Heciel Nieves Bonilla, News Editor
Richmond is putting a policy and planning focus on housing expansion and affordability through budget items and its ongoing Code Refresh project, as people continue to face high costs and a nationally high eviction rate.
The changes come as Richmond becomes an attractive city nationally for college students and graduates seeking housing, according to realtor.com.
Mayor’s proposal includes grant programs, funding changes
The points listed in the mayor’s housing plan promise to establish predictable funding for affordable housing construction, redevelop public housing, fight displacement and continue with updating the zoning code.
The predictable funding will largely come in the form of real estate tax revenue put towards the Affordable Housing Trust Fund. That funding stream was already approved by the city council in February and is expected to bring in over $10 million this year with more millions as the city grows. The fund was previously funded irregularly, but has already led to affordable units built.
An additional $1.8 million will go towards Affordable Housing Performance grants, which will be offered to developers that ensure the inclusion of affordable homes at various price levels in their builds.
A budget plan press release from March 3 also lists “$700,000 for Right to Counsel services, $1 million for Family Crisis Funds, $1 million for eviction diversion programs to help tenants stay in their homes and $7.4 million in tax relief for older adults and residents with disabilities” among the proposed budget items.
The code refresh redefines what kinds of buildings the city allows developers to build, and in which areas, for the first time since the 1970s — largely to allow for taller and denser construction.
Mayor Danny Avula’s spokesperson Mira Signer stated that while the city’s housing initiatives do not target one single demographic, students could directly benefit from efforts that target Richmond’s renting population in particular.
Signer highlighted the effect the zoning update would have on increasing the supply of “duplexes, triplexes, and small apartment buildings” in the city, including “mixed-use development to expand lower-cost rental options near transit, jobs and campuses.”
“We are excited that students are paying close attention to housing issues in the City and are excited to create a future with more homes for more students, and more ways for students to stay in this amazing city,” Signer stated.
City Council member Katherine Jordan represents the city’s second district, which includes Monroe Park and many college students and young professionals.
Jordan hopes the final budget includes enough funding for the city’s Planning Department, which would support the zoning update and new initiatives such as the Rental Inspection Program. She has said VCU should also step up in terms of student housing as the city works to increase supply, according to a previous report by The CT.
“Housing affordability is one of if not the top issue for residents in the Second District in every budget cycle, and it is once again a major priority of mine as I consider the FY27 budget,” Jordan stated.
Broader housing context signals wide-reaching cost problem
“Affordable housing” is defined by the federal government as that which costs no more than 30% of a household’s gross income. Federal financing and other support programs are often directed at those making less than the “area median income,” which was $113,500 for households in 2025-26 according to The Richmonder.
Programs exist to support both renters and those seeking to buy a home. While public housing exists in the city, the “affordable housing” label applies to a broad range of homes and programs, including home buying.
The city’s median home sale price was $351,889 as of Jan. 31 and higher in the surrounding counties, according to Zillow. A household should make $70,000 to $90,000 to consider buying a home at that price according to the finance company SoFi — higher than the city’s median household income of $63,600 in 2025 according to the US Census.
The median asking rent in Richmond for listings rose to $1,509 by January, bucking the national trend of slight decreases in rent prices, according to realtor.com.
These discrepancies signify that the city’s targeted support programs exist in the context of broader increasing unaffordability for many demographics in the area.
Several regional organizations seek to alleviate the situation and support home seekers. One of the largest is the Better Housing Coalition, a regional nonprofit that helps build housing for both rental and purchase in the area, among other aims.
Its CEO Greta Harris wrote in a letter to The CT that the Housing Trust Fund’s proposed annual funding stream is a positive development that creates a “more supportive environment” for organizations like the BHC.
“That said, there is still work to be done,” Harris stated. “It is critical that these plans ensure equitable access so that all residents, not just select populations, benefit from these investments. As policies are implemented, the details will matter. We have to be mindful that added complexity or unintended barriers do not slow projects or limit the ability to build housing that is truly affordable.”
Woody Rogers, the policy director at the regional housing policy advocacy org Partnership for Housing Affordability, stated that the policy changes will be a boon to private developers who would need the money to make building affordable housing financially viable.
“Code Refresh not only has the potential to allow more housing to be built in critical growth centers and corridors but also could facilitate the introduction of modest increases in density to neighborhoods across the city to create greater housing diversity,” Rogers said.
Hiccups with Gilpin Court, code refresh
Efforts from different parties to change or increase housing in the city have not gone without opposition or controversy.
Last year, the Richmond Redevelopment and Housing Authority and the Mayor’s office began a public spat over its proposed redevelopment of Gilpin Court, the city’s oldest public housing project.
The demands from residents to ensure its redevelopment retains a one-for-one replacement of its units, resident oversight and a tenant bill of rights are ongoing, according to Axios.
Several neighborhood residents associations have opposed or asked to slow down the rezoning process, according to The Richmonder. Complaints from often-older residents ranging from its potential effects on neighborhood character to outsized influence of developers on the process have led to a revised current plan that makes fewer density increase changes.
Rogers stated the need for affordable housing in the region currently surpasses what current providers can serve, but that the zoning change is a good step to addressing housing affordability challenges, including as it expands the ability to build more housing beyond just certain neighborhoods like Manchester and Scott’s Addition.
“Allowing a greater diversity of housing types will present more choices to residents looking to live in neighborhoods throughout the city, and encourage more equitable access to schools, jobs, and other amenities,” Rogers stated. “Increasing the supply of housing has shown to stem rising housing costs at the city level, as has been shown in many studies across the country.”
Rogers added that the rezoning process has seen fewer voices from renters and young people than those of homeowners, in particular those in Richmond’s wealthiest neighborhoods.
Rogers encourages young people to talk with council members on the matter and stay engaged with the process as young people are increasingly unable to purchase in the area and the average age of a home buyer in the state grows.