Downtown Richmond, VA Demographics & Market Data
The Many Faces That Make Up Downtown Richmond, VA
Downtown Richmond's growth signals a dynamic and vibrant downtown, one that not only has a working population in the daytime but also activity throughout the day and nighttime.
Downtown Richmond's growth signals a dynamic and vibrant downtown, one that not only has a working population in the daytime but also activity throughout the day and nighttime. It maintains a unique identity and leverages its popularity among young adults to be one of the fastest growing downtowns over the past two decades.*
Downtown Richmond, VA Demographics
Population*
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21,600 total residential population of Richmond, VA in 2022
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120% growth puts Richmond in the top echelons of downtown residential growth among its peers (2000-2022)
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6th ranked in population growth of all IDA study downtowns (2000-2022)
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9.4% of the city’s total population (residential numbers include students who live off-campus downtown but exclude anyone living in group quarters such as dorms)
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3.2 square miles downtown absorbed 22% of all of the city’s population growth from 2010-2020
Age*
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66% ages 18-34
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15% ages 50+
Diversity* (according to American Community Survey ACS data)
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52% White
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30% Black
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6% Asian and Pacific Islander
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4% Hispanic or Latino
Downtown Richmond, VA Market Data
Income*
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14% high-income households (over $100k)
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41% middle-income households ($40K -$100K)
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$46,489 median household income
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21% lower-income households ($20K - $40K)
Education*
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66% of downtown’s residents over 25 yrs. old have a post-secondary degree education
Employment/Jobs*
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76,650 downtown workers
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50% of all citywide employment
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9% growth in employment from 2002-2019
Commute*
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6% transit ridership for their commute
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17% walking for their commute
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67% driving for their commute
