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Richmond, VA
Challenging To Investors
Local STR Agent
Local STR Agent

Short-term rentals ARE ALLOWED in Richmond, VA under specific regulations that were adopted by City Council on September 25, 2023, through Ordinance No. 2023-235. Richmond permits short-term rentals as both principal and accessory uses to dwelling units or permitted accessory dwelling units, with comprehensive requirements designed to balance economic opportunities with community safety and neighborhood preservation.
Richmond hosts earn a median $33,397/year with $163 ADR and 72% occupancy.
Top performers pull in $46,609+ per year.
See the full Richmond market breakdownShort-Term Rental Owner Affidavit
Dimensioned Floor Plan including:
Proof of Primary Residency
This guide provides comprehensive information for short-term rental investors considering the Richmond market. The city's regulatory framework is well-established with clear requirements, reasonable operational limits, and defined processes for both application and enforcement. The $600 biennial fee and one STR per lot limit in residential areas represent moderate barriers to entry while maintaining neighborhood character. Investors should ensure full compliance with all safety requirements and consider the operational benefits of no parking requirements and unlimited nightly operation capacity.
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Richmond is the capital of Virginia and an independent city, geographically separate from any county but bordered by Henrico County to the west and north and Chesterfield County to the south. The city proper is home to roughly 230,000 residents, while the broader metro area counts around 1.3 million people. Situated on the James River in east-central Virginia, Richmond has a layered character shaped by more than four centuries of history, a thriving craft-beer and culinary scene, and an unexpected outdoor recreation culture centered on the rapids running through the heart of downtown. It is best known as a cornerstone of Civil War and early American history, and it serves as a natural gateway to Virginia's historic triangle to the east and the Blue Ridge Mountains and Shenandoah Valley to the west. The nearest major city is Washington, D.C., approximately 100 miles to the north along Interstate 95.
The Virginia State Capitol, designed by Thomas Jefferson and completed in 1788, anchors downtown and doubles as both a working seat of government and a museum of early American political history. Visitors can stand in the chamber where figures like Patrick Henry, John Marshall, and Robert E. Lee once debated, and the building is just a short walk from the Shockoe Bottom and Shockoe Slip dining districts. The capitol sits roughly in the center of the city, easily reachable from most neighborhoods within a 10- to 15-minute drive.
Just across the James River, Belle Isle offers an unexpectedly wild escape in the middle of the city. The island was once a Civil War-era prison camp and later a site of industrial activity, but today it is a wooded park threaded with trails and surrounded by some of the only Class III and IV urban rapids in the country. Access is free, and the riverfront trails connect Belle Isle to other parks and pedestrian bridges spanning the James.
A few miles west of downtown, the Virginia Museum of Fine Arts is widely regarded as one of the finest general art museums in the southeastern United States. The collection spans ancient to contemporary works, including the largest Fabergé collection outside of Russia, and admission to the permanent galleries is free. The museum anchors the Museum District and is roughly a 10-minute drive from the city center.
About an hour to the east, Colonial Williamsburg extends Richmond's appeal well beyond the city limits. This living-history attraction recreates an 18th-century colonial capital with costumed interpreters, restored buildings, and artisan demonstrations, making it a popular pairing for travelers who use Richmond as a base. Further west, the foothills of the Blue Ridge and the entrance to Shenandoah National Park can be reached in under two hours.
Richmond works especially well as a short-term-rental market because it offers so many distinct experiences in close proximity. Guests can spend mornings exploring the State Capitol or strolling along the James, afternoons sampling the food scene in Carytown or Scott's Addition, and weekends taking day trips to colonial sites, amusement parks, or mountain hikes. That mix of urban energy, deep history, and easy access to nearly every corner of Virginia keeps demand steady across business, leisure, and shoulder seasons.
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