Cost of Living in Richmond, KY
Population: 35,498 • 2026 Data
$48,223
Median Household Income
-38% vs national
$860
Median Monthly Rent
-36% vs national
$205,900
Median Home Value
-39% vs national
6.7%
Unemployment Rate
Housing in Richmond
The median home value in Richmond, KY is $205,900. Monthly rent for a typical unit averages $860, while total monthly housing costs (including utilities and insurance) average $911.
Rent-to-income ratio: 21.4%. 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, KY is $48,223. The unemployment rate stands at 6.7%, with a labor force of 20,103 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.