Rent vs buy in Scott's Addition
Richmond, VA · ZIP 23230 · computed from 52 active listings within about 1.5 miles on September 14, 2026
The one number that matters
Renting a 1-bedroom here costs $1,549 a month at the median. Owning a matched 1-bedroom costs about $2,007 a month all in on the homes the engine actually matches here, typically around $204,650: mortgage, taxes, insurance, maintenance, and any HOA.
The market right now
- Studio: $1,676/mo median rent
- 1-bedroom: $1,549/mo median rent
- 2-bedroom: $1,799/mo median rent
- 3-bedroom: $2,500/mo median rent
4-bedroom rentals are not shown: fewer than 5 active listings, too few to publish a median from.
52 homes actively for sale within about 1.5 miles, spanning 6 1-bed, 6 2-bed, 22 3-bed, 15 4-bed, 2 5-bed, 1 6-bed. 29 of them sit inside 23230 itself.
Rent medians over 50 active rental listings in 23230.
What buying takes
- 1-bedroom: $239,000 median list price (market context, not the basis)
- 2-bedroom: $345,000 median list price (market context, not the basis)
- 3-bedroom: $605,000 median list price (market context, not the basis)
- 4-bedroom: $800,000 median list price (market context, not the basis)
5-bedroom list prices are not shown: fewer than 5 active listings, too few to publish a median from.
All-in monthly to own: $2,007 for a 1-bedroom, $3,297 for a 2-bedroom - mortgage, taxes, insurance, maintenance, and any HOA carried.
Cash to close on a matched 1-bedroom: about $45,023 ($40,930 down plus $4,093 closing), on the homes the engine actually matches here, typically around $204,650.
Only two matching 3-bedroom homes are for sale here right now, too few to model a reliable market price, so we are not quoting one. They are in the listings below.
The roommate math nobody shows you
A matched 2-bedroom here runs about $3,297 a month to own on the homes the engine actually matches here, typically around $324,667. Split two ways, that is about $2,172 per person. Qualifying for the same home solo takes roughly $110,000 a year at the standard 36 percent lender cap: rent splits between people, a mortgage qualification does not.
On the market in Scott's Addition
| Address | Beds | Price | Cash to close |
|---|---|---|---|
| 4712 Radford Ave | 3 | $449,900 | $98,978 |
| 5302 Masons Ln | 3 | $479,950 | $105,589 |
| 5100 Monument Ave Unit 1005 | 1 | $164,950 | $36,289 |
| 5100 Monument Ave Unit 607 | 1 | $204,000 | $44,880 |
| 4632 Grove Ave Unit 5 | 1 | $245,000 | $53,900 |
| 5100 Monument Ave Unit 311 | 1 | $239,000 | $52,580 |
The engine's own top matches for a typical renter here; each cash-to-close is 20 percent down plus closing on that home's price.
Scott's Addition, rent versus deed
29 homes are listed for sale within 23230 itself and 52 within about 1.5 miles, a small pool for a neighborhood this dense with renters. The median one-bedroom rent across it is $1,549 a month.
$2,007 a month is the matched cost of owning a comparable one-bedroom, priced near $204,650, with taxes, insurance, maintenance and association fees already counted.
$45,023 at closing is the real barrier, near 7.5 years of setting aside $500 a month. Splitting compresses that: a matched two-bedroom costs about $2,172 per person between two, where a single buyer needs roughly $110,000 of income to qualify for the same address.
Keep exploring
- Downtown Richmond · own from about $2,056/mo
- The Fan & VCU · own from about $1,987/mo
- Carytown & Museum District
- Northside & Highland Park
- Church Hill & East End
- All Richmond, VA neighborhoods
- Introducing LeaseLens: how the rent-vs-buy math actually works
Common questions
Is it cheaper to rent or buy in Scott's Addition?
The median 1-bedroom rents for about $1,549 a month, while owning a matched 1-bedroom runs about $2,007 a month all in (mortgage, taxes, insurance, maintenance, and any HOA) at a typical price of $204,650.
How much cash do I need to buy in Scott's Addition?
About $45,023 covers a 20 percent down payment plus closing costs on a matched 1-bedroom. Lower down payment paths exist; this is the standard construction.
Can roommates buy together in Scott's Addition?
Splitting a 2-bedroom two ways runs about $2,172 per person each month, while qualifying for the same home solo takes roughly $110,000 of annual income at the standard 36 percent lender cap.
Run it on your actual lease
These figures describe a typical renter. Upload your lease and LeaseLens computes the same comparison on your real rent, income, and savings, then watches the market for you.
Analyze my leaseData updated September 14, 2026.
How these numbers are computed
Every figure comes from the same engine that powers the LeaseLens comparison, run over live inventory in 23230: rent medians from active rental listings, ownership costs from the engine's top-matched-homes construction, and the crossover year from its 30-year net worth projection. The reference buyer is a solo renter with good credit, a $100k income, 20 percent down, and cash covering the close. Your own lease and finances will move every number, which is what the full comparison is for.