Richmond VA new residents (4 years)
Richmond, Virginia added 56,000 new residents in the last 4 years, driven by employers like Capital One with 13,000 employees.
Snapshot · BiggerPockets Real Estate Podcast
Where We'd Invest in Real Estate Right Now (12 Markets)
Explore episode
Jun 26, 2026
Where this was said
Debunking the 1% Rule
At 7:47 · chapter starts 6:37
Before naming his pick, Henry Washington walks through his market selection framework, a five-factor checklist covering price growth, population growth, job growth, rent growth, and income growth over both 1-year and 5-year windows. The goal: find places people want to live that also have jobs for them. Richmond, Virginia clears every bar. [1] — Henry Washington "Richmond, Virginia added 56,000 residents in four years and hosts major employers like Capital One (13,000 employees) and VCU. With a $364,…" 05:00 With a $364,000 median home price and $2,100 median rent, the numbers suggest deals are findable on-market — and great deals off-market. The city has added 56,000 new residents in four years, driven by employers including Capital One (13,000 workers) and VCU's hospital system. The billion-dollar Diamond District mixed-use redevelopment adds further evidence that the city is building roots. Henry sums it up as a market where you'll work for the deal but will be rewarded with both cash flow and appreciation.
The 1% Rule Is Dead — Here's What Actually Matters
The 1% rule originated 15 years ago and virtually no market in America averages it today. What matters for investors is a rent-to-price ratio in the 0.6–1% range, which signals you can find deals worth underwriting — not that every average property will cash flow.
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