Affordable Housing In Richmond
Virginia

153 Low Income Apartment Communities In 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
Subsidized

The Renaissance

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

The Mirage at Manchester

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

Saints Cosma and Damianos House

1020 German School Rd
Richmond, Virginia
Income Based
1-2 BR
Subsidized
62+
Accessible
Elderly Supportive Housing

Country Place

111 Starbuck Ct
Richmond, Virginia
Income Based
2-4 BR
Subsidized

Apartments at Kingsridge

390 Kingsridge Rd
Richmond, Virginia
$690-795
2-3 BR

William Byrd Senior Apartments

2501 W Broad St
Richmond, Virginia
Call For Rent
1 BR
55+

Charnwood Forest

4325 Crutchfield St
Richmond, Virginia
Income Based
1-2 BR
Subsidized

Foxwood Apartments

5000 Snead Rd
Richmond, Virginia
Income Based
1-3 BR
Subsidized

Section 8 Vouchers, Apartments, and Waiting Lists in 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.

Households who qualify for these programs may also qualify for Project-Based Section 8, which contributes rental assistance payments directly to private landlords on behalf of low-income tenants. Eligibility for the project-based program is similar to the voucher programs, but waiting list and application policies will vary depending on the landlord.

Public Housing Agencies Serving Richmond, Virginia

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)

Guide To Affordable Housing in Richmond, Virginia

There are 153 low income housing apartment communities offering 17,738 affordable apartments for rent in Richmond, Virginia.

Income Based Apartments in Richmond, Virginia

Richmond features 8,674 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 8,925 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 $1,070 and $1,308.

2022 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 $1,022 $1,044 $1,189 $1,556 $1,864
Richmond, Virginia Payment Standard Range $920 to $1,124 $940 to $1,148 $1,070 to $1,308 $1,400 to $1,712 $1,678 to $2,050

Sourced from federal housing data and AffordableHousingOnline.com research.

Richmond, VA Affordable Housing Snapshot

Total Affordable Apartment Properties 153
Total Low Income Apartments 17,738
Total Housing Units with Rental Assistance 8,674
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 $90,000

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.
$18,900 $21,600 $24,300 $27,000 $31,040 $35,580 $40,120 $44,660
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.
$31,500 $36,000 $40,500 $45,000 $48,600 $52,200 $55,800 $59,400
80% AMI Income Limits
Renters earning up to 80% of the Richmond AMI may qualify for rental assistance programs that target Low Income households.
$50,400 $57,600 $64,800 $72,000 $77,800 $83,550 $89,300 $95,050