Richmond, VA · Occupancy & ADR
Richmond occupancy rate and average daily rate
A well-run Richmond short-term rental models at 59% occupancy — about 215 booked nights a year — at an average daily rate of $172. That works out to $101 of revenue per available night.
Occupancy
59%
215 nights booked
Average daily rate
$172
Revenue per available night
$101
ADR × occupancy
Typical stay length
2.6 nights
≈ 83 turnovers a year
Rate versus nights booked
In Richmond the two levers move against each other. Modelled outcomes at three pricing positions:
| Pricing position | Nightly rate | Occupancy | Nights | Gross revenue |
|---|---|---|---|---|
| Price 10% under the market | $155 | 66% | 241 | $37,385 |
| Market pricing | $172 | 59% | 215 | $37,040 |
| Price 10% over the market | $189 | 52% | 190 | $35,817 |
The trade-off uses a modelled price elasticity: a 10% price move shifts occupancy by roughly 12% in the opposite direction. Real elasticity varies by property and by season — treat this as a way to frame the decision, not a forecast.
Occupancy by month
| Month | Modelled occupancy | Modelled ADR |
|---|---|---|
| Jan | 52% | $157 |
| Feb | 54% | $162 |
| Mar | 61% | $177 |
| Apr | 64% | $182 |
| May | 64% | $182 |
| Jun | 64% | $182 |
| Jul | 59% | $172 |
| Aug | 57% | $167 |
| Sep | 61% | $177 |
| Oct | 64% | $182 |
| Nov | 57% | $167 |
| Dec | 52% | $157 |
Compare Richmond with nearby markets
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