Shockoe Bottom renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Shockoe Bottom is about $1,328 per month. This puts it in the 42nd percentile compared to the city average cost of rent, which is $1,355. Households in Shockoe Bottom have a median income of $6,670 per month so the average renter in Shockoe Bottom is spending roughly 20% of their earnings on housing.
Nationally, and in Shockoe Bottom, home values are the data point most closely correlated with the cost of rent. The median price of a home in Shockoe Bottom is $430,482 right now, which is higher than nearby neighborhoods, meaning that rents in Shockoe Bottom also tend to be higher versus these nearby neighborhoods.
Higher rent prices are common in the central parts of Shockoe Bottom while lower rent rates are often available in southeastern areas.
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