Living in New Richmond, Indiana
Cost of living, income, home prices, rent and demographics of New Richmond · Census data 2020–2024
New Richmond has 433 residents with a median age of 37.7. The median household income is $80,329 (12% higher than the Indiana median), the median home value is $89,200, the median rent is $875/month.
New Richmond is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
New Richmond at a glance
- Population
- 433
- Median age
- 37.7State: 38.1
- Median household income
- $80,329State: $71,957
- Median home value
- $89,200State: $218,200
- Median rent
- $875/moState: $1,062
- Homeowners
- 90.6%
- Bachelor's degree or higher
- 11.3%
- Average commute
- 45 min
Is New Richmond a good place to live?
Pros: Median household income 12% higher than the Indiana median; home values 59% lower than the state median; unemployment of 3.5%; a poverty rate of 6.9%.
Cons: An average commute of 45 minutes.
The weather is best in June to September.
Cost of living in New Richmond
Housing is the biggest part of the cost of living. In New Richmond the median home value is $89,200, 73% lower than the U.S. median. Renters pay a median of $875 per month, which is 16.3% of household income. Homeowners with a mortgage pay $1,291 a month in housing costs.
New Richmond median household income
The median household income in New Richmond is $80,329 and the income per person is $24,575. 6.9% of residents live below the poverty line (Indiana: 12.3%).
Housing in New Richmond: homes for sale and rent
- Housing units
- 168
- Owner-occupied
- 90.6%
- Renter-occupied
- 9.4%
- Vacant
- 4.8%Includes seasonal homes
- Median year built
- 1938
- Average household size
- 2.71
New Richmond demographics
- Population
- 433
- Median age
- 37.7
- Under 18
- 25.6%
- 65 and older
- 12.2%
- Households
- 160
- Foreign-born
- 1.8%
- Veterans
- 2.2%Adults 18+
Hispanic or Latino can be of any race. Population history of New Richmond ›
Education in New Richmond
11.3% of adults 25 and older in New Richmond have a bachelor's degree or higher (Indiana: 29.5%), and 2.2% have a graduate or professional degree.
Jobs and commute in New Richmond
- Unemployment rate
- 3.5%State: 4.3%
- Average commute
- 45 minState: 24 min
- Work from home
- 6.4%
- Drive alone
- 82.5%
- Public transit
- 0%
- Walk to work
- 0.6%
- Homes with broadband
- 96.3%
New Richmond vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| New Richmond | 433 | $80,329 | $89,200 | $875 |
| Linden | 590 | $67,981 | $141,800 | $735 |
| Wingate | 296 | $64,375 | $76,000 | — |
| Romney | 391 | $63,578 | $161,000 | — |
| Waynetown | 805 | $60,583 | $128,700 | $1,013 |
| Newtown | 200 | $59,167 | $99,000 | — |
| Mellott | 195 | $86,000 | $140,600 | — |
| Shadeland | 1,921 | $82,708 | $270,000 | $1,121 |
| West Point | 189 | $125,409 | $145,900 | — |
More for people moving to New Richmond
New Richmond ZIP code ›Weather and climate ›Living in New Richmond: FAQ
What is the median household income in New Richmond, IN?
The median household income in New Richmond is $80,329, 12% higher than the Indiana median of $71,957 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in New Richmond?
The median home value in New Richmond is $89,200, compared with $218,200 in Indiana.
How much is rent in New Richmond?
The median gross rent in New Richmond is $875 per month, about 16.3% of household income.
Is New Richmond, IN a good place to live?
Pluses: median household income 12% higher than the Indiana median; home values 59% lower than the state median; unemployment of 3.5%; a poverty rate of 6.9%. Minuses: an average commute of 45 minutes.
What is the median age in New Richmond?
The median age in New Richmond is 37.7 years (Indiana: 38.1).
How long is the commute in New Richmond?
The average commute to work in New Richmond is 45 minutes; 6.4% of workers work from home.
What is the unemployment rate in New Richmond?
The unemployment rate in New Richmond is 3.5% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is New Richmond?
11.3% of adults in New 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.
Last updated: