Richmond, KY

  • Overview
  • Performance
  • Listings
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Key Performance Metrics

Market snapshot

Performance indicators for the Richmond short-term rental market based on reliable data.

Listings

139 / 224

Reliable / Active

Cap Rate

8%

Middle-Earners Gross Yield

Revenue

$22,911

Middle-Earners Revenue

Occupancy

58%

Middle-Earners Occupancy

Home Value

$302,565

Median Home Sale Price

Top Earners

$40,271

Top-Earners Revenue

Richmond

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Richmond.

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A

Very Investor friendly

Richmond Regulations

STRs are clearly permitted in most residential zones with simple, low-cost registration ($2.50 initial, $100 annual) and no apparent caps, while enforcement is active but predictable and the city’s tone is supportive.

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About Richmond

Richmond is a small college city in central Kentucky, serving as the seat of Madison County and home to Eastern Kentucky University. With a population of roughly 36,000 residents, the city blends the energy of a college town with the slower rhythm of a traditional Bluegrass community, and it is best known as a convenient base for travelers exploring the natural beauty of eastern Kentucky. Richmond sits about 25 miles southeast of Lexington, the nearest major city, and roughly 100 miles southeast of Louisville and a similar distance south of Cincinnati, making it a useful midway stop on regional road trips.

A short drive west of the city center brings visitors to Fort Boonesborough State Park, a living-history site along the Kentucky River where a working reconstruction of Daniel Boone's 1775 frontier fort has been built. The park, located approximately 8 miles from downtown Richmond, offers costumed interpreters, a blockhouse to tour, a campground, a swimming pool, a miniature golf course, and a small museum with artifacts from Kentucky's pioneer era, drawing families and school groups throughout the warmer months. Visitors can also walk along the river, picnic under the trees, or watch demonstrations of frontier crafts.

In the heart of Richmond itself, White Hall State Historic Site preserves the Italianate mansion once belonging to Cassius Marcellus Clay, the outspoken 19th-century abolitionist, statesman, and U.S. minister to Russia. The three-story home, managed by the Kentucky Department of Parks, contains original furnishings, period artwork, and exhibits on Clay's diplomatic and political life, providing a quiet but rewarding stop for visitors interested in Civil War-era history.

Just a few miles south of town, Lake Reba Recreation Area offers a cluster of public outdoor amenities, including a small lake for fishing and pedal-boating, sports fields, walking trails, and an aquatic center that becomes lively in summer. The surrounding park serves as the city's most convenient green space and gives short-term guests an easy, no-drive option for an afternoon outdoors.

Richmond works as a short-term-rental base precisely because of this mix. Guests can stay in a quiet college-town neighborhood while keeping Lexington's dining, horse-country tours, and bourbon distilleries within a half-hour drive, and can use the city as a stepping-off point for the natural areas, gorges, and lakes of the Daniel Boone National Forest and the broader eastern Kentucky region. With a low-key atmosphere, walkable downtown, and ready access to both cultural and outdoor attractions, the city appeals to road-trippers, visiting families, and nature-minded travelers looking for value and convenience.

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