Richmond, Virginia Short-Term Rental Market
Richmond, VA short-term rentals averaged $162 a night at 69.7% occupancy in June 2026.
Quick Answer: Richmond, Virginia is an active short-term rental market. average occupancy in the Richmond market area is 70%. average monthly revenue in the Richmond market area is $3,079. average daily rate in the Richmond market area is $162. the top operator in the Richmond market area is Landing, Inc. with 86 listings. market score is 99/100 (grade A).
Market data reflects the wider Richmond market, which covers 3 areas. Regulations, taxes, and permit details below are specific to Richmond.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
Richmond, Virginia’s capital and a major mid-Atlantic historic and business hub, has 2,929 tracked short-term rental listings as of June 2026. The market averaged $161.56 a night (ADR) at 69.7% occupancy, generating an average of $3,079 in monthly revenue per listing. ADR is up 4.1% year over year and revenue is up 3.9%, even as occupancy slipped 1.5%, a rate-led growth pattern.
Of the 2,928 listings with bedroom data, 1-bedroom units are the largest group at 1,402 (47.9%), followed by 2-bedroom units at 664 (22.7%) and 3-bedroom units at 585 (20.0%). Larger 4-bedroom and 5-bedroom properties account for 203 (6.9%) and 74 (2.5%).
Entire-place listings dominate at 2,357 of 2,929 (80.5%), with 570 private rooms (19.5%) and 2 shared rooms. Channel distribution favors Airbnb, listed alone on 1,942 properties (66.3%), while 886 (30.2%) are dual-listed on both Airbnb and Vrbo and 101 (3.4%) are Vrbo only.
Revenue varies by property type: apartment-style units average $2,594 a month, entire-place units average $3,505, and standalone houses average $3,392.
The Richmond Region drew more than 19.1 million visitors in 2024, a 4.7% increase over the prior year, generating close to $3.9 billion in visitor spending, though that figure covers the broader metro region rather than the city alone. Richmond’s population is about 233,655, and demand is driven by Civil War and colonial history sites, a nationally recognized arts and museum scene, craft beer and culinary tourism, and outdoor recreation along the James River.
Seasonal Patterns
| Month | Occupancy |
|---|---|
| Jan | 57% |
| Feb | 63% |
| Mar | 66% |
| Apr | 64% |
| May | 66% |
| Jun | 69% |
| Jul | 70% |
| Aug | 68% |
| Sep | 64% |
| Oct | 64% |
| Nov | 62% |
| Dec | 58% |
Month-by-month nightly rates and revenue figures for Richmond are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Top Short-Term Rental Operators in Richmond market area
Ranked by total active listings. Useful for understanding the competitive landscape. Operator data is published for the Richmond market as a whole, which includes Richmond, so these counts are not Richmond-only figures.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Landing, Inc. | 86 | 107 | ★ 3.78 |
| 2 | Utopia VRM | 70 | 4,511 | ★ 4.82 |
| 3 | Evolve | 38 | 1,142 | ★ 4.61 |
| 4 | Properties By Preston | 31 | 97 | ★ 3.81 |
| 5 | Family Properties 456 | 29 | 1,079 | ★ 4.91 |
What Kind of STR Should I Buy in Richmond?
Revenue and nightly-rate breakdowns by bedroom count, property tier, and dwelling type for Richmond are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 66.3% |
| vrbo | 3.4% |
| both | 30.2% |
Home Value Trends (Richmond)
Typical home values, median sale prices, and the 10-year price trend for Richmond are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Booking Insights
Booking-window and length-of-stay analysis for Richmond — how far ahead guests book and how to price around it — is available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Short-Term Rental Regulations
Richmond adopted a formal short-term rental framework under Ordinance No. 2023-235, effective September 25, 2023. Operating an STR requires a Short-Term Rental Permit, obtained on a biennial basis for a $600 fee, plus a Certificate of Zoning Compliance. The operator must be the property owner.
The primary-residence requirement is the key constraint for investors: in residential zoning districts, the STR must be located on the lot of the operator’s primary residence, meaning owners cannot run non-owner-occupied whole-home STRs as investment properties in those zones. Primary residency is verified via DMV or voter registration records and generally requires living there at least 185 days a year. Only one STR is permitted per residential lot. In non-residential and multifamily zones, occupancy is capped at ten units or one-third of the units in the building, whichever is lesser.
Total renters are limited to eight adults per stay, and there is no cap on the number of nights an STR may operate per year. Hosts must post the STR permit approval number on all listings and meet safety requirements, including smoke and CO detectors and a fire extinguisher.
On taxes, guests pay an 8% transient occupancy tax, remitted to the city by the 20th of each month. Enforcement is rated strict: zoning violations are a Class I misdemeanor carrying fines up to $2,500 and up to a year in jail.
Market Comparison
Richmond’s 69.7% occupancy runs well above the national short-term rental median of roughly 55%, about 14.7 percentage points higher, while its $161.56 ADR is roughly 26.6% below a national median ADR of about $220. This combination, high occupancy at a value-priced rate, reflects steady demand from Richmond’s history, arts, and convention tourism at accessible price points relative to many East Coast markets.
The market is led by a mix of specialized operators rather than the largest national brands. Landing, Inc. holds the top spot with 86 listings (2.9% of the market’s 2,929 tracked listings) and 107 reviews at a 3.78 average rating. Utopia VRM is second with 70 listings (2.4% share) and 4,511 reviews at a strong 4.82 rating. Evolve ranks third with 38 listings (1.3% share) and 1,142 reviews at 4.61. Together, the top three managers control only about 6.6% of tracked listings, a fragmented market typical of a mid-size East Coast city.
Frequently Asked Questions About Richmond, Virginia
Can I buy an investment property in Richmond, VA purely to run it as an Airbnb?
What is the average Airbnb occupancy rate in Richmond, VA?
What is the average nightly rate for a vacation rental in Richmond, VA?
How much does an STR permit cost in Richmond, VA?
What is the gross rental yield on a typical Richmond, VA home used as a short-term rental?
When is peak season for vacation rentals in Richmond, VA?
What happens if I violate Richmond's short-term rental zoning rules?
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