How Long to Save for a Home in Richmond, VA
Median home price, average rent, and a personalized savings timeline for Richmond — updated 2026-Q1.
Median Home Price
$360,000
Average Rent
$1,500/mo
Median Income
$68,000/yr
5yr Price Growth
+25%
Calculate for Richmond
Invest this % of your rent ($1,500/mo)
Down payment
Down Payment Scenarios in Richmond
| Scenario | Down Payment | With Bricks | Savings Acct |
|---|---|---|---|
| 3.5% FHA | $12,600 | 5.6 years | 6.3 years |
| 10% Down | $36,000 | 12 years | 14.8 years |
| 20% Down | $72,000 | 18 years | 24 years |
Start saving for a home in Richmond
Bricks helps renters invest toward homeownership. Join the waitlist.
Buying a Home in Richmond, Virginia
Richmond is one of the South's growing metro areas with a population of 230,000. The median home price of $360,000 is near the national average.
With average rent at $1,500/month, a renter in Richmond investing 10% of their rent ($150/month) into diversified REITs could accumulate a 20% down payment of $72,000 in approximately 18 years. The same monthly contribution in a high-yield savings account would take about 24 years.
Home prices in Richmond have grown 25% over the past five years, roughly in line with national trends. For renters, this means the down payment target continues to move — making it even more important to invest rather than just save, so your money grows alongside home prices.