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These days, finding an affordable place to live in the Richwood area can be challenging. Home prices in Richwood are now at a median cost of $284,450, lower than the Minnesota average of $345,793.
The average cost of rent is $874/mo in Richwood, primarily driven by the current value of real estate in the Richwood area. In Richwood, 9.86% of households rent, and 53.75% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Richwood is $5,996 per month. Households that rent pay about 14.58% of their income on rent here. Richwood’s most expensive areas are in the southwestern regions, while the cheapest areas are in the western parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Callaway, MN: less expensive homes
- Rochert, MN: higher priced homes
- Westbury, MN: higher priced homes
- White Earth, MN: less expensive homes
- Ogema, MN: less expensive homes
- Detroit Lakes, MN: equally priced homes
- Waubun, MN: less expensive homes
- Shoreham, MN: higher priced homes
- Audubon, MN: higher priced homes
- Snellman, MN: less expensive homes
Cities with Similar Populations
- Rossburg, OH: less expensive homes
- Mechanicsburg, VA: less expensive homes
- Mechanicstown, OH: less expensive homes
- Mercer, NC: less expensive homes
- Meridean, WI: equally priced homes
- Millerton, OK: less expensive homes
- Poquott, NY: higher priced homes
- Provost, VA: higher priced homes
- Revere, PA: higher priced homes
- Riddleton, TN: less expensive homes
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