Living in Richmond, Michigan
Cost of living, income, home prices, rent and demographics of Richmond · Census data 2020–2024
Richmond has 5,855 residents with a median age of 39.7. The median household income is $64,719 (11% lower than the Michigan median), the median home value is $237,700, the median rent is $864/month.
Richmond at a glance
- Population
- 5,855
- Median age
- 39.7State: 40.2
- Median household income
- $64,719State: $72,875
- Median home value
- $237,700State: $231,600
- Median rent
- $864/moState: $1,129
- Homeowners
- 76.6%
- Bachelor's degree or higher
- 25.1%
- Average commute
- 26 min
Is Richmond a good place to live?
Cons: Median household income 11% lower than the Michigan median; home values about the same as the state median; an average commute of 26 minutes; unemployment of 11.5%; a poverty rate of 13.5%.
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 $237,700, 29% lower than the U.S. median. Renters pay a median of $864 per month, which is 46.5% of household income. Homeowners with a mortgage pay $1,382 a month in housing costs.
Richmond median household income
The median household income in Richmond is $64,719 and the income per person is $34,492. 13.5% of residents live below the poverty line (Michigan: 13.2%).
Housing in Richmond: homes for sale and rent
- Housing units
- 2,514
- Owner-occupied
- 76.6%
- Renter-occupied
- 23.4%
- Vacant
- 2.3%Includes seasonal homes
- Median year built
- 1980
- Average household size
- 2.32
Richmond demographics
- Population
- 5,855
- Median age
- 39.7
- Under 18
- 22.8%
- 65 and older
- 17.1%
- Households
- 2,456
- Foreign-born
- 6%
- Veterans
- 7.3%Adults 18+
Hispanic or Latino can be of any race. Population history of Richmond ›
Education in Richmond
25.1% of adults 25 and older in Richmond have a bachelor's degree or higher (Michigan: 32.4%), and 10.1% have a graduate or professional degree.
Jobs and commute in Richmond
- Unemployment rate
- 11.5%State: 5.7%
- Average commute
- 26 minState: 24 min
- Work from home
- 6.3%
- Drive alone
- 81.5%
- Public transit
- 0.4%
- Walk to work
- 0%
- Homes with broadband
- 96.7%
Richmond vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Richmond | 5,855 | $64,719 | $237,700 | $864 |
| Memphis | 1,064 | $57,222 | $213,300 | $820 |
| New Haven | 6,475 | $66,125 | $209,000 | $1,268 |
| Armada | 1,994 | $102,083 | $274,300 | $1,061 |
| New Baltimore | 12,072 | $106,033 | $323,200 | $1,039 |
| Emmett | 207 | $120,074 | $145,800 | $1,000 |
| Romeo | 3,578 | $74,323 | $266,200 | $981 |
| St. Clair | 5,585 | $69,688 | $223,200 | $1,113 |
| Marine City | 4,028 | $67,683 | $159,800 | $944 |
More for people moving to Richmond
Richmond ZIP code ›Weather and climate ›Living in Richmond: FAQ
What is the median household income in Richmond, MI?
The median household income in Richmond is $64,719, 11% lower than the Michigan median of $72,875 (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 $237,700, compared with $231,600 in Michigan.
How much is rent in Richmond?
The median gross rent in Richmond is $864 per month, about 46.5% of household income.
Is Richmond, MI a good place to live?
Minuses: median household income 11% lower than the Michigan median; home values about the same as the state median; an average commute of 26 minutes; unemployment of 11.5%; a poverty rate of 13.5%.
What is the median age in Richmond?
The median age in Richmond is 39.7 years (Michigan: 40.2).
How long is the commute in Richmond?
The average commute to work in Richmond is 26 minutes; 6.3% of workers work from home.
What is the unemployment rate in Richmond?
The unemployment rate in Richmond is 11.5% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Richmond?
25.1% 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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