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These days, finding an affordable place to live in the New Richmond area can be challenging. Home prices in New Richmond are now at a median cost of $180,680, lower than the Indiana average of $232,932.
The average cost of rent is $1,029/mo in New Richmond, primarily driven by the current value of real estate in the New Richmond area. In New Richmond, 6.57% of households rent, and 33.63% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in New Richmond is $7,062 per month. Households that rent pay about 14.58% of their income on rent here. New Richmond’s most expensive areas are in the northwestern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Elmdale, IN: equally priced homes
- Wingate, IN: less expensive homes
- Linden, IN: equally priced homes
- Romney, IN: higher priced homes
- Cherry Grove, IN: higher priced homes
- Odell, IN: higher priced homes
- Wesley, IN: higher priced homes
- Newtown, IN: equally priced homes
- Waynetown, IN: less expensive homes
- Mellott, IN: less expensive homes
Cities with Similar Populations
- Ballard, WV: equally priced homes
- Balsam, NC: higher priced homes
- Barre Center, NY: less expensive homes
- Beaumont, VA: higher priced homes
- Plymouth, NY: less expensive homes
- Portsville, DE: higher priced homes
- Plattville, IL: higher priced homes
- Platte Center, NE: higher priced homes
- Pittsville, VA: less expensive homes
- Pine Valley, NY: equally priced homes
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