Market Updates, News & Updates
Permitting Activity Increases in 2024
Published: March 4, 2025
New homes in the greater Richmond area continue to grow. One way that growth continues to be measured is by the number of building permits issued in each of the counties. Compared to the previous year, there was a 5% increase in permits, totaling 231 additional permits. This upward trend highlights continued demand for new housing across multiple localities.
Five out of eight localities saw an increase in permit activity throughout the year. Notably, Henrico County led the way with the highest numeric increase, adding 178 permits—an impressive 19% rise from the previous year. Several newly developed communities contributed to this surge, reinforcing Henrico’s position as a key area for residential expansion.
Building Permits by Locality
Locality | 2023 Permits | 2024 Permits | Numeric Change | Percentage Change |
| Caroline | 253 | 325 | +72 | +28% |
| Chesterfield | 1,906 | 1,758 | -148 | -8% |
| Goochland | 271 | 323 | +52 | +19% |
| Hanover | 484 | 439 | -45 | -9% |
| Henrico | 941 | 1,119 | +178 | +19% |
| New Kent | 341 | 440 | +99 | +29% |
| Powhatan | 125 | 107 | -18 | -14% |
| Richmond | 376 | 417 | +41 | +11% |
| Total | 4,697 | 4,928 | +231 | +5% |
In Chesterfield, permit counts reflect net permit applications rather than issued permits, distinguishing its reporting method from other localities. Despite this variation, Chesterfield remains an important area of focus for new home construction. New Kent County saw the largest percentage growth in the greater Richmond area cementing its role as a location for new home development.
The increase in permits suggests a robust housing market with expanding opportunities for homebuyers. With new communities emerging and townhouse developments gaining traction, 2025 could continue this positive trend. As demand persists, builders and local officials will play a crucial role in ensuring sustainable growth that meets the needs of residents throughout Central Virginia.