Richmond, TX—77406
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Richmond, TX
Home Price Trends — Richmond, TX
As of Oct '25, the median home price in Richmond, TX is $423,000, with a year-over-year change of -2.3%. This indicates that home prices in Richmond, TX are decreasing. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $423,000 | -2.3% |
| Single Family | $423,000 | -2.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $274,000 | -3.2% |
3 Bed | $328,000 | -3.0% |
4 Bed | $437,000 | -2.2% |
| 5 Bed | $628,000 | -0.9% |
% of Housing Stock
Rental Trends — Richmond, TX
As of July '25, Rentcast reports the average rent in Richmond, TX is $2,440, with a year-over-year rent change of -3.2%. Per bedroom, the median rent as of July '25 in Richmond, TX is studios: $965, 1-bedrooms: $1,280, 2-bedrooms: $1,790, 3-bedrooms: $2,330, 4-bedrooms: $2,820. The most common rental property sizes in Richmond, TX are 2-bedroom and 4-bedroom, accounting for 34.8% and 21.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $2,440 |
| Studio Rent | $923 | $965 |
| 1 Bed Rent | $1,230 | $1,280 |
| 2 Bed Rent | $1,880 | $1,790 |
| 3 Bed Rent | $2,320 | $2,330 |
| 4 Bed Rent | $2,750 | $2,820 |
% of Rental Stock
Property Listings — Richmond, TX
As of Oct '25, Realtor.com reports that the median days on market for a home in Richmond, TX is 61. 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 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $457,000 | -4.0% |
Listing Count | 602 | 31.0% |
| Listings as % of Homes | 1.4% | 31.0% |
Days on Market | 61 | 27.0% |
Demographics — Richmond, TX
As of the latest ACS Survey released in 2023, Richmond, TX has a population of 65,700, which has increased by 40.3% over the past 5 years. Richmond, TX is a popular place for families, as children make up 26.3% of the population. The area has a highly educated workforce, with 48.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 65,700 | 40.3% |
% Under 18 | 26.3% | 1.5% |
% Seniors | 13.5% | 29.8% |
% WFH | 16.2% | 165.6% |
% w/ College Degree | 48.6% | 7.5% |
As of the latest ACS Survey released in 2023, Richmond, TX is a predominantly white area, with 42.6% of the population identifying as white. The white population has shrunk by 23.9% in the last 5 years. The second most common race or ethnicity in Richmond, TX is hispanic, making up 26.1% of the population. Foreign-born residents account for 16.6% of the population in Richmond, TX, and this percentage has increased by 7.1% 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 | 42.6% | -23.9% |
% Black | 14.0% | 35.9% |
% Hispanic | 26.1% | 13.5% |
% Asian | 12.0% | 33.3% |
% Foreign Born | 16.6% | 7.1% |
Mortgage and Risk — Richmond, TX
According to HUD data as of 2023, there were 1353 mortgage originations in Richmond, TX, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Richmond, TX. Investor activity is low, as 1.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,353 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Richmond, TX
As of 2024, the percent of homes in Richmond, TX under the Section 8 program is 0.4%. 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, TX, 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 | 19 |
Total Units Section 8 | 19 |
% Rentals under Section 8 | 0.4% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $460 | $1,230 | $1,690 |
| 2 Bedroom | $140 | $1,880 | $2,020 |
| 3 Bedroom | $370 | $2,320 | $2,690 |
| 4 Bedroom | $640 | $2,750 | $3,390 |
Affordability — Richmond, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $423,000 |
| Median Household Income | $143,000 |