Home Value Trail

Richmond city home price history and building permits

VirginiaRichmond, VA metro area237,257 residents (2025 estimate)

  • FHFA annual index 1975 to 2025
  • Developmental index
  • Release of
  • Permits through August 2026

The FHFA annual house price index for Richmond city increased by 106.4% from 2015 to 2025. From 2020 to 2025, the index increased by 52.7%. From 2024 to 2025, the index increased by 2.3%.

2015

+106.4%

From 2015 to 2025, the FHFA annual all-transactions index for Richmond city increased by 106.4%.

From 2015 to 2025, the average change in each year is +7.5%, compounded.

Same span at each level: 2015 to 2025
AreaChangeBar
Richmond city+106.4%
Richmond, VA+93.8%
Virginia+74.6%
United States+85.0%
Richmond city FHFA annual all-transactions index, 100 in 1975
  • Richmond city
  • United States, set to the same start
  • Recession (NBER dates)
  • Your span
Index values for each year
FHFA annual all-transactions index for Richmond city, 1975 to 2025
YearIndexChange from the year before
20251,377.68+2.3%
20241,347.17+6.8%
20231,261.26+9.1%
20221,155.93+15.3%
20211,002.27+11.1%
2020902.02+3.8%
2019868.83+5.3%
2018825.04+8.5%
2017760.65+8.0%
2016704.05+5.5%
2015667.61+4.0%
2014642.21+6.0%
2013605.95+2.1%
2012593.74−1.4%
2011602.04−3.3%
2010622.42−5.2%
2009656.54−5.8%
2008697.28−0.6%
2007701.28+5.5%
2006664.98+9.6%
2005606.74+15.3%
2004526.42+10.8%
2003475.16+6.4%
2002446.40+8.0%
2001413.44+7.6%
2000384.33+10.6%
1999347.34+7.8%
1998322.32+4.0%
1997310.07+4.5%
1996296.84+2.9%
1995288.39+1.7%
1994283.59+0.6%
1993281.94+0.6%
1992280.34+2.5%
1991273.62+0.3%
1990272.67+4.5%
1989260.82+7.5%
1988242.60+12.8%
1987215.10+8.8%
1986197.62+5.1%
1985188.05+5.2%
1984178.72+5.2%
1983169.89+13.9%
1982149.14+3.2%
1981144.54−0.3%
1980144.98+10.8%
1979130.85+9.9%
1978119.06+7.8%
1977110.41+7.6%
1976102.58+2.6%
1975100.00n/a

Each figure is the change of the FHFA annual all-transactions index, from the year that you pick to 2025. It is a change for the area. It is not the change in the value of your home, and it does not use the price that you paid.

The average for each year is a compounded annual change. The guide to values explains more.

When using the FHFA House Price Calculator, please note that it does not project the actual value of any particular house.

FHFA, about its own House Price Calculator: Federal Housing Finance Agency, House Price Index Datasets, HPI Calculator, copied on . The calculator of FHFA uses quarterly figures. For the states and the 100 largest metro areas it uses the purchase-only index. Its figures can differ from the figures here.

Since the last FHFA release

No recorded FHFA release changed a figure of Richmond city. The record of releases starts with the next FHFA release. FHFA releases recorded by this site

Same span, every level

Change in the FHFA annual index to 2025: Richmond city and the areas above it
Area1 year2024 to 20255 years2020 to 202510 years2015 to 202520 years2005 to 2025Since 20002000 to 2025Each yearaverage of 10 years
Richmond city+2.3%+52.7%+106.4%+127.1%+258.5%+7.5%
Richmond, VA+3.4%+54.5%+93.8%+97.0%+190.5%+6.8%
Virginia+3.7%+48.7%+74.6%+70.8%+188.6%+5.7%
United States+2.8%+47.0%+85.0%+79.1%+158.3%+6.3%

Each row uses FHFA's annual all-transactions index and the same two years. "n/a": the area has no index value for one of the two years.

Drawdowns

A drawdown is a decline of 5% or more of the annual index from a peak.

Drawdowns of the index of Richmond city, deepest first
PeakLowDeclineBack at the peak
20072012−15.3%2016

Decade by decade

Change in the index of Richmond city in each decade
DecadeChangeUnited StatesBar
1980s1980 to 1990+88.1%+68.2%
1990s1990 to 2000+41.0%+33.9%
2000s2000 to 2010+61.9%+29.7%
2010s2010 to 2020+44.9%+35.5%
2020s so far2020 to 2025+52.7%+47.0%

The index is 100 in the first year with a value for the area (1975 here). The change in a decade is the index at the end of the decade divided by the index at the start. The base year has no effect on it.

Building permits

In the 12 months to August 2026, building permits in Richmond city authorized 3,159 housing units. That is 13.3 units for each 1,000 residents.

Housing units authorized by month, latest 60 months
  • Units in buildings with 1 unit
  • Units in buildings with 2 or more units
Units for each month
Housing units authorized by building permits in Richmond city, by month, Sep 2021 to Aug 2026
MonthAll units1 unit2 or more units
Aug 2026468219249
Jul 202626353210
Jun 2026794732
May 202617838140
Apr 20261104070
Mar 2026453411
Feb 2026513120
Jan 20261,200211,179
Dec 2025371720
Nov 202515026124
Oct 202549355438
Sep 2025855728
Aug 202523212
Jul 202528280
Jun 202525250
May 202531855263
Apr 202524240
Mar 202539023367
Feb 202532415309
Jan 202578422762
Dec 202431615301
Nov 202480140761
Oct 202417726151
Sep 2024352510
Aug 202417144127
Jul 202433330
Jun 202426648218
May 202433025305
Apr 202429290
Mar 202430228
Feb 20241244183
Jan 202427124247
Dec 2023857015
Nov 202356267495
Oct 202355526529
Sep 20231033073
Aug 2023863650
Jul 202315150
Jun 2023301218
May 2023342410
Apr 2023441529
Mar 202326341222
Feb 202320829179
Jan 202329822276
Dec 2022981781
Nov 202263630
Oct 202227663213
Sep 2022614912
Aug 202253328505
Jul 202261431583
Jun 202228825263
May 202253530
Apr 202229753244
Mar 202221933186
Feb 202224240
Jan 202212318105
Dec 202158580
Nov 202124322221
Oct 202129290
Sep 202139390
Housing units authorized by year, 1995 to 2025
  • Units in buildings with 1 unit
  • Units in buildings with 2 or more units
Units for each year
Housing units authorized by building permits in Richmond city, by year, 1995 to 2025
YearAll units1 unit2 or more units
20252,6813682,313
20242,5403802,160
20232,2833871,896
20222,6494572,192
20211,067502565
20201,023294729
20191,240353887
2018563273290
20171,317326991
2016510280230
2015523258265
2014551182369
2013849106743
2012840119721
201134392251
2010607126481
2009361139222
2008358253105
2007564356208
2006729483246
2005754525229
200439831979
2003495279216
2002516161355
2001283179104
2000270170100
1999248133115
19981261260
19971341340
19961471470
19951871870
Building permits in the 12 months to August 2026: Richmond city, the state and the nation
FigureRichmond cityVirginiaUnited States
Housing units authorized3,15937,5201,418,086
Units for each 1,000 residents13.34.24.1
Share in buildings with 1 unit20%55%63%
Change from the 12 months before−2.7%+12.1%−0.1%
Units authorized from 199525,1561,220,50243,082,761

A permit authorizes construction. It does not show that the work started or that it is complete. Residents: Census Bureau estimate for 2025.

ZIP Codes in Richmond city

ZIP Codes of Richmond city with an FHFA index, in ZIP Code order
ZIP CodePlace1 year5 years10 yearsNewest year
23220Richmond+1.7%+43.2%+91.8%2025
23221Richmond+0.4%+47.9%+96.6%2025
23224Richmond+4.8%+80.9%+196.1%2025
23225Richmond+3.7%+59.3%+113.7%2025
23226Richmond+2.5%+52.0%+96.1%2025

Each change ends in the newest year of that ZIP Code's index. All ZIP Codes of Richmond city as a CSV file

Cities and towns with building permits

Places in Richmond city with a page, by name: housing units authorized in the 12 months to August 2026
PlaceUnitsFor each 1,000 residentsIn buildings with 1 unit
Richmond3,15913.320%

Median home value of the area, ACS 2020-2024

The American Community Survey (ACS) asks owners what their home would sell for. The table gives the middle of these answers for each area, over the 5 years 2020-2024. It is an estimate for the area. It is not the value of one home and it is not an FHFA figure.

Median value of owner-occupied housing units, Richmond city and the areas above it: ACS 5-year estimate 2020-2024, with margin of error
AreaMedian valueMargin of error
Richmond city$353,000±$7,576
Virginia$383,700±$1,024
United States$332,700±$236

Source: US Census Bureau, American Community Survey 5-year estimates 2020-2024, table B25077.

The Census Bureau defines the value: Value is the respondent's estimate of how much the property (house and lot, mobile home and lot (if lot owned), or condominium unit) would sell for if it were for sale.

It says about the margin of error: The MOEs for published ACS estimates are provided at a 90 percent confidence level. A value of "$2,000,000 or more" is the top group, with no margin. See the glossary. The site copied these texts on .

Agency pages

Each link loaded on .

Cite this page

Home Value Trail. Richmond city, VA home price history. https://homevaluetrail.com/county/va/richmond-city/. Source: Federal Housing Finance Agency, annual house price index for counties (developmental); US Census Bureau, Building Permits Survey. FHFA release of .

Where the figures come from

Index
FHFA annual house price index for counties, all transactions, 1975 to 2025. Release of March 31, 2026.
Other levels
FHFA annual indexes for CBSAs, states and the United States, from the same release.
Building permits
US Census Bureau, Building Permits Survey, county and place files through August 2026.
Residents
US Census Bureau, population estimates for 2025.
ZIP Codes and metro area
US Census Bureau, 2020 ZCTA to county relationship file, and the OMB delineation of July 2023.
Median value
US Census Bureau, American Community Survey 5-year estimates 2020-2024, table B25077.

All files are works of the US government, in the public domain. To report an error, see Corrections.

Questions

Which years had the largest changes in the index for Richmond city?
The largest increase in one year was 15.3%, from 2004 to 2005. The largest decrease in one year was 5.8%, from 2008 to 2009.
How did the index for Richmond city change over 20 years?
From 2005 to 2025, the index for Richmond city increased by 127.1%. In the same years, the index for the Richmond, VA area increased by 97.0%. In the same years, the index for Virginia increased by 70.8%. In the same years, the index for the United States increased by 79.1%.
What is the highest value of the index for Richmond city?
The index is 100 in 1975, the first year with a value for this area. The highest annual value is 1,377.68, in 2025.
How many ZIP Codes and cities of Richmond city have a page?
5 ZIP Codes of the county have an FHFA index and a page. 1 place with building permits has a page.