OwnRVA Public Research · August 2026
Updated: September 30, 2026. Published: September 29, 2026.
Zillow Observed Rent Index levels and same-month changes over one, three and five years.
Question this report answers
How did the observed rent index change from August 2021 to August 2026?
Concise answer
The rent index was higher in every jurisdiction than it was one, three and five years earlier. Five-year growth was substantial, while one-year gains were much smaller. Chesterfield had the highest August 2026 index level among the three; Richmond city had the lowest.
What the source reports
| Jurisdiction | Aug. 2026 ZORI | 1-year change | 3-year change | 5-year change |
|---|---|---|---|---|
| Richmond city | $1,630 | 2.8% | 12.2% | 28.0% |
| Henrico County | $1,801 | 2.0% | 9.9% | 23.2% |
| Chesterfield County | $1,857 | 2.6% | 12.1% | 26.3% |
How to read the result
The rent index was higher in every jurisdiction than it was one, three and five years earlier. Five-year growth was substantial, while one-year gains were much smaller. Chesterfield had the highest August 2026 index level among the three; Richmond city had the lowest.
Decision context
The rent index was higher in every jurisdiction than it was one, three and five years earlier. Five-year growth was substantial, while one-year gains were much smaller. Chesterfield had the highest August 2026 index level among the three; Richmond city had the lowest. This is a dated county-level signal, not a property-level recommendation or forecast. Before acting, compare the home with same-type current competition and recent closed sales, then account for location, condition, concessions, association terms, financing and timing. The source period, geography and property-type definition should stay attached to the conclusion so a broad market statistic is not mistaken for proof about one home. It does not replace appraisal, inspection, lending, tax, legal, association, insurance or title advice, and it does not establish why a listing changed, whether a contract will close, or how any individual buyer or seller should proceed.
What buyers can do with it
Rent-index context can help frame a rent-versus-buy discussion, but the comparison must include taxes, insurance, maintenance, association fees, financing and the specific rent for a truly comparable home.
What sellers can do with it
For an owner evaluating a rental or sale path, a county index is only a starting point. Property-specific legal, condition, lease, operating-cost and market-rent analysis is still required.
Method and limits
ZORI is a smoothed measure of typical observed market rents. It is not an average of all current leases, a property-level rent opinion or a forecast.
Values were extracted from the provider's public county-level file or report, normalized to a common jurisdiction label, and checked for duplicate jurisdiction-period records. No client MLS export or private customer data were used. Provider definitions remain authoritative and may be revised.
Source access: Zillow Research. Public source snapshot assembled September 29, 2026. Remote acquisition time is not independently attested; local persistence time and file hash are retained in the preparation ledger.
Frequently asked questions
How did the observed rent index change from August 2021 to August 2026?
The rent index was higher in every jurisdiction than it was one, three and five years earlier. Five-year growth was substantial, while one-year gains were much smaller. Chesterfield had the highest August 2026 index level among the three; Richmond city had the lowest.
Can this county-level result predict the outcome for one property?
No. ZORI is a smoothed measure of typical observed market rents. It is not an average of all current leases, a property-level rent opinion or a forecast. A property-specific decision still requires current same-type comparisons, condition, terms and location.
Michela Worthington