← Price Inflation Report / Rent Tracker
Rent Tracker
The average asking rent in Richmond, VA is $1,691/month as of 2026-03. That is +3.6% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) · zillow.com/research
Current Avg Rent
$1,691/mo
as of 2026-03
Year-over-Year Change
+3.6%
Monthly ZORI index values for Richmond, VA.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-03 | $1,691 | +0.54% |
| 2026-02 | $1,682 | +0.72% |
| 2026-01 | $1,670 | +0.54% |
| 2025-12 | $1,661 | +0.00% |
| 2025-11 | $1,661 | -0.30% |
| 2025-10 | $1,666 | -0.66% |
| 2025-09 | $1,677 | -0.24% |
| 2025-08 | $1,681 | +0.12% |
| 2025-07 | $1,679 | +0.90% |
| 2025-06 | $1,664 | +0.48% |
| 2025-05 | $1,656 | +0.61% |
| 2025-04 | $1,646 | +0.86% |
| 2025-03 | $1,632 | +0.80% |
| 2025-02 | $1,619 | +0.31% |
| 2025-01 | $1,614 | +0.12% |
| 2024-12 | $1,612 | +0.25% |
| 2024-11 | $1,608 | +0.06% |
| 2024-10 | $1,607 | -0.50% |
| 2024-09 | $1,615 | -0.19% |
| 2024-08 | $1,618 | +0.50% |
| 2024-07 | $1,610 | +0.69% |
| 2024-06 | $1,599 | +0.88% |
| 2024-05 | $1,585 | +0.70% |
| 2024-04 | $1,574 | — |
Shelter is the single largest component of the official CPI, accounting for roughly one-third of the index. But the BLS shelter index tends to lag real-market rent changes by 12–18 months because it measures rents paid by all tenants — including long-term renters locked into old leases. ZORI measures asking rents for new leases, making it a timelier signal of where CPI shelter inflation is headed.
When ZORI is rising sharply in your city, it is a leading indicator that official shelter inflation — and therefore overall CPI — will remain elevated in coming months.
Data: Zillow Research ZORI · Updated monthly · Price Inflation Report