Rentometer, Inc. | Data as of 10/24/2025
Richmond, Kentucky offers a dynamic rental market that caters to a wide spectrum of renters, from university students and young professionals to growing families. The city’s mix of historic neighborhoods, such as the vibrant downtown district and the charming Ginter Park area, provides easy access to cultural attractions like the historic Main Street, the Richmond Town Hall, and the nearby Kentucky River. With a variety of dining, shopping, and entertainment options, residents enjoy a blend of small‑town charm and urban convenience.
Apartment options in Richmond are plentiful, with one‑bedroom units typically positioned in the $7,000 range and two‑ and three‑bedroom apartments commonly found in the $1,000 range. These apartments are often located close to Virginia Tech and the University of Richmond, making them ideal for students and faculty seeking short‑term leases or amenities such as on‑site fitness centers and communal spaces. For those who prefer more space, single‑family homes are a popular choice; three‑bedroom houses average around $1,900, while larger four‑plus‑bedroom homes tend to hover near $2,400, offering ample room for families and multigenerational living.
The rental landscape is further enhanced by Richmond’s reputation for quality education, abundant parks, and easy commuter routes via I‑75. Whether you’re searching for a modern apartment near campus, a historic home in a tree‑lined neighborhood, or a spacious family house close to the Riverfront, Richmond’s rental market provides diverse options that suit a variety of lifestyles and budgets.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | 1 Bedroom | $6,982 | $810 | $650 - $75,000 | $740 - $885 |
| Apartment | 2 Bedroom | $1,011 | $965 | $855 - $1,295 | $895 - $1,150 |
| Apartment | 3 Bedroom | $1,074 | $1,016 | $965 - $1,300 | $1,000 - $1,300 |
| House | 3 Bedroom | $1,889 | $2,050 | $1,195 - $2,550 | $1,595 - $2,100 |
| House | 4+ Bedroom | $2,379 | $2,400 | $2,100 - $2,895 | $2,250 - $2,450 |
In the current period, the average rent in Richmond was $6,982 for 1 Bedroom, $1,008 for 2 Bedroom, $1,784 for 3 Bedroom, and $2,367 for 4+ Bedroom.
Data provided by Rentometer, Inc.