Living in Richmond, Illinois
Cost of living, income, home prices, rent and demographics of Richmond · Census data 2020–2024
Richmond has 2,622 residents with a median age of 35.7. The median household income is $73,029 (12% lower than the Illinois median), the median home value is $238,600, the median rent is $1,220/month.
Richmond at a glance
- Population
- 2,622
- Median age
- 35.7State: 39
- Median household income
- $73,029State: $83,390
- Median home value
- $238,600State: $263,300
- Median rent
- $1,220/moState: $1,274
- Homeowners
- 51%
- Bachelor's degree or higher
- 26.8%
- Average commute
- 31 min
Is Richmond a good place to live?
Pros: Home values 9% lower than the state median; a poverty rate of 5.2%.
Cons: Median household income 12% lower than the Illinois median; an average commute of 31 minutes; unemployment of 8.9%.
The weather is best in June to September.
Cost of living in Richmond
Housing is the biggest part of the cost of living. In Richmond the median home value is $238,600, 28% lower than the U.S. median. Renters pay a median of $1,220 per month, which is 24% of household income. Homeowners with a mortgage pay $1,732 a month in housing costs.
Richmond median household income
The median household income in Richmond is $73,029 and the income per person is $43,097. 5.2% of residents live below the poverty line (Illinois: 11.8%).
Housing in Richmond: homes for sale and rent
- Housing units
- 1,397
- Owner-occupied
- 51%
- Renter-occupied
- 49%
- Vacant
- 11.5%Includes seasonal homes
- Median year built
- 1992
- Average household size
- 2.09
Richmond demographics
- Population
- 2,622
- Median age
- 35.7
- Under 18
- 18.4%
- 65 and older
- 18.8%
- Households
- 1,236
- Foreign-born
- 4.9%
- Veterans
- 4.2%Adults 18+
Hispanic or Latino can be of any race. Population history of Richmond ›
Education in Richmond
26.8% of adults 25 and older in Richmond have a bachelor's degree or higher (Illinois: 37.8%), and 11.5% have a graduate or professional degree.
Jobs and commute in Richmond
- Unemployment rate
- 8.9%State: 5.8%
- Average commute
- 31 minState: 28 min
- Work from home
- 11%
- Drive alone
- 75.7%
- Public transit
- 1.5%
- Walk to work
- 2.6%
- Homes with broadband
- 95.8%
Richmond vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Richmond | 2,622 | $73,029 | $238,600 | $1,220 |
| Genoa City | 2,942 | $81,213 | $241,300 | $1,181 |
| Spring Grove | 5,917 | $134,210 | $398,400 | — |
| Ringwood | 730 | $143,750 | $386,400 | $1,025 |
| Twin Lakes | 6,309 | $86,222 | $270,700 | $870 |
| Powers Lake | 1,278 | $83,750 | $285,100 | — |
| Bloomfield | 4,780 | $98,068 | $236,100 | $1,265 |
| Greenwood | 502 | $131,250 | $415,900 | $1,366 |
| Hebron | 1,261 | $85,375 | $208,100 | $1,118 |
More for people moving to Richmond
Richmond ZIP code ›Weather and climate ›Living in Richmond: FAQ
What is the median household income in Richmond, IL?
The median household income in Richmond is $73,029, 12% lower than the Illinois median of $83,390 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Richmond?
The median home value in Richmond is $238,600, compared with $263,300 in Illinois.
How much is rent in Richmond?
The median gross rent in Richmond is $1,220 per month, about 24% of household income.
Is Richmond, IL a good place to live?
Pluses: home values 9% lower than the state median; a poverty rate of 5.2%. Minuses: median household income 12% lower than the Illinois median; an average commute of 31 minutes; unemployment of 8.9%.
What is the median age in Richmond?
The median age in Richmond is 35.7 years (Illinois: 39).
How long is the commute in Richmond?
The average commute to work in Richmond is 31 minutes; 11% of workers work from home.
What is the unemployment rate in Richmond?
The unemployment rate in Richmond is 8.9% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Richmond?
26.8% of adults in Richmond have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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