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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 $194,075, lower than the Indiana average of $232,932.
The average cost of rent is $768/mo in Richland, primarily driven by the current value of real estate in the Richland area. In Richland, 11.44% of households rent, and 46.06% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Richland is $5,778 per month. Households that rent pay about 13.29% of their income on rent here. Richland’s most expensive areas are in the southeastern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Bullocktown, IN: less expensive homes
- Hatfield, IN: less expensive homes
- Eureka, IN: higher priced homes
- Reo, IN: equally priced homes
- Red Bush, IN: equally priced homes
- Silverdale, IN: less expensive homes
- Patronville, IN: less expensive homes
- Yankeetown, IN: equally priced homes
- Rockport, IN: equally priced homes
- Newman, KY: higher priced homes
Cities with Similar Populations
- Rock Port, MO: less expensive homes
- Hope Hull, AL: equally priced homes
- Iron City, TN: less expensive homes
- Abbeville, MS: equally priced homes
- Kearny, AZ: less expensive homes
- Lafayette, OH: equally priced homes
- Lakeland, MN: higher priced homes
- Loysville, PA: higher priced homes
- Lynnville, TN: higher priced homes
- Middleborough, MA: higher priced homes
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