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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 $185,719, lower than the Louisiana average of $235,139.
The average cost of rent is $795/mo in Richmond, primarily driven by the current value of real estate in the Richmond area. In Richmond, 15.62% of households rent, and 56.85% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Richmond is $5,263 per month. Households that rent pay about 15.10% of their income on rent here. Richmond’s most expensive areas are in the northern 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
- Tallulah, LA: less expensive homes
- Englewood, LA: less expensive homes
- Ashly, LA: less expensive homes
- Thomastown, LA: less expensive homes
- Mound, LA: less expensive homes
- Waverly, LA: less expensive homes
- Delta, LA: less expensive homes
- Tendal, LA: less expensive homes
- Cedars, MS: less expensive homes
- Vicksburg, MS: less expensive homes
Cities with Similar Populations
- Saratoga, IN: equally priced homes
- Industry, CA: higher priced homes
- Industry, IL: less expensive homes
- Ingleside on the Bay, TX: higher priced homes
- Irvine, PA: less expensive homes
- Irwin, IA: equally priced homes
- Isleboro, FL: higher priced homes
- Iverson, MN: higher priced homes
- Kaneville, IL: higher priced homes
- Kirby, AR: less expensive homes
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