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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 $282,680, higher than the Michigan average of $250,415.
The average cost of rent is $842/mo in New Richmond, primarily driven by the current value of real estate in the New Richmond area. In New Richmond, 5.58% of households rent, and 44.07% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in New Richmond is $7,261 per month. Households that rent pay about 11.60% of their income on rent here. New Richmond’s most expensive areas are in the central regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- East Saugatuck, MI: higher priced homes
- Saugatuck, MI: higher priced homes
- Glenn, MI: less expensive homes
- Douglas, MI: higher priced homes
- Spring Grove, MI: less expensive homes
- Fennville, MI: less expensive homes
- Ganges, MI: equally priced homes
- Castle Park, MI: higher priced homes
- Pearl, MI: less expensive homes
- Fillmore, MI: equally priced homes
Cities with Similar Populations
- Winn, ME: less expensive homes
- Battletown, KY: less expensive homes
- Beechwood, WI: equally priced homes
- Belcher, LA: less expensive homes
- Belle River, LA: less expensive homes
- Bonesteel, SD: less expensive homes
- Bowdens, NC: less expensive homes
- Boxley, IN: higher priced homes
- Breedsville, MI: less expensive homes
- Brewster, KS: less expensive homes
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