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Rent in all but five Virginia counties increased in a 10-year period, according to a Capital News Service analysis of U.S. Census Bureau gross median rent estimates. The average percent change statewide in rental costs was 24%. A wide range of occupations spend well over 30% of income on rent, some double that number. Numerous problems have compounded to create what was recently declared an affordable housing crisis by Richmond Mayor Levar Stoney and the City Council.
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Rent in all but five Virginia counties increased in a 10-year period, according to a Capital News Service analysis of U.S. Census Bureau gross median rent estimates. The average percent change statewide in rental costs was 24%. A wide range of occupations spend well over 30% of income on rent, some double that number. Numerous problems have compounded to create what was recently declared an affordable housing crisis by Richmond Mayor Levar Stoney and the City Council.
Want to spend a weekend in Richmond? We've got you covered.
Shockoe Company manages several commercial properties in Hampton Roads including grocery-anchored shopping centers, strip retail and an industrial product.