previous 12 months.
What kind of housing is being permitted in Richmond?
638 single-family units, 72 in two-unit buildings, 0 in three- and four-unit buildings and 2,449 in buildings of five or more units.
How does Richmond compare with its county and state?
13.3 units per 1,000 residents in Richmond, 13.3 in Richmond city and 4.2 in Virginia.
How have home prices moved in Richmond city?
FHFA's index for Richmond city rose +106.4% over the ten years to 2025 and +2.3% in the latest year; the county page has the full series.
What does a permit count?
A housing unit authorised by a building permit for new privately owned residential construction, as reported to the Census Bureau Building Permits Survey by the permit-issuing office. Permits are not completions; some permitted units are never built, and places that report only annually are imputed in monthly figures.
Provenance
Permits: US Census Bureau, Building Permits Survey, place-level monthly and annual files through August 2026 (permit office 063000); county and state comparisons from the county and state files. Population: Census Bureau vintage 2025 estimates for incorporated places, matched on FIPS place code where the permit office is one. House price index: Federal Housing Finance Agency. Public domain. Corrections · Building Permits Survey.