Affordable Housing In Richmond
Virginia

Affordable Housing programs support 9,002 income based apartments in Richmond where households pay rent based on how much they earn.

There are 9,800 affordable apartments in Richmond that offer reduced rents to low-income households.

Waiting Lists in Richmond, Virginia

There are no open Section 8 Housing Choice Voucher waiting lists in Richmond. Go to the Virginia Section 8 Waiting Lists page for openings near Richmond.

The Townes at River South I & II

214 E 9th Street
Richmond, Virginia
$709-925
2-4 BR

Randolph Village

704A S Harrison St
Richmond, Virginia
Income Based
2-3 BR
Rent Assisted

The Renaissance

1021 German School Rd
Richmond, Virginia
Income Based
1-2 BR
Rent Assisted

Market Square V

7300 Taw Street
Richmond, Virginia
Call For Rent
1-2 BR
55+
Affordable

The Mirage at Manchester

1125 Commerce Rd
Richmond, Virginia
Income Based
1 BR
VASH Welcome
Minimum Income Requirement

The Foundry Apartments

946 Sledd St
Richmond, Virginia
Call For Rent
1-3 BR
Affordable

The Oliver

908 Oliver Hill Way
Richmond, Virginia
Call For Rent
1-2 BR
Affordable

Alexander at 1090 Apartments

1090 German School Road
Richmond, Virginia
$1,095-1,263
2-3 BR
Affordable

Cary West

22 S. Meadow Street
Richmond, Virginia
Call For Rent
1-3 BR
Affordable

Saints Cosma and Damianos House

1020 German School Rd
Richmond, Virginia
Income Based
1-2 BR
Rent Assisted
62+
Accessible
Elderly Supportive Housing
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Public Housing Agencies Serving Richmond, Virginia

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Waiting lists for project-based assistance, like the Public Housing program, are open:

Housing Authority Programs
Richmond Redevelopment and Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing; Family Self-Sufficiency; Veteran Affairs Supportive Housing (VASH)
Central Virginia Resource Corporation - Main Section 8 Housing Choice Voucher (HCV)
Go to the Virginia Public Housing and Low-Income Apartments Waiting Lists page for openings near Richmond.

Richmond, Virginia Affordable Housing Data

Income Based Apartments in Richmond, Virginia

Richmond features 9,002 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Richmond, Virginia

There are 9,800 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Richmond.

Housing Choice Vouchers in Richmond, Virginia

On average, Section 8 Housing Choice vouchers pay Richmond landlords $700 per month towards rent. The average voucher holder contributes $400 towards rent in Richmond.

The maximum amount a voucher would pay on behalf of a low-income tenant in Richmond, Virginia for a two-bedroom apartment is between $1,202 and $1,470.

2023 Richmond, Virginia Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Richmond, Virginia Fair Market Rent $1,157 $1,183 $1,336 $1,727 $2,100
Richmond, Virginia Payment Standard Range $1,041 to $1,273 $1,065 to $1,301 $1,202 to $1,470 $1,554 to $1,900 $1,890 to $2,310

Sourced from federal housing data and AffordableHousingOnline.com research.

Richmond, VA Affordable Housing Snapshot

Total Affordable Apartment Properties 166
Total Low Income Apartments 19,001
Total Housing Units with Rental Assistance 9,002
Percentage of Housing Units Occupied By Renters 57.72%
Average Renter Household Size 2.30
Average Household Size 2.33
Median Household Income $40,758 ±$778
Median Rent $896 ±$12
Percentage Of Renters Overburdened 53.04% ± 1.98pp
Total Population 213,735

Population and Household Demographics

Richmond is a city in Virginia with a population of 213,735. There are 87,224 households in the city with an average household size of 2.33 persons. 57.72% of households in Richmond are renters.

Income and Rent Overburden in Richmond

The median gross income for households in Richmond is $40,758 a year, or $3,397 a month. The median rent for the city is $896 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Richmond, a household making less than $2,987 a month would be considered overburdened when renting an apartment at or above the median rent. 53.04% of households who rent are overburdened in Richmond.

Area Median Income In Richmond

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

In Richmond, HUD calculates the Area Median Income for a family of four as $101,000

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Richmond

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in Richmond

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Richmond AMI may qualify for rental assistance programs that target Extremely Low Income households.
$21,150 $24,200 $27,200 $30,200 $32,650 $37,190 $41,910 $46,630
50% AMI Income Limits
Renters earning up to 50% of the Richmond AMI may qualify for rental assistance programs that target Very Low Income households.
$35,250 $40,300 $45,350 $50,350 $54,400 $58,450 $62,450 $66,500
80% AMI Income Limits
Renters earning up to 80% of the Richmond AMI may qualify for rental assistance programs that target Low Income households.
$56,400 $64,450 $72,500 $80,550 $87,000 $93,450 $99,900 $106,350