---
title: "Buying a Home Near VCU or University of Richmond: Guide for Students, Parents, and Investors"
url: https://www.danielyoonrealty.com/blog/buying-home-near-vcu-university-richmond-va/
date: 2026-04-27
modified: 2026-04-28
author: "Daniel Yoon"
description: "by Daniel Yoon | eXp Realty | Richmond, Virginia If you are a parent with a child at VCU or University of Richmond, buying a property near campus can make..."
categories:
  - "Blog"
  - "Guides"
image: https://www.danielyoonrealty.com/wp-content/uploads/2026/04/featured-1178-1024x536.jpg
word_count: 366
---

# Buying a Home Near VCU or University of Richmond: Guide for Students, Parents, and Investors

*by Daniel Yoon | eXp Realty | Richmond, Virginia*

If you are a parent with a child at VCU or University of Richmond, buying a property near campus can make more financial sense than paying 4 years of rent. If you are an investor, student housing in Richmond generates strong rental returns. Here is the math and the strategy for both.

## Near VCU: The Fan District and Oregon Hill

**Typical rental:** $800 to $1,200/month per bedroom. A 3-bedroom house rents for $2,400 to $3,600/month to student groups.

**Purchase price:** $300,000 to $500,000 for a row house in The Fan.

**The parent strategy:** Buy a 3-bedroom. Your child lives in one room, you rent the other two to roommates. Rental income covers 60% to 80% of the mortgage. After 4 years, sell the property (likely appreciated 15% to 20%) or keep it as a rental.

**The investor strategy:** Buy and rent the entire property to student tenants. Gross yield: 6% to 8%. High turnover but consistent demand. VCU enrolls 30,000+ students annually.

## Near University of Richmond: Westover Hills and Forest Hill

**Purchase price:** $350,000 to $550,000.

**Rental demand:** Lower than VCU area but steady. More graduate students and young professionals than undergrads.

University of Richmond is a smaller campus (4,000 students) with more on-campus housing. The rental opportunity is smaller but the properties tend to attract higher-quality tenants and appreciate well.

## Financing Student Housing

If a parent occupies the property (through their student), it may qualify for owner-occupied financing (lower rates, lower down payment). If purely an investment, expect 20% to 25% down and rates 0.5% to 0.75% higher than owner-occupied.

## FAQs

### Is buying near VCU a good investment?

Yes. Consistent rental demand from 30,000+ students, strong appreciation in The Fan, and gross yields of 6% to 8% make VCU-area properties solid investments.

### Can parents get owner-occupied rates?

If the student is a dependent and will live in the property, some lenders classify it as owner-occupied. Discuss with your lender before applying.

**Interested in student housing investment?** Call Daniel Yoon at (804) 896-2694. I help parents and investors find the right properties near Richmond’s universities.

## Related Articles
- [Relocating to Richmond](/relocating-to-richmond-va-guide)- [Best Neighborhoods for Families](/best-neighborhoods-richmond-va-families)- [School District Comparison](/richmond-va-school-district-comparison)- [Short Pump Guide](/short-pump-va-neighborhood-guide)- [Investment Guide](/richmond-va-real-estate-investment-guide)