Rent vs buy in The Fan & VCU
Richmond, VA · ZIP 23220 · computed from 108 active listings within about 1.5 miles on September 14, 2026
The one number that matters
Renting a 1-bedroom here costs $1,350 a month at the median. Owning a matched 1-bedroom costs about $1,987 a month all in on the homes the engine actually matches here, typically around $204,417: mortgage, taxes, insurance, maintenance, and any HOA.
The market right now
- Studio: $1,195/mo median rent
- 1-bedroom: $1,350/mo median rent
- 2-bedroom: $1,695/mo median rent
- 3-bedroom: $2,300/mo median rent
- 4-bedroom: $2,800/mo median rent
5-bedroom rentals are not shown: fewer than 5 active listings, too few to publish a median from.
108 homes actively for sale within about 1.5 miles, spanning 6 1-bed, 35 2-bed, 40 3-bed, 20 4-bed, 5 5-bed, 1 6-bed. 77 of them sit inside 23220 itself.
Rent medians over 248 active rental listings in 23220.
What buying takes
- 1-bedroom: $215,000 median list price (market context, not the basis)
- 2-bedroom: $350,000 median list price (market context, not the basis)
- 3-bedroom: $498,000 median list price (market context, not the basis)
- 4-bedroom: $775,000 median list price (market context, not the basis)
- 5-bedroom: $589,900 median list price (market context, not the basis)
All-in monthly to own: $1,987 for a 1-bedroom, $2,265 for a 2-bedroom, $2,060 for a 3-bedroom - mortgage, taxes, insurance, maintenance, and any HOA carried.
Cash to close on a matched 1-bedroom: about $44,971 ($40,883 down plus $4,088 closing), on the homes the engine actually matches here, typically around $204,417.
The roommate math nobody shows you
A matched 2-bedroom here runs about $2,265 a month to own on the homes the engine actually matches here, typically around $313,317. Split two ways, that is about $1,215 per person. Qualifying for the same home solo takes roughly $76,000 a year at the standard 36 percent lender cap: rent splits between people, a mortgage qualification does not.
On the market in The Fan & VCU
| Address | Beds | Price | Cash to close |
|---|---|---|---|
| 1414 W Marshall St #U402 | 1 | $183,500 | $40,370 |
| 2322 Herbert Hamlet Aly Al U3 | 1 | $214,750 | $47,245 |
| 612 W Franklin St #5E | 1 | $215,000 | $47,300 |
| 212 W Franklin St #U109 | 1 | $215,000 | $47,300 |
| 110 W Marshall St #U25 | 1 | $249,950 | $54,989 |
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.
Renting in the Fan, measured
$1,350 a month is what a one-bedroom rents for across the Fan and the blocks around VCU, measured on the ZIP's own active listings. It is a reliable number and a permanent one: nothing about paying it changes your position year to year.
$204,417 is roughly what a matched one-bedroom lists for here, carrying about $1,987 a month once taxes, insurance, maintenance and any association fee are included.
108 homes are on the market within about 1.5 miles, 77 of them inside 23220. Reaching them takes $44,971 at closing, roughly 7.5 years at $500 saved monthly. A two-bedroom split two ways runs each person near $1,215 a month, against the $76,000 of income a lender wants from a single buyer.
Keep exploring
- Downtown Richmond · own from about $2,056/mo
- Carytown & Museum District
- Northside & Highland Park
- Church Hill & East End
- Manchester & Blackwell · own from about $2,102/mo
- All Richmond, VA neighborhoods
- Introducing LeaseLens: how the rent-vs-buy math actually works
Common questions
Is it cheaper to rent or buy in The Fan & VCU?
The median 1-bedroom rents for about $1,350 a month, while owning a matched 1-bedroom runs about $1,987 a month all in (mortgage, taxes, insurance, maintenance, and any HOA) at a typical price of $204,417.
How much cash do I need to buy in The Fan & VCU?
About $44,971 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 The Fan & VCU?
Splitting a 2-bedroom two ways runs about $1,215 per person each month, while qualifying for the same home solo takes roughly $76,000 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 23220: 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.