The Many Faces That Make Up Downtown Richmond, VA
Downtown's growth has helped drive city-wide population growth
Downtown Richmond's growth signals a dynamic and vibrant downtown, one that not only has a working population in the daytime but also activity throughout the day and nighttime. It maintains a unique identity and leverages its popularity among young adults to be one of the fastest growing downtowns over the past two decades.*
Downtown Richmond, VA Demographics
Population*
- 21,600 total residential population of Richmond, VA in 2022
- 120% growth puts Richmond in the top echelons of downtown residential growth among its peers (2000-2022)
- 6th ranked in population growth of all IDA study downtowns (2000-2022)
- 9.4% of the city’s total population (residential numbers include students who live off-campus downtown but exclude anyone living in group quarters such as dorms)
- 3.2 square miles downtown absorbed 22% of all of the city’s population growth from 2010-2020
Age*
- 66% ages 18-34
- 15% ages 50+
Diversity* (according to American Community Survey ACS data)
- 52% White
- 30% Black
- 6% Asian and Pacific Islander
- 4% Hispanic or Latino
Downtown Richmond, VA Market Data
Income*
- 14% high-income households (over $100k)
- 41% middle-income households ($40K -$100K)
- $46,489 median household income
- 21% lower-income households ($20K - $40K)
Education*
- 66% of downtown’s residents over 25 yrs. old have a post-secondary degree education
Employment/Jobs*
- 76,650 downtown workers
- 50% of all citywide employment
- 9% growth in employment from 2002-2019
Commute*
- 6% transit ridership for their commute
- 17% walking for their commute
- 67% driving for their commute
