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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 $227,187, lower than the Maine average of $330,167.
The average cost of rent is $1,040/mo in Richmond, primarily driven by the current value of real estate in the Richmond area. In Richmond, 35.06% of households rent, and 33.13% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Richmond is $5,609 per month. Households that rent pay about 18.54% of their income on rent here. Richmond’s most expensive areas are in the southwestern 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
- Richmond Corner, ME: higher priced homes
- Cathance, ME: higher priced homes
- Dresden, ME: higher priced homes
- Libby Hill, ME: higher priced homes
- Litchfield Plains, ME: equally priced homes
- South Gardiner, ME: less expensive homes
- Bowdoinham, ME: higher priced homes
- Hatchs Corner, ME: higher priced homes
- Gardiner, ME: equally priced homes
- Litchfield, ME: higher priced homes
Cities with Similar Populations
- Teachey, NC: equally priced homes
- Hanover, MI: equally priced homes
- Horton, KS: less expensive homes
- Humboldt, KS: less expensive homes
- Loon Lake, WA: higher priced homes
- South China, ME: equally priced homes
- Sparta, KY: less expensive homes
- St. George, MO: less expensive homes
- Swoope, VA: higher priced homes
- Talty, TX: higher priced homes
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