Cost of Living in Richmond, IN
Population: 35,551 • 2026 Data
$46,395
Median Household Income
-40% vs national
$815
Median Monthly Rent
-40% vs national
$107,600
Median Home Value
-68% vs national
7.2%
Unemployment Rate
Housing in Richmond
The median home value in Richmond, IN is $107,600. Monthly rent for a typical unit averages $815, while total monthly housing costs (including utilities and insurance) average $793.
Rent-to-income ratio: 21.1%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Richmond, IN is $46,395. The unemployment rate stands at 7.2%, with a labor force of 16,315 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.