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Investor-friendly real estate agents in Richmond, KY
We match investors with vetted Richmond-area agents who own rentals, run the numbers, and know the local rules. Free for investors.
Get matched in RichmondVetted investor agents across the Richmond metro
Richmond is a college town on I-75, home to Eastern Kentucky University and about 30 minutes south of Lexington. It's growing: the Richmond-Berea area (Madison County) has added about 7% more people since 2020, mostly from Americans moving in. But rent-to-price is thin. Typical home values are about $265,000 and typical rent about $1,120, roughly 0.42% a month, so a median-priced rental won't cash flow with a mortgage. Our vetted agent partners here are a senior commercial and multifamily broker and a Lexington-based agent who covers Central Kentucky, including short sales and foreclosures.
Multifamily and commercial investment sales from a senior commercial broker who covers Richmond along with Louisville and Lexington.
Buy-side representation across Lexington and Central Kentucky from an agent with the SFR (short sales and foreclosures) and ABR (buyer representation) designations.
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Is Richmond worth investing in? The long-term trends
People, jobs, rents and prices for the Richmond-Berea metro, straight from the Census Bureau, the Bureau of Labor Statistics and Zillow. Hover or tap a chart for exact values.
View data table
| Period | Value |
|---|---|
| 2020 | 123,215 |
| 2021 | 123,702 |
| 2022 | 125,416 |
| 2023 | 127,624 |
| 2024 | 129,757 |
| 2025 | 131,806 |
View data table
| Period | Value |
|---|---|
| 2011 | +924 |
| 2012 | +130 |
| 2013 | +119 |
| 2014 | +789 |
| 2015 | +732 |
| 2016 | +941 |
| 2017 | +1,178 |
| 2018 | +833 |
| 2019 | +676 |
| 2020 | +995 |
| 2021 | +614 |
| 2022 | +1,845 |
| 2023 | +2,127 |
| 2024 | +1,877 |
| 2025 | +1,976 |
View data table
| Period | Value |
|---|---|
| Dec 2019 | $709/mo |
| Dec 2020 | $738/mo |
| Dec 2021 | $809/mo |
| Dec 2022 | $923/mo |
| Dec 2023 | $961/mo |
| Dec 2024 | $1,029/mo |
| Dec 2025 | $1,035/mo |
| Sep 2026 | $1,062/mo |
View data table
| Period | Value |
|---|---|
| Dec 2010 | $130,226 |
| Dec 2011 | $130,234 |
| Dec 2012 | $127,404 |
| Dec 2013 | $124,796 |
| Dec 2014 | $128,553 |
| Dec 2015 | $135,294 |
| Dec 2016 | $141,899 |
| Dec 2017 | $154,245 |
| Dec 2018 | $158,606 |
| Dec 2019 | $166,405 |
| Dec 2020 | $186,235 |
| Dec 2021 | $205,932 |
| Dec 2022 | $224,338 |
| Dec 2023 | $233,675 |
| Dec 2024 | $249,336 |
| Dec 2025 | $261,307 |
| Sep 2026 | $262,983 |
View data table
| Period | Value |
|---|---|
| Dec 2019 | 19.6× |
| Dec 2020 | 21.0× |
| Dec 2021 | 21.2× |
| Dec 2022 | 20.3× |
| Dec 2023 | 20.3× |
| Dec 2024 | 20.2× |
| Dec 2025 | 21.0× |
| Sep 2026 | 20.6× |
Data retrieved October 16, 2026. Figures cover the Richmond-Berea metro area.
The numbers and rules that matter in Richmond
Zillow Home Value Index, Richmond-Berea metro, Sep 2026 (+1.1% YoY).
Zillow Observed Rent Index, all home types, Sep 2026 (+1.8% YoY). Single-family 3-beds rent higher.
Typical rent ÷ typical home value. Well under the 1% rule; plan on cash flow from buying right, not from rents.
Over the past year: home values +1.1%, rents +1.8%.
Kentucky landlord-tenant basics
Kentucky's Uniform Residential Landlord and Tenant Act (URLTA, KRS 383.500 to 383.715) applies only where a city or county has adopted it. Louisville and Lexington have. We couldn't confirm whether Richmond, Berea or Madison County has, so check with a Kentucky attorney for the specific address. The points investors ask about most:
- Security deposit: no statutory cap anywhere in Kentucky. Where URLTA applies, hold it in a separate account and tell the tenant where it is (KRS 383.580).
- Nonpayment: where URLTA applies, a 7-day written notice to pay or the lease ends (KRS 383.660). Elsewhere the lease and Kentucky's general forcible detainer process govern. Either way, eviction goes through district court.
- Entry: where URLTA applies, at least 2 days' notice except in an emergency (KRS 383.615). Elsewhere there's no statutory period, so put one in your lease.
- No rent control: state law (KRS 65.875) bars cities and counties from regulating private rents. Since 2024 (HB 18), they also can't require landlords to accept housing vouchers.
- Squatters: since 2025 (HB 10), an owner can ask law enforcement to remove someone occupying a property with no right to be there, without a full eviction case.
- Lexington, where one of our agents is based, has adopted URLTA, so its rules apply to Fayette County properties.
Short-term rental rules in Richmond
Richmond regulates short-term rentals under Ordinance 24-02, which is part of the city's development ordinance and covers Airbnb, Vrbo and similar listings. The city amended the rules again in 2026.
- Which residential zones allow STRs, and on what terms, is set in the development ordinance and was changed in 2026. Confirm the zone and any spacing or approval requirement with Richmond Planning & Zoning before you buy.
- Register with the city so it can collect transient room taxes and occupational license taxes.
- Stays under 30 days also owe Kentucky's 1% state transient room tax and 6% sales tax. Airbnb and Vrbo collect the state room tax for their hosts.
- Properties outside city limits in Madison County, and in Berea, fall under different rules. HOAs can ban STRs regardless.
- In 2026 a state bill (SB 112) would have barred local STR permits and density limits. It stalled in committee, so city rules still apply.
Last reviewed October 15, 2026. General information, not legal or tax advice — rules and fees change, so confirm with the city, the statute, or your attorney before you rely on them. Sources: Zillow Research data (ZHVI, ZORI) — Richmond, KY; KRS 383.500 — Local adoption of URLTA; KRS 383.580 — Security deposits; KRS 383.615 — Landlord access; KRS 383.660 — Nonpayment notice (URLTA); KRS 65.875 — Local rent control prohibited; Kentucky HB 18 (2024) — Housing vouchers; Kentucky HB 10 (2025) — Removal of unlawful occupants; City of Richmond — City ordinances (Ordinance 24-02, short-term rentals); City of Richmond — Development Ordinance (Oct 2025); WKYT — Richmond commissioners consider short-term rental ordinance (2024); Kentucky Department of Revenue — Transient Room Tax; Kentucky SB 112 (2026) — Short-term rentals.
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About 1 hour 45 minutes northwest: Kentucky's biggest metro, with more agents and a citywide landlord-tenant act.
About 1 hour 45 minutes north on I-75, including Northern Kentucky under Kentucky law.
About 25 miles north on I-75: the regional metro, under the same Kentucky law.
Questions investors ask about Richmond
Which areas do your Richmond agents cover?
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Our vetted agent partners cover Richmond and Madison County, Lexington and the rest of Central Kentucky. One is a senior commercial and multifamily broker; the other is a Lexington-based agent with short-sale and foreclosure training. Tell us your strategy, budget and target area and we'll match you.
Is Richmond a good market for cash-flowing rentals?
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Not at median prices. Typical rent is about 0.42% of home value per month, well under the 1% rule. The case for Richmond is steady growth and EKU-driven rental demand. To make the numbers work, buy below median and underwrite on rents you can verify for that street.
Can I run an Airbnb in Richmond, KY?
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Yes, in the zones the city's short-term rental ordinance allows, with city registration and local and state room taxes. Richmond changed which residential zones allow STRs in 2026, so confirm the zone with Planning & Zoning before you buy. HOAs can still prohibit STRs.
Is Kentucky landlord-friendly?
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Mostly. There's no deposit cap, cities can't impose rent control or require landlords to accept housing vouchers, and owners can have squatters removed without a full eviction. Notice periods depend on whether the city or county has adopted Kentucky's landlord-tenant act, so check that for each address.
Can I invest in Richmond if I live out of state?
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Yes, but in a small college town, local knowledge matters more. Pick an agent who walks properties for you, knows which streets rent to students and which to families, and connects you with a property manager.
What does it cost to get matched with a Richmond agent?
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Nothing. Agents Invest is free for investors. The agent pays us a referral fee only if you close a deal with them.
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