RANK #498 / 996 · POP 227,171 · VA
PROJECTED GROWTH: +0.7%
Richmond, Virginia, is known for the James River, which features the nation's only urban Class III and IV rapids, offering whitewater rafting and kayaking within the city. The city is the capital of Virginia, located about 100 miles south of Washington, D.C., and approximately 70 miles northwest of Norfolk. Commuting within Richmond is supported by the GRTC Transit System, including the Pulse Bus Rapid Transit, and the city is becoming more bike-friendly with dedicated lanes and trails like the Virginia Capital Trail. Richmond offers a balance of city and suburban environments, with neighborhoods like Church Hill and the Fan District, and nearby suburbs such as Short Pump and Midlothian.
Life in Richmond offers access to history, culture, and outdoor activities. The city has a diverse economy, with job opportunities in sectors such as finance, government, healthcare, and education. Recent economic developments include significant investment in mixed-use, multifamily, and industrial projects, with a focus on adaptive reuse of existing structures. The region is attracting investment in logistics, data centers, and advanced manufacturing. Richmond Public Schools serve the city, alongside various private school options.
Below national median
Below national median
Below-average climate & terrain
Above national median (13x)
Housing looks undervalued at 2.5x — home prices are low relative to local economic output. The typical U.S. county is 4–6x.
| PROJECT | AMOUNT | STATUS |
|---|---|---|
|
Chesterfield Energy Reliability Center (Natural Gas Plant)
Dominion Energy
|
$1,470M | Approved |
|
Meta Henrico Data Center
Meta, Inc.
|
$1,000M | Operating |
|
Diamond District Redevelopment
Diamond District Partners LLC (led by Thalhimer Realty Partners, Inc.)
|
$500M | Under Construction |
|
Iron Mountain Data Center Campus (RCH-1, RCH-2, RCH-3, RCH-4)
Iron Mountain
|
$200M | Under Construction |
|
Bookers Mill Solar Farm
Dominion Energy
|
$127M | Completed |
|
North Anna Power Station License Extension & Upgrades
Dominion Energy
|
$50M | Planned |
Source: public records, news, corporate announcements. Amounts are estimates where noted.
Bars show percentile rank among all 996 counties.
Richmond city has a Boom Town Index score of 50/100, ranking #498 among 996 U.S. counties. With job growth at +3.4% and a median household income of $59,606, it's an above-average county on economic indicators.
The median home value in Richmond city is $308,300 with median rent at $1,227/month. The income-to-home-value ratio is 0.1933, which is less affordable than the national average.
Population growth: +0.7% year-over-year. Job growth: +3.4%. Home values changed +0.8% in the past 12 months.
Yes — 8.08% of Richmond city's population moved from another state, which is above the national average and indicates strong in-migration.