Richmond, VA Profile: Facts & Data

The City of Richmond is the 5th largest city in Virginia with a population of 233,519 as of July 1, 2024. Richmond ranks in the upper quartile for Population Density and Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Virginia. See peer rankings below.

The primary coordinate point for Richmond is located at latitude 37.5538 and longitude -77.4603 in Richmond (city) County. The formal boundaries for the City of Richmond encompass a land area of 59.82 sq. miles and a water area of 2.66 sq. miles. Richmond (city) County is in the Eastern time zone (GMT -5).

The City of Richmond has a C7 Census Class Code which indicates an incorporated place that is independent of any county. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Richmond, VA Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	233,519 (100%)
Population in Households	221,901 (95.0%)
Population in Families	135,191 (57.9%)
Population in Group Quarters¹	11,618 ( 5.0%)
Population Density	3,897
Diversity Index²	72


INCOME
Median Household Income	$61,708
Average Household Income	$97,787
% of Income for Mortgage⁴	40%
Per Capita Income	$44,947
Wealth Index⁵	72
Socioeconomic Status Index⁶	Moderate (45.9)

HOUSING
Total HU (Housing Units)	116,975 (100%)
Owner Occupied HU	40,658 (34.8%)
Renter Occupied HU	66,174 (56.6%)
Vacant Housing Units	10,143 ( 8.7%)
Median Home Value	$389,700
Average Home Value	$473,256
Housing Affordability Index³	62

HOUSEHOLDS
Total Households	106,832
Average Household Size	2.08
Family Households	45,527
Average Family Size	3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

Richmond, VA - Peer Comparisons by Rank and Percentile

The table below compares Richmond to the other 688 incorporated cities, towns and CDPs in Virginia by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	0.71%	0.45%
Households	1.01%	0.82%
Families		0.61%
Median Household Income		3.11%
Per Capita Income		3.59%
Owner Occupied HU		1.00%

Variable Description	Rank	Percentile
Total Population	# 5	99th
Population Density	# 68	90th
Median Household Income	# 380	45th
Housing Affordability Index	# 131	19th
Per Capita Income	# 219	68th
Diversity Index	# 105	85th

Richmond, VA Profile: Facts & Data

Richmond, Virginia - Basic Facts

Richmond, VA Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Richmond, VA - Peer Comparisons by Rank and Percentile

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