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Affordable
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These days, finding an affordable place to live in the Richmond area can be challenging. Home prices in Richmond are now at a median cost of $138,308, lower than the Arkansas average of $207,061.
The average cost of rent is $877/mo in Richmond, primarily driven by the current value of real estate in the Richmond area. In Richmond, 18.78% of households rent, and 61.01% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Richmond is $6,561 per month. Households that rent pay about 13.36% of their income on rent here. Richmond’s most expensive areas are in the central regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Ashdown, AR: equally priced homes
- Wilton, AR: less expensive homes
- Fomby, AR: less expensive homes
- Ogden, AR: less expensive homes
- Alleene, AR: equally priced homes
- Wallace, AR: less expensive homes
- Redbank, TX: higher priced homes
- Burns, TX: higher priced homes
- Smith Hill, TX: equally priced homes
- Foreman, AR: less expensive homes
Cities with Similar Populations
- Locktown, NJ: higher priced homes
- Ludville, GA: higher priced homes
- Yonkerville, MO: higher priced homes
- Zamora, NM: higher priced homes
- Lowes Crossroads, DE: higher priced homes
- Lovett, IN: higher priced homes
- Adell, TX: higher priced homes
- Lorenzo, GA: higher priced homes
- Longview, VA: higher priced homes
- Longdale, OK: equally priced homes
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