Richmond Hill, Georgia Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Richmond Hill, Georgia rental market.
Highlights
An apartment for rent in Richmond Hill, Georgia typically goes for $1,843 per month, while a single-family home for rent in Richmond Hill, Georgia has a monthly cost of around $2,298. Renter-occupied units make up 38% of the local housing market, while the rental vacancy rate in Richmond Hill, Georgia is at 9.6.
Richmond Hill, Georgia
Average Apartment Rent
$1,843
Y-o-Y Change in Average
Apartment Rent
12.2%
Average Single-Family Rent
$2,298
As of November 2024
Compared to a year ago, Richmond Hill, Georgia apartments have recorded a 12.2% rent increase.
Richmond Hill, Georgia Average apartment rent trend
Richmond Hill, Georgia Average Apartment Rent
Richmond Hill, Georgia Apartment rent ranges
At 80.88%, apartments priced $1,500 - $2,000 represent the bulk of Richmond Hill, Georgia rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 2.12%.
Richmond Hill, Georgia Housing tenure**
Renters take up 38% of Richmond Hill, Georgia real estate, occupying a total of 2,246 units, while homeowners live in 3,690 properties.
Median number of rooms of renter-occupied housing units**
4.6
Renter median household income**
$57,973
Average household size of renter-occupied housing units**
2.55
Rental vacancy rate**
9.6%
Richmond Hill, Georgia Renter-occupied housing units by no. of bedrooms**
There are 762 rentals in Richmond Hill, Georgia with 3 beds making up the highest share of the market, at 34%. Units with 5 or more beds, on the other hand, hold the lowest percentage (4%), amounting to 97 units. Overall, the median number of rooms in Richmond Hill, Georgia homes for rent is 4.6.
Richmond Hill, Georgia Renter-occupied units by age of householder**
Most condos for rent in Richmond Hill, Georgia are occupied by residents in the 35 - 44 years age group (25%), followed by those in the 25 - 34 years age group (25%). At the same time, people in the 55 - 59 years age group make up the lowest share of the local rental market – 4%.
Richmond Hill, Georgia Renter-occupied housing units by family type**
Richmond Hill, Georgia Renter-occupied housing units by the presence of own children**
A total of 1,465 apartments for rent in Richmond Hill, Georgia, or 65% of all rentals are family households. Additionally, 52% of rental homes include children under the age of 18 – that’s 1,165 units. All in all, the median size of a renter-occupied household in Richmond Hill, Georgia is 2.55.
Richmond Hill, Georgia Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 35% of the rental market. In contrast, residents with less than a high school degree reside in 4% of the homes for rent in Richmond Hill, Georgia.
Richmond Hill, Georgia Renter-occupied units by year structure built**
The highest share of Richmond Hill, Georgia apartment rentals, namely 31% or 692 units, were Built 2010 - 2019, followed by those Built 2000 - 2009 (24%, 532 units), and the ones Built 1990 - 1999 (23%, 510 units).
Richmond Hill, Georgia Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Richmond Hill, Georgia renters (48%) moved in 2010 to 2017, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Richmond Hill, Georgia condos for rent is 2018.
Richmond Hill, Georgia Renter-occupied housing units by vehicles available**
When it comes to transportation options, 47% of Richmond Hill, Georgia renters have 1 vehicle available per household, 30% of them have 2 vehicles available, and 11% have 3 vehicles available.
Richmond Hill, Georgia Means of transportation to work of householders living in renter-occupied housing units**
Richmond Hill, Georgia Geographical mobility in the past year for householders living in renter-occupied housing units**
Richmond Hill, Georgia Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Richmond Hill, Georgia apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
