The Most Affordable Neighborhoods in Richland, IA by Home Value

These days, finding an affordable place to live in the Richland area can be challenging. Home prices in Richland are now at a median cost of $138,859, lower than the Iowa average of $226,062.

The average cost of rent is $769/mo in Richland, primarily driven by the current value of real estate in the Richland area. In Richland, 17.68% of households rent, and 40.86% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Richland is $6,143 per month. Households that rent pay about 12.52% of their income on rent here. Richland’s most expensive areas are in the northeastern 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.

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