Richmond Hill, GA—31324
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Richmond Hill, GA
As of Oct '25, the median home price in Richmond Hill, GA is $423,000, with a year-over-year change of -0.0%. This indicates that home prices in Richmond Hill, GA are flat. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $423,000 | -0.0% |
| Single Family | $423,000 | -0.7% |
| Condos | $440,000 | 2.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $247,000 | -2.4% |
3 Bed | $334,000 | -1.5% |
4 Bed | $456,000 | -0.7% |
| 5 Bed | $544,000 | 0.2% |
% of Housing Stock
Rental Trends — Richmond Hill, GA
As of July '25, Rentcast reports the average rent in Richmond Hill, GA is $2,420, with a year-over-year rent change of -0.8%. Per bedroom, the median rent as of July '25 in Richmond Hill, GA is 1-bedrooms: $1,600, 2-bedrooms: $1,830, 3-bedrooms: $2,180, 4-bedrooms: $2,660. The most common rental property sizes in Richmond Hill, GA are 3-bedroom and 2-bedroom, accounting for 36.8% and 26.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,350 | $2,420 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,600 | $1,600 |
| 2 Bed Rent | $1,720 | $1,830 |
| 3 Bed Rent | $2,100 | $2,180 |
| 4 Bed Rent | $2,600 | $2,660 |
% of Rental Stock
Property Listings — Richmond Hill, GA
As of Oct '25, Realtor.com reports that the median days on market for a home in Richmond Hill, GA is 75. This is a increase of 27.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $471,000 | -5.0% |
Listing Count | 331 | 11.0% |
| Listings as % of Homes | 1.3% | 11.0% |
Days on Market | 75 | 27.0% |
Demographics — Richmond Hill, GA
As of the latest ACS Survey released in 2023, Richmond Hill, GA has a population of 35,700, which has increased by 39.1% over the past 5 years. Richmond Hill, GA is a popular place for families, as children make up 31.6% of the population. The area has a moderately educated workforce, with 42.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,700 | 39.1% |
% Under 18 | 31.6% | 6.0% |
% Seniors | 9.3% | 3.3% |
% WFH | 11.3% | 205.4% |
% w/ College Degree | 42.3% | 4.2% |
As of the latest ACS Survey released in 2023, Richmond Hill, GA is a predominantly white area, with 70.2% of the population identifying as white. The white population has shrunk by 3.7% in the last 5 years. The second most common race or ethnicity in Richmond Hill, GA is black, making up 12.3% of the population. Foreign-born residents account for 6.0% of the population in Richmond Hill, GA, and this percentage has increased by 13.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 70.2% | -3.7% |
% Black | 12.3% | -8.2% |
% Hispanic | 9.3% | 5.7% |
% Asian | 2.7% | 50.0% |
% Foreign Born | 6.0% | 13.2% |
Mortgage and Risk — Richmond Hill, GA
According to HUD data as of 2023, there were 1173 mortgage originations in Richmond Hill, GA, of which 57.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 40.0% above 90% LTV (very high). This implies large mortgage risk in Richmond Hill, GA. Investor activity is low, as 3.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,173 |
% Conventional Loans | 57.0% |
% Government Loans | 43.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Richmond Hill, GA
As of 2024, the percent of homes in Richmond Hill, GA under the Section 8 program is 1.3%. 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. In Richmond Hill, GA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 34 |
Total Units Section 8 | 34 |
% Rentals under Section 8 | 1.3% |
% Occupied Section 8 | 62.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $320 | $1,600 | $1,920 |
| 2 Bedroom | $410 | $1,720 | $2,130 |
| 3 Bedroom | $770 | $2,100 | $2,870 |
| 4 Bedroom | $710 | $2,600 | $3,310 |
Affordability — Richmond Hill, GA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $423,000 |
| Median Household Income | $111,000 |