Richmond apartment prices a magnet for DC residents moving south
Nearly half of all searches for apartments in Richmond are coming from people outside of the area — and most of those searches are coming from folks in Washington, D.C.
- An influx of new residents means existing Richmonders will see prices continue to climb as inventory shrinks even further.
Driving the news: Apartment List's renter migration report shows Richmond ranks fifth in the nation for cities with the highest percentage of apartment searching coming from outside the city.
By the numbers: 47.6% of Richmond apartment searches are coming from outside of the metro area. Of those searches:
- 22% came from D.C.
- 21% came from Virginia Beach.
- 12% came from Baltimore.
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