Living in Richfield, Minnesota
Cost of living, income, home prices, rent and demographics of Richfield · Census data 2020–2024
Richfield has 36,642 residents with a median age of 39.4. The median household income is $85,132 (4% lower than the Minnesota median), the median home value is $344,000, the median rent is $1,393/month.
Richfield at a glance
- Population
- 36,642
- Median age
- 39.4State: 38.8
- Median household income
- $85,132State: $89,062
- Median home value
- $344,000State: $329,300
- Median rent
- $1,393/moState: $1,280
- Homeowners
- 61.6%
- Bachelor's degree or higher
- 43.7%
- Average commute
- 23 min
Is Richfield a good place to live?
Pros: A poverty rate of 8.2%.
Cons: Median household income 4% lower than the Minnesota median; home values 4% higher than the state median; an average commute of 23 minutes; unemployment of 5.3%.
The weather is best in June to September.
Cost of living in Richfield
Housing is the biggest part of the cost of living. In Richfield the median home value is $344,000, 3% higher than the U.S. median. Renters pay a median of $1,393 per month, which is 26.8% of household income. Homeowners with a mortgage pay $1,983 a month in housing costs.
Richfield median household income
The median household income in Richfield is $85,132 and the income per person is $47,856. 8.2% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Richfield: homes for sale and rent
- Housing units
- 17,183
- Owner-occupied
- 61.6%
- Renter-occupied
- 38.4%
- Vacant
- 3.7%Includes seasonal homes
- Median year built
- 1959
- Average household size
- 2.19
Richfield demographics
- Population
- 36,642
- Median age
- 39.4
- Under 18
- 18.2%
- 65 and older
- 19.1%
- Households
- 16,547
- Foreign-born
- 16.9%
- Veterans
- 4.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Richfield ›
Education in Richfield
43.7% of adults 25 and older in Richfield have a bachelor's degree or higher (Minnesota: 39.4%), and 12.5% have a graduate or professional degree.
Jobs and commute in Richfield
- Unemployment rate
- 5.3%State: 4.1%
- Average commute
- 23 minState: 23 min
- Work from home
- 18.7%
- Drive alone
- 65.3%
- Public transit
- 3.5%
- Walk to work
- 2%
- Homes with broadband
- 91.6%
Richfield vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Richfield | 36,642 | $85,132 | $344,000 | $1,393 |
| Bloomington | 88,665 | $93,211 | $361,700 | $1,561 |
| Edina | 53,262 | $128,767 | $646,300 | $1,844 |
| Mendota | 207 | $111,250 | $320,000 | $875 |
| Minneapolis | 427,246 | $80,846 | $362,200 | $1,371 |
| St. Louis Park | 49,594 | $101,648 | $386,800 | $1,644 |
| Hopkins | 18,819 | $75,234 | $375,600 | $1,468 |
| Eagan | 68,000 | $108,690 | $397,100 | $1,679 |
| Mendota Heights | 11,612 | $132,768 | $520,300 | $1,631 |
More for people moving to Richfield
Richfield ZIP code ›Weather and climate ›Living in Richfield: FAQ
What is the median household income in Richfield, MN?
The median household income in Richfield is $85,132, 4% lower than the Minnesota median of $89,062 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Richfield?
The median home value in Richfield is $344,000, compared with $329,300 in Minnesota.
How much is rent in Richfield?
The median gross rent in Richfield is $1,393 per month, about 26.8% of household income.
Is Richfield, MN a good place to live?
Pluses: a poverty rate of 8.2%. Minuses: median household income 4% lower than the Minnesota median; home values 4% higher than the state median; an average commute of 23 minutes; unemployment of 5.3%.
What is the median age in Richfield?
The median age in Richfield is 39.4 years (Minnesota: 38.8).
How long is the commute in Richfield?
The average commute to work in Richfield is 23 minutes; 18.7% of workers work from home.
What is the unemployment rate in Richfield?
The unemployment rate in Richfield is 5.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Richfield?
43.7% of adults in Richfield 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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