Richlands, NC—28574
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Richlands, NC
As of Oct '25, the median home price in Richlands, NC is $267,000, with a year-over-year change of 3.6%. This indicates that home prices in Richlands, NC are increasing. According to Zillow, the 1-year price projection is 3.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $267,000 | 3.7% |
| Single Family | $267,000 | 3.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $169,000 | 3.7% |
3 Bed | $266,000 | 4.3% |
4 Bed | $320,000 | 3.6% |
| 5 Bed | $377,000 | 2.4% |
% of Housing Stock
Rental Trends — Richlands, NC
As of July '25, Rentcast reports the average rent in Richlands, NC is $1,560, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Richlands, NC is 1-bedrooms: $995, 2-bedrooms: $1,120, 3-bedrooms: $1,650, 4-bedrooms: $2,000. The most common rental property sizes in Richlands, NC are 3-bedroom and 2-bedroom, accounting for 62.8% and 21.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,650 | $1,560 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $995 | $995 |
| 2 Bed Rent | $1,100 | $1,120 |
| 3 Bed Rent | $1,700 | $1,650 |
| 4 Bed Rent | $1,950 | $2,000 |
% of Rental Stock
Property Listings — Richlands, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Richlands, NC is 57. This is a increase of 10.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 16.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $302,000 | 1.0% |
Listing Count | 127 | -28.0% |
| Listings as % of Homes | 1.2% | -28.0% |
Days on Market | 57 | 10.0% |
Demographics — Richlands, NC
As of the latest ACS Survey released in 2023, Richlands, NC has a population of 20,600, which has increased by 13.9% over the past 5 years. Richlands, NC is a popular place for families, as children make up 33.8% of the population. The area has a poorly educated workforce, with 19.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,600 | 13.9% |
% Under 18 | 33.8% | 15.4% |
% Seniors | 8.2% | -12.8% |
% WFH | 7.0% | 62.8% |
% w/ College Degree | 19.6% | 43.1% |
As of the latest ACS Survey released in 2023, Richlands, NC is a predominantly white area, with 73.9% of the population identifying as white. The white population has shrunk by 1.9% in the last 5 years. The second most common race or ethnicity in Richlands, NC is hispanic, making up 8.5% of the population. Foreign-born residents account for 2.2% of the population in Richlands, NC, and this percentage has decreased by 15.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 73.9% | -1.9% |
% Black | 7.0% | -32.7% |
% Hispanic | 8.5% | -14.1% |
% Asian | 1.0% | 11.1% |
% Foreign Born | 2.2% | -15.4% |
Mortgage and Risk — Richlands, NC
According to HUD data as of 2023, there were 627 mortgage originations in Richlands, NC, of which 30.0% of loans were conventional mortgages. The average loan-to-value was 83.0%, with 61.0% above 90% LTV (very high). This implies large mortgage risk in Richlands, NC. Investor activity is low, as 1.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 627 |
% Conventional Loans | 30.0% |
% Government Loans | 70.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Richlands, NC
As of 2024, the percent of homes in Richlands, NC under the Section 8 program is 1.2%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Richlands, NC, because HUD payments exceed market rent, while 1-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 32 |
Total Units Section 8 | 32 |
% Rentals under Section 8 | 1.2% |
% Occupied Section 8 | 60.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$15 | $995 | $980 |
| 2 Bedroom | $110 | $1,100 | $1,210 |
| 3 Bedroom | $10 | $1,700 | $1,710 |
| 4 Bedroom | $100 | $1,950 | $2,050 |
Affordability — Richlands, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $267,000 |
| Median Household Income | $66,600 |