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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 $395,216, higher than the Texas average of $322,096.
The average cost of rent is $2,002/mo in Richmond, primarily driven by the current value of real estate in the Richmond area. In Richmond, 22.50% of households rent, and 28.98% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Richmond is $10,032 per month. Households that rent pay about 19.95% of their income on rent here. Richmond’s most expensive areas are in the eastern 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
- Pecan Grove, TX: higher priced homes
- New Territory, TX: equally priced homes
- Crabb, TX: less expensive homes
- Mission Bend, TX: less expensive homes
- Sugar Land, TX: higher priced homes
- Greatwood, TX: higher priced homes
- Rosenberg, TX: less expensive homes
- Cinco Ranch, TX: higher priced homes
- Meadows Place, TX: less expensive homes
- Stafford, TX: less expensive homes
Cities with Similar Populations
- Midland, TX: less expensive homes
- Miami Gardens, FL: equally priced homes
- Miami, FL: higher priced homes
- Mission Viejo, CA: higher priced homes
- Moreno Valley, CA: higher priced homes
- Madera, CA: equally priced homes
- Maryville, TN: less expensive homes
- Marysville, WA: higher priced homes
- Lynchburg, VA: less expensive homes
- McKinney, TX: higher priced homes
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