Living in Richardson, Texas
Cost of living, income, home prices, rent and demographics of Richardson · Census data 2020–2024
Richardson has 118,731 residents with a median age of 33.9. The median household income is $98,111 (25% higher than the Texas median), the median home value is $431,400, the median rent is $1,857/month.
Richardson at a glance
- Population
- 118,731
- Median age
- 33.9State: 35.6
- Median household income
- $98,111State: $78,476
- Median home value
- $431,400State: $283,800
- Median rent
- $1,857/moState: $1,403
- Homeowners
- 50.7%
- Bachelor's degree or higher
- 57%
- Average commute
- 24 min
Is Richardson a good place to live?
Pros: Median household income 25% higher than the Texas median; an average commute of 24 minutes; unemployment of 5%; a poverty rate of 9.7%.
Cons: Home values 52% higher than the state median.
The weather is best in March to May and October.
Cost of living in Richardson
Housing is the biggest part of the cost of living. In Richardson the median home value is $431,400, 30% higher than the U.S. median. Renters pay a median of $1,857 per month, which is 30.1% of household income. Homeowners with a mortgage pay $2,524 a month in housing costs.
Richardson median household income
The median household income in Richardson is $98,111 and the income per person is $51,863. 9.7% of residents live below the poverty line (Texas: 13.8%).
Housing in Richardson: homes for sale and rent
- Housing units
- 47,960
- Owner-occupied
- 50.7%
- Renter-occupied
- 49.3%
- Vacant
- 4.5%Includes seasonal homes
- Median year built
- 1986
- Average household size
- 2.48
Richardson demographics
- Population
- 118,731
- Median age
- 33.9
- Under 18
- 20.2%
- 65 and older
- 13%
- Households
- 45,818
- Foreign-born
- 22.4%
- Veterans
- 4.6%Adults 18+
Hispanic or Latino can be of any race. Population history of Richardson ›
Education in Richardson
57% of adults 25 and older in Richardson have a bachelor's degree or higher (Texas: 33.8%), and 23.6% have a graduate or professional degree.
Jobs and commute in Richardson
- Unemployment rate
- 5%State: 5.3%
- Average commute
- 24 minState: 27 min
- Work from home
- 24.9%
- Drive alone
- 61.5%
- Public transit
- 1.8%
- Walk to work
- 2.9%
- Homes with broadband
- 94.9%
Richardson vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Richardson | 118,731 | $98,111 | $431,400 | $1,857 |
| Plano | 290,594 | $112,253 | $465,900 | $1,841 |
| Garland | 246,844 | $76,320 | $270,800 | $1,641 |
| Murphy | 21,188 | $175,699 | $555,500 | $2,847 |
| Addison | 17,290 | $73,854 | $482,000 | $1,784 |
| Sachse | 30,491 | $131,808 | $406,200 | $1,798 |
| Parker | 5,999 | $229,080 | $859,600 | — |
| Allen | 110,265 | $130,901 | $464,100 | $1,932 |
| University Park | 25,155 | $250,001 | $1,861,800 | $3,272 |
More for people moving to Richardson
Richardson ZIP code ›Weather and climate ›Living in Richardson: FAQ
What is the median household income in Richardson, TX?
The median household income in Richardson is $98,111, 25% higher than the Texas median of $78,476 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Richardson?
The median home value in Richardson is $431,400, compared with $283,800 in Texas.
How much is rent in Richardson?
The median gross rent in Richardson is $1,857 per month, about 30.1% of household income.
Is Richardson, TX a good place to live?
Pluses: median household income 25% higher than the Texas median; an average commute of 24 minutes; unemployment of 5%; a poverty rate of 9.7%. Minuses: home values 52% higher than the state median.
What is the median age in Richardson?
The median age in Richardson is 33.9 years (Texas: 35.6).
How long is the commute in Richardson?
The average commute to work in Richardson is 24 minutes; 24.9% of workers work from home.
What is the unemployment rate in Richardson?
The unemployment rate in Richardson is 5% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Richardson?
57% of adults in Richardson 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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