Richmond, Virginia Short-Term Rental Market
Richmond requires owner primary residence for STRs in residential zones, with September 2026 ADR $151, occupancy 64.8%, revenue $2,691.
Quick Answer: Richmond, Virginia is an active short-term rental market. average occupancy in the Richmond market area is 65%. average monthly revenue in the Richmond market area is $2,691. average daily rate in the Richmond market area is $151. 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 is a restricted but active short-term rental market, and the data below runs through September 2026. Operating a short-term rental in a residential zone requires the owner to live in the property as a primary residence, so most of the performance figures here reflect hosts who qualify under that rule or operate in eligible non-residential zones. In September 2026 the average daily rate across all listings was $151, occupancy was 64.8%, and average monthly revenue per listing was $2,691. Compared with September 2025, occupancy is 0.3% lower, ADR is 3.5% higher, and revenue is 0.9% higher, so rate growth is carrying the market while demand is essentially flat.
The Richmond area STR market tracks 2,929 listings. Entire places account for 2,357 of them (80.5%), private rooms for 570 (19.5%), and shared rooms for 2. By bedroom count, one-bedroom units dominate with 1,402 listings (47.9%), followed by 664 two-bedroom, 585 three-bedroom, 203 four-bedroom and 74 five-bedroom listings. On distribution, 1,942 listings are on Airbnb only, 101 are on Vrbo only, and 886 appear on both platforms.
Demand is supported by regional tourism. The Richmond Region drew more than 19.1 million visitors in 2024, a 4.7% increase over the prior year. That figure covers the broader metro rather than the city alone, which has a population of 233,655. Visitors come for American history sites, museums, craft beer and dining, outdoor recreation along the James River, and business and convention travel tied to the Greater Richmond Convention Center.
Annual performance has been steady. Occupancy for 2025 averaged 65.4% at an ADR of $148, and 2026 through September is running at 66.0% occupancy and an ADR of $152.
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
Short-term rentals are permitted in Richmond, but the rules are strict and the owner-occupancy requirement is the main constraint. The city adopted Ordinance No. 2023-235 on September 25, 2023, creating a formal framework. A 2024 Virginia Senate bill considered limiting local authority to regulate short-term rentals, but Richmond’s local requirements remained in effect.
An operator needs a Short-Term Rental Permit and a Certificate of Zoning Compliance. The permit is biennial and costs $600. The operator must be the property owner. In residential zoning districts, the rental must be on the lot of the operator’s primary residence, which is verified through DMV or voter registration records and generally requires living there at least 185 days a year. Only one short-term rental is permitted per lot. Total renters are limited to eight adults.
In non-residential zones, occupancy is capped at ten units or one-third of the units in the building, whichever is lesser. There is no cap on the number of nights a rental may operate per year.
Hosts must post the permit approval number on all listings and meet safety requirements, including smoke and carbon monoxide detectors and a fire extinguisher. Guests pay an 8% transient occupancy tax, which is remitted to the city by the 20th of each month.
Enforcement is strict. Zoning violations are a Class I misdemeanor, with fines up to $2,500 and up to a year in jail. Pure investment short-term rentals are effectively limited to eligible non-residential or mixed-use zones. Confirm current rules with the city before buying.
Market Comparison
Richmond’s September 2026 occupancy was 64.8% at an ADR of $151.
The occupancy reflects year-round demand from history and museum visitors, outdoor recreation, and business and convention travel. The rate reflects a mid-priced city market with one-bedroom units making up 47.9% of listings, rather than a resort destination with large premium homes. Luxury listings do reach $268.
The Richmond area STR market is also served by several professional operators. The largest by listing count are Landing, Inc. with 86 listings, Utopia VRM with 70, Evolve with 38, and Properties By Preston with 31. Utopia VRM holds a 4.8 rating across 4,511 reviews, while Landing, Inc. holds a 3.8 rating across 107 reviews.
For investors, the comparison suggests that Richmond rewards well-run listings with steady occupancy, but the owner-occupancy rule limits how much of that opportunity is open to outside buyers.
Frequently Asked Questions About Richmond, Virginia
Are short-term rentals legal in Richmond, Virginia?
What is the average Airbnb occupancy in Richmond?
How much do Richmond short-term rentals earn?
What is the best month for Richmond short-term rentals?
What taxes apply to Richmond short-term rentals?
Can investors buy a house in Richmond to run as an Airbnb?
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