Airbnb Market Analytics, Statistics and Data in Richmond, Virginia, United States
Last updated: 2025-01-31
Looking to make more money with hosting or rental arbitraging Airbnbs, short-term rentals, vacation rentals in Richmond? AirROI have just the data insights! Over the last twelve months from February 2024 to January 2025, we've uncovered key trends and opportunities that successful hosts are leveraging in Richmond:
How much do Airbnb hosts make on average per month in Richmond?
The short-term rental market in Richmond shows distinct revenue patterns across different property tiers. Our analysis reveals that successful properties combine strategic pricing with quality management to maximize earnings potential. Market data demonstrates clear revenue differentiation among properties:
- Typical properties (median) earn $2,527 per month
- Strong performing properties (top 25%) make $3,813 or more
- Best-in-class properties (top 10%) achieve $5,498+ monthly
- Entry-level properties (bottom 25%) typically earn around $1,489
Revenue Variations by Month
Occupancy Rates Throughout the Year in Richmond
The market in Richmond shows distinct occupancy patterns influenced by seasonal trends and local dynamics. Properties that maintain high guest satisfaction scores and implement strategic pricing consistently achieve stronger occupancy rates. Current market data shows:
- Typical properties (median) maintain 57% occupancy rates
- Strong performing properties (top 25%) achieve 76% or higher
- Best-in-class properties (top 10%) reach 88%+occupancy
- Entry-level properties (bottom 25%) average around 35%
Occupancy Variations by Month
Average Daily Rates Seasonal Trends in Richmond
Daily rates in Richmond vary based on seasonality, property quality, and market dynamics. Properties that effectively balance competitive pricing with strong amenities typically command higher rates. Market analysis shows the following rate structure:
- Typical properties (median) generate $129 per night
- Strong performing properties (top 25%) secure $182 or more
- Best-in-class properties (top 10%) pull in $257+ per night
- Entry-level properties (bottom 25%) earn around $88
Daily Rate Variations by Month
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Seasonality patterns in Richmond
Peak Season (June, October, May)
- Revenue peaks at $3455.33 per month
- Occupancy rates reach 61.55%
- Daily rates average $165.02
Shoulder Season
- Revenue averages $2972.56 per month
- Occupancy maintains 54.87%
- Daily rates hold at $151.76
Low Season (September, February, January)
- Revenue drops to $2301.42 per month
- Occupancy decreases to 45.81%
- Daily rates adjust to $139.87
Is it still profitable to do Airbnb in Richmond in 2025?
Yes! Richmond demonstrates moderate seasonality with good off-peak opportunities, featuring a healthy occupancy rate of 55% and strong monthly revenue averaging $2973 and As a mature market with 996 active listings, there's strong demand despite the competition. There's also room for profit through rental arbitrage strategies, if you can identify competitively priced properties. To maximize your return on investment, consider employing the following strategies:
Peak Season Strategy
- Implement premium seasonal pricing strategies
- Set longer minimum stay requirements during high-demand periods
- Enforce stricter cancellation policies
Shoulder Season Strategy
- Maintain competitive market-based pricing
- Offer moderate-length stay incentives
- Target a mix of leisure and business travelers with flexible booking terms
- Focus on weekend getaway packages and mid-week business traveler promotions
Low Season Strategy
- Adjust pricing to remain competitive in the market
- Target different guest segments (business travelers, long-term stays, holiday visitors, event attendees, remote workers)
- Create targeted promotional campaigns to drive occupancy
Top Places to Start Airbnb in Richmond
| Area | Why Choose This Area | Key Attractions |
|---|---|---|
| The Fan District | Historic neighborhood known for its stunning architecture and vibrant atmosphere. It's popular with both tourists and locals, offering a mix of dining, shopping, and art. | Virginia Museum of Fine Arts, Byrd Theatre, Carytown, Monument Avenue, Scott's Addition Brewery District |
| Scott's Addition | A rapidly growing neighborhood known for its breweries and entertainment venues. It's highly attractive to younger demographics looking for a lively scene. | Scott's Addition breweries, The REAL Richmond tours, Brewery tours, Art galleries, Cultural events |
| Shockoe Bottom | Rich in history and nightlife, Shockoe Bottom is great for visitors interested in exploring Richmond's past while enjoying a vibrant bar scene. | Edgar Allan Poe Museum, Libby Hill Park, Canal Walk, Historic Maymont, Venu Restaurant |
| Church Hill | Beautiful views of the James River and a rich history. Church Hill is perfect for those looking for a quieter stay, yet still close to downtown attractions. | St. John's Church, Church Hill Historic District, Libby Hill Park, The Secret Garden, Richmond's Haunted History tours |
| Quickness Hill | An up-and-coming neighborhood that's becoming popular with young professionals and families. It has a friendly community vibe with local eateries. | Local parks, Community events, Family-friendly restaurants, Holistic wellness centers |
| Jackson Ward | Known for its significant African American history and vibrant culture. The area is ideal for travelers interested in arts and heritage. | The Black History Museum, The Hippodrome Theater, Virginia Union University, Local galleries and studios |
| Downtown Richmond | The heart of the city, offering business travelers proximity to office buildings, as well as tourists easy access to cultural attractions. | Richmond Coliseum, The National Theatre, Mesmerize Escape Room, James Center and Mall, Virginia State Capitol |
| Bellevue | A family-friendly area that is becoming increasingly popular among young families and visitors looking for a suburban feel with city convenience. | Local parks, Historic neighborhoods, Diverse dining options, Richmond Country Club |
Do you need a license for Airbnb in Richmond?
We recommend checking directly with Richmond's local government regarding short-term rental licensing requirements. Current market data shows limited licensing information (6% of listings), making it essential to verify current regulations before starting your Airbnb business.
Top Performing Airbnb Properties in Richmond
Grand 6BDs 4BA Historic Fan Home/parking & Fenced
Entire Place • 6 bedrooms
Grand Historic Fan Home/fully fenced/Carytown
Entire Place • 4 bedrooms
Spacious & Cozy, Best Loc,Walk 2 River & Festivals
Entire Place • 5 bedrooms
Historic Italianate Getaway
Entire Place • 5 bedrooms
Spacious Urban Retreat in Charming Fan District
Entire Place • 4 bedrooms
Two Modern Homes back to back
Entire Place • 9 bedrooms
Top Performing Professional Hosts in Richmond
| Host Name | Properties | Grossing Revenue | Stay Reviews | Avg Rating |
|---|---|---|---|---|
| James | 35 | $1,289,887 | 1319 | 4.87/5.0 |
| RVA Home Stays | 21 | $1,266,959 | 4082 | 4.90/5.0 |
| Mark | 27 | $697,436 | 7972 | 4.87/5.0 |
| Josh | 10 | $599,049 | 927 | 4.87/5.0 |
| Xianfeng | 12 | $533,547 | 2257 | 4.94/5.0 |
| Eugene | 16 | $448,448 | 1200 | 4.55/5.0 |
| Dain | 6 | $396,635 | 546 | 4.83/5.0 |
| Christian And Naomi | 6 | $323,245 | 636 | 4.91/5.0 |
| Catherine | 4 | $316,415 | 869 | 4.84/5.0 |
| Arturo | 3 | $298,758 | 155 | 4.91/5.0 |
Additional analytics on vacation rental, real estate, short term rental data in Richmond
AirROI also have other key metrics and comprehensive data for your vacation rental, real estate needs. Go explore the advanced metrics that can help you make informed decisions:
Room Type Distribution
Property Type Distribution
Key Insights
- Market dominated by entire home listings (84.2%), with house and apartment & condo properties comprising 91.7% of inventory
- Untapped potential in others, boutique & hotels, outdoor & mobile, unique stays segments (8.3% combined)
Room Capacity Distribution
Analysis of 996 properties in Richmond shows that 1 bedroom properties are most prevalent, making up 35.2% of the market. The market tends to favor smaller properties, with 1 bedroom and 2 bedrooms together representing 60.9% of all listings.
Key Insights
- Most common: 1 bedroom (35.2%)
- Least common: 5+ bedrooms (2.2%)
- Market concentration: 60.9% in top 2 sizes
- Market skew: Favors smaller properties
Guest Capacity Distribution
Analysis of 996 properties in Richmond reveals that 4 guests properties dominate the market, representing 22.6% of all listings. The average property accommodates 4.0 guests, with a clear trend towards larger guest capacities. Properties accommodating 4 guests and 2 guests make up 44.2% of the market.
Key Insights
- Most common capacity: 4 guests (22.6% of market)
- Least common capacity: 1 guest (1.3% of market)
- Average guest capacity: 4.0 guests per property
- Market concentration: 44.2% in top 2 capacity sizes
- Market segmentation: Predominantly larger guest capacities
Booking and Availability Patterns
Available Days Distribution
Booked Days Distribution
Among 996 properties in Richmond, the most common availability pattern is 91-180 days (34.9% of properties). For actual bookings, properties most frequently secure bookings for 181-270 days (34.3% of properties).
Key Insights
- Most common availability window: 91-180 days (34.9%)
- Most common booking duration: 181-270 days (34.3%)
- Properties with high availability (180+ days): 46.1%
- Properties with long-term bookings (180+ days): 55.4%
Minimum Stay Distributions
1 Night
343 listings
38.6% of total
2 Nights
301 listings
33.9% of total
3 Nights
67 listings
7.5% of total
4-6 Nights
34 listings
3.8% of total
7-29 Nights
53 listings
6% of total
30+ Nights
91 listings
10.2% of total
Key Insights
- Short stays (1-2 nights) dominate the market at 72.5%
- Mid-length stays (4-6 nights) represent 3.8% of listings
- Monthly+ stays (10.2%) suggest a stable extended-stay market
- High market flexibility with 80.0% accepting 3 nights or less
Recommendations
- Set minimum stays between 2-3 nights to align with market standards
- Adjust minimum stays seasonally based on demand patterns
- Consider monthly stay discounts to capture the growing extended-stay market
- Implement different minimum stays for weekends vs. weekdays
Cancellation Policy Distribution
Super Strict 60 Days
1 listings
0.1% of total
Flexible
194 listings
21.8% of total
Moderate
324 listings
36.5% of total
Firm
194 listings
21.8% of total
Strict
175 listings
19.7% of total
Key Insights
- Moderate is the preferred policy at 36.5% of listings
- The market shows a balanced distribution between guest-friendly (58.3%) and strict (41.5%) policies
- Strong market consensus around Moderate policies
- Super Strict 60 Days policies are least common at 0.1% of listings
Recommendations
- Market supports various policies - choose based on your property type and target guests
- Strong market preference for Moderate policies suggests this should be your baseline
- Consider generous cancellation terms as a competitive advantage
Booking Lead Time Trends
Key Insights
- Peak booking lead times occur in May, Jun, Mar, averaging 50 days
- Shortest booking windows are in Dec, Feb, Jan, averaging 33 days
- Spring shows the longest average booking window at 48 days, while Winter has the shortest at 33 days
Recommendations
- Implement dynamic pricing strategies for Spring bookings at least 48 days in advance
- Consider early bird discounts during Winter to encourage longer lead times
- Focus on last-minute booking promotions during Dec-Jan when lead times are shortest
Popular Airbnb Amenities in Richmond
Below is the distribution of amenities across listings in Richmond:
Traveler Demographics
Key Insights
- Domestic travelers make up 92.1% of total guests, indicating a dominant local market share.
- Primary international markets: DC (4.6%) and Canada (0.6%)
- English is the top language at 77.9%, followed by Spanish (13.3%)
- Notable demographic segment in <=1950s (Pre-1950s (Silent Gen)) at 6.2%
Recommendations
- Target marketing campaigns for Richmond and Washington markets
- Develop localized content for DC and Canada
- Prioritize English and Spanish language support
- Tailor experiences for Pre-1950s (Silent Gen) while maintaining broad age appeal
- Implement seasonal promotions aligned with key market travel patterns
Nearby Markets
Explore short-term rental performance in markets surrounding Richmond. These nearby markets offer diverse opportunities for property investors and hosts:
| Market | Properties | Monthly Revenue | Daily Rate | Occupancy |
|---|---|---|---|---|
| Mayo | 13 | $6,087 | $438.91 | 52% |
| Chester | 18 | $5,821 | $494.88 | 42% |
| Arundel on the Bay | 24 | $5,741 | $527.94 | 40% |
| Piney Point | 15 | $5,727 | $387.92 | 43% |
| Castleton | 10 | $5,702 | $506.43 | 38% |
| Stevensville | 68 | $5,542 | $505.75 | 42% |
| Macon | 37 | $5,295 | $495.22 | 40% |
| Easton | 45 | $5,262 | $677.92 | 38% |
| Bentonville | 22 | $5,188 | $392.11 | 51% |
| Skyland Estates | 13 | $5,155 | $253.30 | 63% |
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