Home Price Key
Affordable
Average
Expensive
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 $400,652, lower than the Massachusetts average of $477,554.
The average cost of rent is $1,064/mo in Richmond, primarily driven by the current value of real estate in the Richmond area. While nearly 45.35% of residents own their homes outright in Richmond, 8.38% rent.
Housing affordability isn’t just about home prices, though. The average household income in Richmond is $7,307 per month. Households that rent pay about 14.56% of their income on rent here. Richmond's most expensive areas are in the southwestern regions, while the cheapest areas are in the southeastern parts of the city.
Nearby Cities
- West Stockbridge, MA: higher priced homes
- Canaan, NY: less expensive homes
- Lenox, MA: equally priced homes
- New Lenox, MA: less expensive homes
- Stockbridge, MA: higher priced homes
- Austerlitz, NY: less expensive homes
- Lenox Dale, MA: less expensive homes
- New Lebanon, NY: less expensive homes
- Lee, MA: less expensive homes
- Pittsfield, MA: less expensive homes
Cities with Similar Populations
- Riverton, MN: less expensive homes
- Mayking, KY: less expensive homes
- Alexis, IL: less expensive homes
- McCullom Lake, IL: less expensive homes
- McGrady, NC: less expensive homes
- McMeekin, FL: less expensive homes
- Melber, KY: less expensive homes
- Reynolds, IL: less expensive homes
- Ridge Farm, IL: less expensive homes
- Ridgeway, OH: less expensive homes
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