Richfield, OH—44286
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Richfield, OH
As of Oct '25, the median home price in Richfield, OH is $478,000, with a year-over-year change of 3.4%. This indicates that home prices in Richfield, OH are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $478,000 | 3.4% |
| Single Family | $486,000 | 3.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $279,000 | 3.3% |
3 Bed | $362,000 | 3.4% |
4 Bed | $672,000 | 4.0% |
| 5 Bed | $905,000 | 2.8% |
% of Housing Stock
Rental Trends — Richfield, OH
Richfield, OH lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,900 | $2,550 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,900 | $2,550 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Richfield, OH
As of Oct '25, Realtor.com reports that the median days on market for a home in Richfield, OH is 43. This is a decrease of -41.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,020,000 | -17.0% |
Listing Count | 24 | -16.0% |
| Listings as % of Homes | 0.8% | -16.0% |
Days on Market | 43 | -41.0% |
Demographics — Richfield, OH
As of the latest ACS Survey released in 2023, Richfield, OH has a population of 6,150, which has remained stable by -0.7% over the past 5 years. Richfield, OH is a moderately popular place for families, as children make up 16.0% of the population. The area has a highly educated workforce, with 49.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,150 | -0.7% |
% Under 18 | 16.0% | -18.4% |
% Seniors | 27.4% | 22.3% |
% WFH | 21.6% | 380.0% |
% w/ College Degree | 49.8% | 5.1% |
As of the latest ACS Survey released in 2023, Richfield, OH is a predominantly white area, with 88.3% of the population identifying as white. The white population has shrunk by 6.7% in the last 5 years. The second most common race or ethnicity in Richfield, OH is black, making up 2.3% of the population. Foreign-born residents account for 5.9% of the population in Richfield, OH, and this percentage has increased by 22.9% 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 | 88.3% | -6.7% |
% Black | 2.3% | 21.1% |
% Hispanic | 0.7% | 133.3% |
% Asian | 2.2% | 100.0% |
% Foreign Born | 5.9% | 22.9% |
Mortgage and Risk — Richfield, OH
According to HUD data as of 2023, there were 156 mortgage originations in Richfield, OH, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Richfield, OH. Investor activity is low, as 2.0% 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 | 156 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Richfield, OH
Richfield, OH lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 2 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | 1.3% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,080 |
| 2 Bedroom | N/A | N/A | $1,390 |
| 3 Bedroom | -$180 | $1,900 | $1,720 |
| 4 Bedroom | N/A | N/A | $1,850 |
Affordability — Richfield, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $478,000 |
| Median Household Income | $115,000 |