Matrix Multifamily Richmond Report-October 2023 November 01, 2023

Richmond Endures

Fundamentals slowed in line with national trends, but rents rose 2.4 percent Y-o-Y, 90 basis points more than the U.S. overall, to an average of $1,506. Completions slowed but accounted for 1.3 percent of existing stock, slightly above the nation.