Living in Richmond, Indiana
Cost of living, income, home prices, rent and demographics of Richmond · Census data 2020–2024
Richmond has 35,581 residents with a median age of 38.6. The median household income is $45,399 (37% lower than the Indiana median), the median home value is $114,400, the median rent is $822/month.
Richmond at a glance
- Population
- 35,581
- Median age
- 38.6State: 38.1
- Median household income
- $45,399State: $71,957
- Median home value
- $114,400State: $218,200
- Median rent
- $822/moState: $1,062
- Homeowners
- 57.2%
- Bachelor's degree or higher
- 20.1%
- Average commute
- 19 min
Is Richmond a good place to live?
Pros: Home values 48% lower than the state median; an average commute of 19 minutes.
Cons: Median household income 37% lower than the Indiana median; unemployment of 6.9%; a poverty rate of 25.4%.
The weather is best in May–June and August–September.
Cost of living in Richmond
Housing is the biggest part of the cost of living. In Richmond the median home value is $114,400, 66% lower than the U.S. median. Renters pay a median of $822 per month, which is 31.6% of household income. Homeowners with a mortgage pay $1,027 a month in housing costs.
Richmond median household income
The median household income in Richmond is $45,399 and the income per person is $28,724. 25.4% of residents live below the poverty line (Indiana: 12.3%).
Housing in Richmond: homes for sale and rent
- Housing units
- 17,312
- Owner-occupied
- 57.2%
- Renter-occupied
- 42.8%
- Vacant
- 14.2%Includes seasonal homes
- Median year built
- 1957
- Average household size
- 2.27
Richmond demographics
- Population
- 35,581
- Median age
- 38.6
- Under 18
- 22.4%
- 65 and older
- 18.9%
- Households
- 14,849
- Foreign-born
- 4.1%
- Veterans
- 7.1%Adults 18+
Hispanic or Latino can be of any race. Population history of Richmond ›
Education in Richmond
20.1% of adults 25 and older in Richmond have a bachelor's degree or higher (Indiana: 29.5%), and 8.3% have a graduate or professional degree.
Jobs and commute in Richmond
- Unemployment rate
- 6.9%State: 4.3%
- Average commute
- 19 minState: 24 min
- Work from home
- 4.7%
- Drive alone
- 77.6%
- Public transit
- 0.3%
- Walk to work
- 4.7%
- Homes with broadband
- 88.2%
Richmond vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Richmond | 35,581 | $45,399 | $114,400 | $822 |
| Spring Grove | 464 | $58,359 | $126,900 | $437 |
| Webster | 132 | $75,565 | $95,100 | — |
| New Paris | 1,582 | $38,527 | $86,800 | $733 |
| Centerville | 2,772 | $49,688 | $149,200 | $839 |
| Boston | 246 | $70,893 | $75,500 | $923 |
| Abington | 175 | $65,481 | $423,000 | — |
| Fountain City | 702 | $47,802 | $96,200 | $671 |
| Greens Fork | 436 | $74,875 | $96,300 | $1,063 |
More for people moving to Richmond
Richmond ZIP code ›Weather and climate ›Living in Richmond: FAQ
What is the median household income in Richmond, IN?
The median household income in Richmond is $45,399, 37% lower 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 Richmond?
The median home value in Richmond is $114,400, compared with $218,200 in Indiana.
How much is rent in Richmond?
The median gross rent in Richmond is $822 per month, about 31.6% of household income.
Is Richmond, IN a good place to live?
Pluses: home values 48% lower than the state median; an average commute of 19 minutes. Minuses: median household income 37% lower than the Indiana median; unemployment of 6.9%; a poverty rate of 25.4%.
What is the median age in Richmond?
The median age in Richmond is 38.6 years (Indiana: 38.1).
How long is the commute in Richmond?
The average commute to work in Richmond is 19 minutes; 4.7% of workers work from home.
What is the unemployment rate in Richmond?
The unemployment rate in Richmond is 6.9% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Richmond?
20.1% 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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