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 $261,349, lower than the Minnesota average of $269,934.
The average cost of rent is $887/mo in Richmond, primarily driven by the current value of real estate in the Richmond area. While nearly 47.15% of residents own their homes outright in Richmond, 8.59% rent.
Housing affordability isn’t just about home prices, though. The average household income in Richmond is $6,804 per month. Households that rent pay about 13.04% of their income on rent here. Richmond's most expensive areas are in the central regions, while the cheapest areas are in the western parts of the city.
Nearby Cities
- Cold Spring, MN: equally priced homes
- Roscoe, MN: equally priced homes
- Jacobs Prairie, MN: higher priced homes
- St. Martin, MN: equally priced homes
- Eden Valley, MN: less expensive homes
- Rockville, MN: higher priced homes
- Paynesville, MN: less expensive homes
- Watkins, MN: less expensive homes
- Collegeville, MN: higher priced homes
- Avon, MN: equally priced homes
Cities with Similar Populations
- Bentleyville, PA: less expensive homes
- Bismarck, AR: less expensive homes
- Burton, OH: less expensive homes
- Hagerstown, IN: less expensive homes
- Salina, OK: less expensive homes
- South Mills, NC: less expensive homes
- Redland, AL: equally priced homes
- Unadilla, NY: less expensive homes
- Norwich, VT: higher priced homes
- Montrose, NY: higher priced homes
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