Richmond, VA Rent To Own Homes

Rent-to-Own Homes in Richmond, VA: What You Need to Know

The capital of the state of Virginia, Richmond is one of the oldest cities in the United States, incorporate in 1742. It has a long and robust history, including the famous “Give me liberty or give me death” speech by Patrick Henry outside St. John‘s Church in 1775. Today, Richmond is both a bedroom community to professionals working in the nation’s capital as well as a bustling city of its own accord. The area is divided into five distinct districts, each with its own look and vibe.

Job Opportunities in and Around Richmond 

The Richmond Economic Development Authority lists six critical industries as the most vital to the city’s economy. These include finance, insurance, and real estate, green technology, advanced manufacturing, health and life sciences, transportation/logistics, and creative/knowledge-based. 

For those commuting to Washington DC, top job opportunities exist in government, law, and finance. Capital One Financial Corp., Virginia Commonwealth University Health System, HCA Virginia Health System, and Bon Secours Richmond are the largest employers in the city.

The average salary of a resident in Richmond is $61k. The unemployment rate in the city, as recorded for February 2020, was 2.8%.

Schools and Education 

The schools in Richmond are highly-rated, providing quality education with many different opportunities for the 24,000 students in the district. There are 25 elementary schools, five high schools, seven middle schools, and three alternative/specialty schools in the district, which has consistently been cited as a top district nationally by independent reviewers, including US News & World Report. 

Richmond is also home to five major institutions of higher learning, including the University of Richmond, Virginia State University, Randolph Macon College, Virginia Union University, and Virginia Commonwealth University. The total enrollment of the schools brings thousands of students to Richmond to advance their education each year.

Getting Around the City 

The Greater Richmond Transit Company (GRTC Transit System), offers 34 bus routes through urban and suburban areas throughout Richmond. VRE is the commuter rail, which brings travelers to and from Washington DC each day for work. On the main streets of the city, people will often walk from place to place, although the majority of the city’s residents get around via personal vehicle.

Richmond’s Weather and Climate 

Winters in Richmond are quite cold with a fair amount of snow (an average of 10” per year), while summers are mainly hot and muggy. The city avoids drastic extremes, with temperatures typically staying at or above freezing in the winter and at or below 90°F in the summer. The region gets a considerable amount of rain throughout the year though the amount varies widely from year to year. May through early October is considered the best time to visit Richmond.

Know Your Neighborhoods 

Each of the five districts in Richmond has several neighborhoods from which to choose when considering a move to the city. Each offers a very different look and feel to meet the need of those looking for the perfect place to call home.

Lakeside is a community located in Henrico Country, north of Richmond. Primarily made up of young and growing families, the area is known for its suburban feel, good schools, and affordable home prices ($173,500 average).  The neighborhood has several parks and green spaces, restaurants, and local shops, making it a perfectly typical suburban neighborhood.

Chimborazo is a small neighborhood overlooking the James River. Homes here range from $100,000 up to $700,000 depending on size, amenities, and location.  The neighborhood is part of the Oakwood-Chimborazo Historic District and has several historic homes. The neighborhood has many restaurants, though it is largely residential with single-family Victorian and colonial homes.

The Museum District draws young professionals, primarily renters, looking to be in the center of it all. With a population of 6,801, the Museum District is one of the best places to live in Virginia. With both single-family and apartment (condo) options to choose from, the Museum District offers proximity to restaurants, bars, gyms, shops, and nearby parks.