Richmond FHA Loan Rates, Closing Costs & Stats

RICHMOND, VA

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Richmond's 192 lenders originated 4,491 FHA loans during 2024. The total origination value was $1,414,965,000, with an average FHA loan value of $315,067.

    Richmond FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Richmond averaged 6.55% for the week of 2025-05-23, compared to the national average (all FHA variants) of 6.612% for the same period.

    Richmond's average FHA mortgage closing costs are $8,819.

    The average rate for the prior week (2025-05-16) was 6.79% and one month ago for the week of 2025-04-18, the average rate was 6.61%.

    The average rate one year ago was 6.98%.

    For refis of the same type during the week of 2025-05-23, the average rate was 6.46%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Richmond FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Richmond level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 346 6.21% $12,716
    UNITED WHOLESALE MORTGAGE, LLC 308 6.05% $14,640
    NVR Mortgage Finance, Inc. 206 6.19% $12,221
    MOVEMENT MORTGAGE, LLC 202 6.43% $13,402
    FREEDOM MORTGAGE CORPORATION 187 6.34% $13,397
    C & F Mortgage Corporation 149 6.47% $11,768
    Virginia Credit Union, Inc. 124 6.37% $9,499
    Alcova Mortgage LLC 120 6.51% $8,980
    First Heritage Mortgage, LLC 103 6.12% $13,455
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 88 6.53% $13,098
    PENNYMAC LOAN SERVICES, LLC 84 5.96% $11,991
    NFM, INC. 78 6.66% $14,869
    United Bank 77 6.27% $11,736
    Presidential Bank, FSB 72 6.57% $11,113
    CAPITAL CENTER, L.L.C. 72 6.20% $6,610
    AMERICAN FINANCIAL NETWORK, INC. 71 6.36% $13,275
    LOANDEPOT.COM, LLC 69 6.29% $14,374
    SOUTHERN TRUST MORTGAGE, LLC 67 6.69% $14,274
    NEWREZ LLC 59 6.38% $12,548
    DHI MORTGAGE COMPANY, LTD. 59 5.02% $13,574
    Prosperity Home Mortgage, LLC 58 6.16% $12,950
    GUILD MORTGAGE COMPANY 57 6.55% $12,176
    TIDEWATER MORTGAGE SERVICES, INC. 56 5.98% $14,702
    Mr. Cooper ( Nationstar Mortgage ) 50 6.52% $15,662
    VILLAGE BANK MORTGAGE CORPORATION 44 6.38% $8,104
    BROKER SOLUTIONS, INC. 41 6.88% $13,174
    MUTUAL OF OMAHA MORTGAGE, INC. 35 6.47% $16,962
    Integrity Home Mortgage Corp 33 6.54% $13,128
    Towne First Mortgage, LLC 33 6.34% $13,369
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 32 6.56% $11,326
    Carrington Mortgage Services, LLC 32 6.20% $14,033
    Truist 31 6.18% $14,233
    Nations Lending Corporation 30 6.20% $11,661
    Atlantic Coast Mortgage, LLC 30 6.41% $11,789
    SUN WEST MORTGAGE COMPANY, INC. 28 5.83% $15,911
    City Lending Inc. 27 7.05% $16,425
    VILLAGE CAPITAL MORTGAGE 27 6.44% $10,419
    CMG MORTGAGE, INC. 27 6.39% $12,367
    EAGLE HOME MORTGAGE, LLC 25 5.37% $16,321
    CROSSCOUNTRY MORTGAGE, LLC 23 6.36% $13,169
    AMERISAVE MORTGAGE CORPORATION 23 6.28% $14,791
    SWBC MORTGAGE CORPORATION 21 6.41% $9,399
    LOANPAL, LLC 21 5.70% $11,908
    Towne Bank 20 6.19% $14,622
    Flagstar Bank, FSB 20 6.03% $12,111
    PRIMELENDING, A PLAINSCAPITAL COMPANY 19 6.59% $12,153
    MILEND, INC. 18 6.16% $15,207
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 18 6.57% $13,167
    PLANET HOME LENDING, LLC 16 6.34% $9,791
    FIRST HOME MORTGAGE CORPORATION 16 6.65% $12,542
    Atlantic Union Bank 15 6.21% $12,030
    RELIANCE FIRST CAPITAL, LLC 15 6.48% $12,175
    C&F Select LLC 14 6.63% $14,007
    Equity Prime Mortgage LLC 14 6.72% $13,453
    Lakeview Community Capital, LLC 13 6.42% $9,548
    AMERICAN FINANCIAL RESOURCES, INC. 13 6.21% $16,953
    CALCON MUTUAL MORTGAGE LLC 12 6.16% $14,695
    PLAZA HOME MORTGAGE, INC. 12 6.73% $16,873
    LAKEVIEW LOAN SERVICING, LLC 12 6.29% $9,005
    HOMESIDE FINANCIAL, LLC 12 6.30% $15,600
    The Federal Savings Bank 11 6.74% $14,959
    Plains Commerce Bank 11 6.59% $14,860
    Ameris Bank 11 6.74% $11,148
    U.S. Bank 11 6.27% $13,917
    TOWNE MORTGAGE COMPANY 11 6.62% $12,512
    MID AMERICA MORTGAGE, INC. 10 6.83% $17,552
    AFFORDABLE MORTGAGE ADVISORS, LLC. 9 6.63% $11,351
    Fulton Bank 9 6.33% $11,101
    Waterstone Mortgage Corporation 8 6.30% $12,219
    GENEVA FINANCIAL, LLC 8 7.42% $12,594
    M&T Bank 8 6.41% $10,143
    Home Mortgage Alliance Corp 8 6.67% $11,660
    AmeriHome Mortgage Company, LLC 8 6.41% $7,735
    Mortgage Research Center, LLC 7 6.45% $7,174
    CARDINAL FINANCIAL 7 6.54% $13,391
    Century Mortgage Company DBA Century Lending Company 7 6.20% $12,420
    DAS Acquisition Company, LLC 7 7.04% $14,620
    South State Bank 7 5.89% $11,522
    EMBRACE HOME LOANS, INC. 6 6.44% $13,347
    PANORAMA MORTGAGE GROUP, LLC 6 6.90% $15,608
    Loan Simple, Inc. 6 7.10% $14,143
    Wells Fargo Bank 6 6.88% $9,113
    MEMBER ADVANTAGE MORTGAGE, LLC 6 6.23% $9,254
    UNION HOME MORTGAGE CORP. 5 6.23% $13,274
    First Federal Bank 5 6.10% $11,139
    MORTGAGE SOLUTIONS OF COLORADO, LLC 5 6.95% $13,220
    FIRST COMMUNITY MORTGAGE, INC. 5 6.62% $12,338
    PHH Mortgage Corporation 5 6.25% $11,509
    Paramount Residential Mortgage Group, Inc. 5 6.50% $15,482
    HOMEBRIDGE FINANCIAL SERVICES, INC. 5 6.45% $6,900
    Tidewater Home Funding, LLC 5 6.28% $10,649
    AMERICAN FINANCING CORPORATION 5 5.93% $13,939
    HOMESPIRE MORTGAGE CORPORATION 5 6.63% $11,291
    MASON MCDUFFIE MORTGAGE CORPORATION 5 6.50% $11,502
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 6.84% $16,692
    T2 FINANCIAL LLC 4 6.69% $13,221
    ALLIED MORTGAGE GROUP, INC. 4 6.34% $10,620
    FIRST SAVINGS MORTGAGE CORPORATION 4 6.03% $14,080
    MLD MORTGAGE INC. 4 5.94% $14,478
    US MORTGAGE CORPORATION 4 6.31% $10,964
    GUARANTEED RATE, INC. 4 6.50% $12,520
    JPMorgan Chase Bank 4 5.97% $8,032
    SeaTrust Mortgage Company 4 6.13% $13,820
    ZILLOW HOME LOANS, LLC 4 6.09% $11,974
    TOP FLITE FINANCIAL, INC. 4 6.34% $19,957
    OCMBC, INC. 4 6.53% $14,929
    INTERCOASTAL MORTGAGE COMPANY 4 6.03% $11,026
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 6.96% $11,589
    GEO-CORP, INC. 3 7.50% $18,078
    SUMMIT FUNDING, INC. 3 6.33% $12,145
    FIDELITY DIRECT MORTGAGE, LLC 3 6.63% $15,812
    Encompass Lending Group, LP 3 7.21% $13,655
    SUCCESS MORTGAGE PARTNERS, INC. 3 5.79% $14,922
    LEGEND LENDING CORPORATION 3 6.46% $18,893
    Towne Mortgage, LLC 3 6.13% $15,561
    Cornerstone First Mortgage, Inc 3 6.38% $22,137
    Strong Home Mortgage, LLC 3 6.04% $10,616
    ROSS MORTGAGE CORPORATION 3 6.63% $12,430
    V.I.P. MORTGAGE, INC. 3 6.08% $12,447
    BAY EQUITY LLC 3 7.00% $11,776
    Princeton Mortgage Corporation 3 6.54% $14,329
    MYCUMORTGAGE, LLC 3 7.21% $8,475
    RANLIFE, INC. 3 5.33% $15,359
    ROYAL UNITED MORTGAGE LLC 3 6.38% $11,448
    RESIDENTIAL BANCORP 3 6.12% $12,430
    GSF Mortgage Corporation 3 5.92% $15,876
    LANGLEY 2 6.69% $9,050
    Advance Financial Group, LLC 2 6.25% $7,084
    American Mortgage & Equity Consultants, Inc. 2 6.69% $18,516
    Barrington Bank & Trust Company, N.A. 2 6.25% $19,553
    Chickasaw Community Bank 2 6.31% $13,120
    Citizens Bank 2 6.19% $10,908
    DATA MORTGAGE, INC. 2 6.88% $10,515
    EMM LOANS LLC 2 6.25% $12,297
    EQUITY RESOURCES, INC. 2 6.38% $12,704
    FIRST ALLIANCE HOME MORTGAGE, LLC 2 5.69% $18,707
    First National Bank of Pennsylvania 2 6.00% $12,209
    HOMEAMERICAN MORTGAGE CORPORATION 2 5.37% $10,766
    JMAC LENDING, INC. 2 5.94% $17,136
    LOANLEADERS OF AMERICA, INC. 2 5.94% $12,144
    Magnolia Bank 2 6.12% $12,304
    Northpointe Bank 2 5.94% $7,525
    PREMIA MORTGAGE, LLC 2 6.00% $10,432
    RUOFF MORTGAGE COMPANY, INC. 2 5.94% $10,024
    Sierra Pacific Mortgage Company, Inc. 2 6.19% $13,938
    The Freedom Bank of Virginia 2 6.19% $11,600
    OCEANSIDE MORTGAGE COMPANY 1 5.99% $9,182
    NETWORK CAPITAL FUNDING CORPORATION 1 7.13% $8,547
    Armed Forces Bank 1 6.13% $9,219
    S1L, Inc. 1 6.25% $8,620
    NATION ONE MORTGAGE CORPORATION 1 6.25% $11,830
    American Security Mortgage Corp. 1 6.25% $9,633
    SIRVA MORTGAGE, INC. 1 7.25% $7,279
    MY MORTGAGE, INC. 1 5.75% $5,399
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 7.25% $5,070
    MORIA DEVELOPMENT, INC. 1 6.88% $6,970
    Meridian Bank Corporation 1 6.13% $16,298
    Acre Mortgage and Financial Inc 1 7.00% $10,561
    JAMS-01, INC. 1 6.25% $10,145
    ISERVE RESIDENTIAL LENDING, LLC 1 8.25% $10,360
    INTELLILOAN, INC. 1 5.75% $5,771
    Hometown Equity Mortgage, LLC 1 5.63% $9,407
    Texana Bank 1 5.50% $16,144
    The Dart Bank 1 6.25% $11,161
    GoPrime Mortgage, Inc. 1 6.25% $10,343
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.75% $13,957
    The Huntington National Bank 1 7.00% $13,223
    FREEDOM FIRST 1 6.00% $13,172
    FIRST COLONY MORTGAGE CORPORATION 1 5.75% $10,190
    TJC Mortgage, Inc. 1 7.13% $16,073
    FBC MORTGAGE, LLC 1 5.88% $9,699
    EVERETT FINANCIAL, INC. 1 6.25% $21,365
    EVANSVILLE TEACHERS 1 6.63% $10,822
    Dollar Bank, Federal Savings Bank 1 6.75% $13,889
    DIRECT MORTGAGE LOANS, LLC 1 6.88% $16,468
    Towne Mortgage of the Carolinas, LLC 1 5.75% $11,204
    CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 6.13% $9,414
    Commerce Home Mortgage, Inc. 1 6.63% $9,482
    CityWorth Mortgage LLC 1 6.50% $18,856
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.63% $13,065
    CHURCHILL MORTGAGE CORPORATION 1 6.25% $10,377
    Capital Bank 1 7.13% $9,989
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 5.63% $13,860
    VAN DYK MORTGAGE CORPORATION 1 6.25% $2,635
    Vellum Mortgage, Inc. 1 6.50% $12,991
    Blue Ridge Bank 1 6.13% $13,092
    BETTER MORTGAGE CORPORATION 1 5.63% $10,089
    BECKAM FUNDING CORP. 1 7.25% $27,739
    Bank of America 1 6.25% $14,182
    PNC Bank 1 6.25% $7,065
    PENTAGON FEDERAL CREDIT UNION 1 5.25% $11,061
    ONY GLO, INC. 1 6.13% $13,800

    The top Richmond FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 346 FHA loans originated. Their average total fees are $12,716, which is $1,924 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Richmond FHA lenders (with over 10 loans originated) are CAPITAL CENTER, L.L.C. ($6,610), VILLAGE BANK MORTGAGE CORPORATION ($8,104), Alcova Mortgage LLC ($8,980), LAKEVIEW LOAN SERVICING, LLC ($9,005) and SWBC MORTGAGE CORPORATION ($9,399).

    The lowest rate Richmond FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.02%), EAGLE HOME MORTGAGE, LLC (5.37%), LOANPAL, LLC (5.70%), SUN WEST MORTGAGE COMPANY, INC. (5.83%) and PENNYMAC LOAN SERVICES, LLC (5.96%).

    Richmond FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    RICHMOND, VA AMELIA 2009 $535,900 $686,050 $829,250 $1,030,600
    RICHMOND, VA CHARLES CITY 2009 $535,900 $686,050 $829,250 $1,030,600
    RICHMOND, VA CHESTERFIELD 2009 $535,900 $686,050 $829,250 $1,030,600
    RICHMOND, VA DINWIDDIE 2009 $535,900 $686,050 $829,250 $1,030,600
    RICHMOND, VA GOOCHLAND 2009 $535,900 $686,050 $829,250 $1,030,600
    RICHMOND, VA HANOVER 2009 $535,900 $686,050 $829,250 $1,030,600
    RICHMOND, VA HENRICO 2009 $535,900 $686,050 $829,250 $1,030,600
    RICHMOND, VA KING AND QUEEN 2020 $535,900 $686,050 $829,250 $1,030,600
    RICHMOND, VA KING WILLIAM 2009 $535,900 $686,050 $829,250 $1,030,600
    RICHMOND, VA NEW KENT 2009 $535,900 $686,050 $829,250 $1,030,600
    RICHMOND, VA POWHATAN 2009 $535,900 $686,050 $829,250 $1,030,600
    RICHMOND, VA PRINCE GEORGE 2009 $535,900 $686,050 $829,250 $1,030,600
    RICHMOND, VA SUSSEX 2009 $535,900 $686,050 $829,250 $1,030,600
    RICHMOND, VA COLONIAL HEIGHT 2009 $535,900 $686,050 $829,250 $1,030,600
    RICHMOND, VA HOPEWELL CITY 2009 $535,900 $686,050 $829,250 $1,030,600
    RICHMOND, VA PETERSBURG CITY 2009 $535,900 $686,050 $829,250 $1,030,600
    RICHMOND, VA RICHMOND CITY 2009 $535,900 $686,050 $829,250 $1,030,600
    RICHMOND, VA AMELIA 2023 $546,250 $699,300 $845,300 $1,050,500
    RICHMOND, VA CHARLES CITY 2023 $546,250 $699,300 $845,300 $1,050,500
    RICHMOND, VA CHESTERFIELD 2023 $546,250 $699,300 $845,300 $1,050,500
    RICHMOND, VA DINWIDDIE 2023 $546,250 $699,300 $845,300 $1,050,500
    RICHMOND, VA GOOCHLAND 2023 $546,250 $699,300 $845,300 $1,050,500
    RICHMOND, VA HANOVER 2023 $546,250 $699,300 $845,300 $1,050,500
    RICHMOND, VA HENRICO 2023 $546,250 $699,300 $845,300 $1,050,500
    RICHMOND, VA KING AND QUEEN 2023 $546,250 $699,300 $845,300 $1,050,500
    RICHMOND, VA KING WILLIAM 2023 $546,250 $699,300 $845,300 $1,050,500
    RICHMOND, VA NEW KENT 2023 $546,250 $699,300 $845,300 $1,050,500
    RICHMOND, VA POWHATAN 2023 $546,250 $699,300 $845,300 $1,050,500
    RICHMOND, VA PRINCE GEORGE 2023 $546,250 $699,300 $845,300 $1,050,500
    RICHMOND, VA SUSSEX 2023 $546,250 $699,300 $845,300 $1,050,500
    RICHMOND, VA COLONIAL HEIGHT 2023 $546,250 $699,300 $845,300 $1,050,500
    RICHMOND, VA HOPEWELL CITY 2023 $546,250 $699,300 $845,300 $1,050,500
    RICHMOND, VA PETERSBURG CITY 2023 $546,250 $699,300 $845,300 $1,050,500
    RICHMOND, VA RICHMOND CITY 2023 $546,250 $699,300 $845,300 $1,050,500

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Richmond (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $290,306 (8.0%) $344,498 (7.0%) 1.08 3,178
    2018-02-01 $299,970 (8.1%) $354,785 (6.0%) 1.09 3,144
    2018-03-01 $314,625 (8.5%) $366,208 (5.7%) 1.10 3,247
    2018-04-01 $323,239 (8.7%) $375,492 (7.6%) 1.10 3,404
    2018-05-01 $324,975 (8.3%) $382,454 (7.3%) 1.09 3,663
    2018-06-01 $319,990 (6.7%) $379,835 (7.2%) 1.07 3,940
    2018-07-01 $324,700 (8.6%) $379,715 (8.3%) 1.08 4,075
    2018-08-01 $314,622 (7.3%) $371,634 (7.7%) 1.05 4,217
    2018-09-01 $309,900 (4.4%) $367,402 (5.1%) 1.04 4,280
    2018-10-01 $304,950 (2.6%) $360,806 (2.7%) 1.03 4,329
    2018-11-01 $308,024 (4.4%) $364,646 (3.8%) 1.04 4,228
    2018-12-01 $309,950 (6.9%) $364,039 (4.7%) 1.07 3,821
    2019-01-01 $309,950 (6.8%) $359,273 (4.3%) 1.07 3,420
    2019-02-01 $319,500 (6.5%) $369,356 (4.1%) 1.08 3,361
    2019-03-01 $327,114 (4.0%) $376,429 (2.8%) 1.07 3,458
    2019-04-01 $334,500 (3.5%) $384,241 (2.3%) 1.06 3,588
    2019-05-01 $337,988 (4.0%) $390,929 (2.2%) 1.06 3,779
    2019-06-01 $335,000 (4.7%) $389,974 (2.7%) 1.05 3,875
    2019-07-01 $332,450 (2.4%) $386,136 (1.7%) 1.04 3,988
    2019-08-01 $326,182 (3.7%) $379,491 (2.1%) 1.03 4,069
    2019-09-01 $322,705 (4.1%) $377,916 (2.9%) 1.03 4,118
    2019-10-01 $319,975 (4.9%) $375,858 (4.2%) 1.03 4,181
    2019-11-01 $315,900 (2.6%) $371,921 (2.0%) 1.04 3,959
    2019-12-01 $322,698 (4.1%) $373,853 (2.7%) 1.08 3,468
    2020-01-01 $324,950 (4.8%) $373,865 (4.1%) 1.09 3,068
    2020-02-01 $332,065 (3.9%) $389,115 (5.4%) 1.09 2,900
    2020-03-01 $346,462 (5.9%) $406,699 (8.0%) 1.09 3,021
    2020-04-01 $349,454 (4.5%) $405,239 (5.5%) 1.09 3,215
    2020-05-01 $356,573 (5.5%) $414,592 (6.1%) 1.08 3,085
    2020-06-01 $359,495 (7.3%) $420,095 (7.7%) 1.06 2,742
    2020-07-01 $358,914 (8.0%) $420,939 (9.0%) 1.04 2,530
    2020-08-01 $359,900 (10.3%) $424,220 (11.8%) 1.03 2,325
    2020-09-01 $356,423 (10.5%) $423,226 (12.0%) 1.02 2,260
    2020-10-01 $360,000 (12.5%) $428,469 (14.0%) 1.03 2,198
    2020-11-01 $362,425 (14.7%) $429,055 (15.4%) 1.06 2,086
    2020-12-01 $364,975 (13.1%) $430,151 (15.1%) 1.09 1,858
    2021-01-01 $368,995 (13.6%) $429,757 (15.0%) 1.10 1,594
    2021-02-01 $370,422 (11.6%) $434,443 (11.7%) 1.08 1,421
    2021-03-01 $369,750 (6.7%) $438,656 (7.9%) 1.05 1,421
    2021-04-01 $366,973 (5.0%) $433,418 (7.0%) 0.99 1,441
    2021-05-01 $357,991 (0.4%) $426,121 (2.8%) 0.95 1,536
    2021-06-01 $350,001 (-2.6%) $425,637 (1.3%) 0.92 1,663
    2021-07-01 $349,000 (-2.8%) $418,632 (-0.6%) 0.92 1,795
    2021-08-01 $349,950 (-2.8%) $420,769 (-0.8%) 0.93 1,837
    2021-09-01 $349,950 (-1.8%) $421,469 (-0.4%) 0.93 1,811
    2021-10-01 $350,000 (-2.8%) $419,803 (-2.0%) 0.93 1,700
    2021-11-01 $350,800 (-3.2%) $422,452 (-1.5%) 0.94 1,571
    2021-12-01 $353,675 (-3.1%) $425,378 (-1.1%) 0.96 1,263
    2022-01-01 $367,252 (-0.5%) $441,049 (2.6%) 0.99 1,035
    2022-02-01 $367,495 (-0.8%) $443,725 (2.1%) 0.96 935
    2022-03-01 $359,778 (-2.7%) $437,655 (-0.2%) 0.90 974
    2022-04-01 $371,925 (1.4%) $450,446 (3.9%) 0.89 1,082
    2022-05-01 $381,801 (6.7%) $460,840 (8.2%) 0.87 1,244
    2022-06-01 $394,823 (12.8%) $468,128 (10.0%) 0.88 1,506
    2022-07-01 $393,365 (12.7%) $458,758 (9.6%) 0.89 1,774
    2022-08-01 $386,853 (10.6%) $463,235 (10.1%) 0.89 1,793
    2022-09-01 $381,925 (9.1%) $458,347 (8.8%) 0.89 1,848
    2022-10-01 $379,970 (8.6%) $460,089 (9.6%) 0.89 1,920
    2022-11-01 $379,913 (8.3%) $450,912 (6.7%) 0.91 2,026
    2022-12-01 $378,088 (6.9%) $449,078 (5.6%) 0.93 1,874
    2023-01-01 $381,169 (3.8%) $449,693 (2.0%) 0.94 1,651
    2023-02-01 $392,500 (6.8%) $464,029 (4.6%) 0.95 1,495
    2023-03-01 $402,445 (11.9%) $476,545 (8.9%) 0.95 1,482
    2023-04-01 $424,950 (14.3%) $502,424 (11.5%) 0.99 1,482
    2023-05-01 $441,200 (15.6%) $517,954 (12.4%) 1.00 1,497
    2023-06-01 $442,258 (12.0%) $522,251 (11.6%) 0.99 1,545
    2023-07-01 $439,900 (11.8%) $518,132 (12.9%) 1.00 1,593
    2023-08-01 $439,125 (13.5%) $507,473 (9.6%) 1.01 1,686
    2023-09-01 $439,450 (15.1%) $513,561 (12.1%) 1.02 1,842
    2023-10-01 $435,000 (14.5%) $518,506 (12.7%) 1.02 2,077
    2023-11-01 $442,270 (16.4%) $525,444 (16.5%) 1.05 2,058
    2023-12-01 $429,999 (13.7%) $511,200 (13.8%) 1.05 1,961
    2024-01-01 $442,970 (16.2%) $521,418 (16.0%) 1.08 1,725
    2024-02-01 $448,678 (14.3%) $528,085 (13.8%) 1.08 1,664
    2024-03-01 $450,000 (11.8%) $535,978 (12.5%) 1.06 1,612
    2024-04-01 $458,767 (8.0%) $544,481 (8.4%) 1.07 1,762
    2024-05-01 $465,000 (5.4%) $552,434 (6.7%) 1.06 2,021
    2024-06-01 $464,091 (4.9%) $553,400 (6.0%) 1.06 2,147
    2024-07-01 $459,365 (4.4%) $542,399 (4.7%) 1.05 2,212
    2024-08-01 $449,990 (2.5%) $533,575 (5.1%) 1.05 2,256
    2024-09-01 $442,475 (0.7%) $519,342 (1.1%) 1.04 2,348
    2024-10-01 $443,450 (1.9%) $519,926 (0.3%) 1.04 2,402
    2024-11-01 $429,900 (-2.8%) $507,186 (-3.5%) 1.03 2,446
    2024-12-01 $419,950 (-2.3%) $496,899 (-2.8%) 1.04 2,161
    2025-01-01 $421,225 (-4.9%) $495,419 (-5.0%) 1.05 1,957
    2025-02-01 $429,653 (-4.2%) $504,526 (-4.5%) 1.04 1,944
    2025-03-01 $444,900 (-1.1%) $518,691 (-3.2%) 1.05 1,967
    2025-04-01 $458,950 (0.0%) $538,194 (-1.2%) 1.06 2,125
    Richmond's median listing price for 2025-04-01 was $458,950, a difference of $183 (0.0%) versus the prior year and $14,050 versus the prior month.

    Richmond's median listing price comes in at 106% of the national average.

    Richmond's average listing price for 2025-04-01 was $538,194, a difference of $-6,287 (-1.2%) versus the prior year and $19,503 versus the prior month.

    For the 2025-04-01 period, Richmond had 2,125 MLS listings, a difference of 158 listings (8%) versus the prior month and 363 listings (21%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Richmond (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 68 days 2,179 sqft
    2018-02-01 55 days 2,211 sqft
    2018-03-01 46 days 2,255 sqft
    2018-04-01 45 days 2,294 sqft
    2018-05-01 43 days 2,345 sqft
    2018-06-01 45 days 2,324 sqft
    2018-07-01 49 days 2,304 sqft
    2018-08-01 50 days 2,249 sqft
    2018-09-01 52 days 2,227 sqft
    2018-10-01 55 days 2,195 sqft
    2018-11-01 53 days 2,202 sqft
    2018-12-01 63 days 2,200 sqft
    2019-01-01 66 days 2,185 sqft
    2019-02-01 56 days 2,208 sqft
    2019-03-01 46 days 2,242 sqft
    2019-04-01 42 days 2,272 sqft
    2019-05-01 44 days 2,293 sqft
    2019-06-01 46 days 2,287 sqft
    2019-07-01 50 days 2,271 sqft
    2019-08-01 50 days 2,238 sqft
    2019-09-01 50 days 2,219 sqft
    2019-10-01 50 days 2,203 sqft
    2019-11-01 52 days 2,187 sqft
    2019-12-01 64 days 2,191 sqft
    2020-01-01 68 days 2,200 sqft
    2020-02-01 53 days 2,209 sqft
    2020-03-01 40 days 2,269 sqft
    2020-04-01 44 days 2,280 sqft
    2020-05-01 54 days 2,297 sqft
    2020-06-01 59 days 2,291 sqft
    2020-07-01 55 days 2,253 sqft
    2020-08-01 60 days 2,244 sqft
    2020-09-01 53 days 2,205 sqft
    2020-10-01 53 days 2,201 sqft
    2020-11-01 58 days 2,187 sqft
    2020-12-01 57 days 2,178 sqft
    2021-01-01 53 days 2,125 sqft
    2021-02-01 48 days 2,088 sqft
    2021-03-01 43 days 2,075 sqft
    2021-04-01 40 days 2,082 sqft
    2021-05-01 39 days 2,043 sqft
    2021-06-01 41 days 2,030 sqft
    2021-07-01 39 days 1,979 sqft
    2021-08-01 40 days 2,009 sqft
    2021-09-01 45 days 1,959 sqft
    2021-10-01 51 days 1,964 sqft
    2021-11-01 57 days 1,951 sqft
    2021-12-01 51 days 1,960 sqft
    2022-01-01 71 days 1,997 sqft
    2022-02-01 36 days 1,980 sqft
    2022-03-01 31 days 1,907 sqft
    2022-04-01 32 days 1,927 sqft
    2022-05-01 31 days 1,992 sqft
    2022-06-01 31 days 2,019 sqft
    2022-07-01 35 days 2,000 sqft
    2022-08-01 38 days 1,994 sqft
    2022-09-01 43 days 1,967 sqft
    2022-10-01 40 days 1,962 sqft
    2022-11-01 43 days 1,951 sqft
    2022-12-01 53 days 1,925 sqft
    2023-01-01 59 days 1,937 sqft
    2023-02-01 52 days 1,983 sqft
    2023-03-01 41 days 2,029 sqft
    2023-04-01 38 days 2,066 sqft
    2023-05-01 40 days 2,100 sqft
    2023-06-01 40 days 2,098 sqft
    2023-07-01 43 days 2,094 sqft
    2023-08-01 39 days 2,103 sqft
    2023-09-01 42 days 2,096 sqft
    2023-10-01 41 days 2,087 sqft
    2023-11-01 45 days 2,091 sqft
    2023-12-01 54 days 2,039 sqft
    2024-01-01 61 days 2,054 sqft
    2024-02-01 48 days 2,067 sqft
    2024-03-01 44 days 2,074 sqft
    2024-04-01 41 days 2,086 sqft
    2024-05-01 40 days 2,108 sqft
    2024-06-01 46 days 2,120 sqft
    2024-07-01 41 days 2,093 sqft
    2024-08-01 43 days 2,087 sqft
    2024-09-01 43 days 2,039 sqft
    2024-10-01 41 days 2,046 sqft
    2024-11-01 46 days 2,002 sqft
    2024-12-01 54 days 1,961 sqft
    2025-01-01 56 days 1,957 sqft
    2025-02-01 49 days 1,968 sqft
    2025-03-01 44 days 2,000 sqft
    2025-04-01 36 days 2,075 sqft
    Richmond's median listing age (time on market) for 2025-04-01 was 36 days. This is -12% shorter than the same period one year ago.

    Richmond's median square footage for active listings during the 2025-04-01 period was 2,075 sqft. One year prior, the average listing was 2,086 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).