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These days, finding an affordable place to live in the Richardson area can be challenging. Home prices in Richardson are now at a median cost of $438,080, higher than the Texas average of $322,096.
The average cost of rent is $1,925/mo in Richardson, primarily driven by the current value of real estate in the Richardson area. In Richardson, 50.55% of households rent, and 46.08% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Richardson is $8,557 per month. Households that rent pay about 22.49% of their income on rent here. Richardson’s most expensive areas are in the northeastern regions, while the cheapest areas are in the southwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Plano, TX: higher priced homes
- Garland, TX: less expensive homes
- Addison, TX: equally priced homes
- Murphy, TX: higher priced homes
- Sachse, TX: equally priced homes
- Parker, TX: higher priced homes
- University Park, TX: higher priced homes
- Farmers Branch, TX: equally priced homes
- Carrollton, TX: less expensive homes
- Wylie, TX: equally priced homes
Cities with Similar Populations
- Monroe, LA: less expensive homes
- Milwaukee, WI: less expensive homes
- Mooresville, NC: higher priced homes
- Midlothian, VA: higher priced homes
- Montgomery, AL: less expensive homes
- Minneapolis, MN: less expensive homes
- Missouri City, TX: less expensive homes
- Morgantown, WV: less expensive homes
- Missoula, MT: higher priced homes
- Miramar, FL: equally priced homes
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