Median Home PriceBETTER
$355,756.62
Median RentBETTER
$1,578.37/mo
Price-to-Rent Ratio
18.8
Property Tax RateTIE
0.82%
Price Change (1Y)
+0.2%
Price Change (5Y)
+0.9%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$246,961
Median Home Price
$411,608.02
Median Rent
$1,998.57/mo
Price-to-Rent RatioBETTER
17.2
Property Tax RateTIE
0.82%
Price Change (1Y)BETTER
+2.1%
Price Change (5Y)BETTER
+10.3%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$182,181
Key Differences
Home Prices
Richmond's median home price of $355,756.62 is lower than Virginia Beach's $411,608.02 by 14%.
Monthly Rent
Renting in Richmond costs $1,578.37/mo compared to $1,998.57/mo in Virginia Beach—a difference of $420.2/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.