Richmond, Va.

Rank: 25
Rent drop: -1.9%
Q4 2008 rent change: -2.2%
Q4 2007 rent change: -0.2%
Effective rent: $884

Richmond is a midsize city with its own symphony, museums, and universities. The area's unemployment rate climbed to 5% in November 2008 compared to 3.2% in November 2007. The apartment vacancy rate jumped to 6.3% in the fourth quarter last year from 4.7% in the same period in 2007. Landlords on average are giving 2.3 weeks of rent concessions.