Richmond, TX—77407
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 $381,000, with a year-over-year change of -2.4%. This indicates that home prices in Richmond, TX are decreasing. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $381,000 | -2.4% |
| Single Family | $382,000 | -2.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $311,000 | -2.8% |
4 Bed | $402,000 | -2.7% |
| 5 Bed | $554,000 | -1.8% |
% of Housing Stock
Rental Trends — Richmond, TX
As of July '25, Rentcast reports the average rent in Richmond, TX is $2,200, with a year-over-year rent change of -1.3%. Per bedroom, the median rent as of July '25 in Richmond, TX is studios: $1,300, 1-bedrooms: $1,380, 2-bedrooms: $1,950, 3-bedrooms: $2,340, 4-bedrooms: $2,680. The most common rental property sizes in Richmond, TX are 3-bedroom and 2-bedroom, accounting for 28.7% and 23.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,250 | $2,200 |
| Studio Rent | $1,300 | $1,300 |
| 1 Bed Rent | $1,390 | $1,380 |
| 2 Bed Rent | $1,890 | $1,950 |
| 3 Bed Rent | $2,300 | $2,340 |
| 4 Bed Rent | $2,600 | $2,680 |
% 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 47. This is a increase of 9.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $419,000 | 0.0% |
Listing Count | 365 | 28.0% |
| Listings as % of Homes | 0.6% | 28.0% |
Days on Market | 47 | 9.0% |
Demographics — Richmond, TX
As of the latest ACS Survey released in 2023, Richmond, TX has a population of 81,500, which has increased by 59.3% over the past 5 years. Richmond, TX is a popular place for families, as children make up 30.0% of the population. The area has a highly educated workforce, with 53.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 81,500 | 59.3% |
% Under 18 | 30.0% | -1.0% |
% Seniors | 7.2% | 16.1% |
% WFH | 16.6% | 196.4% |
% w/ College Degree | 53.5% | 9.6% |
As of the latest ACS Survey released in 2023, Richmond, TX is a predominantly asian area, with 33.7% of the population identifying as asian. The asian population has grown by 20.8% in the last 5 years. The second most common race or ethnicity in Richmond, TX is black, making up 27.0% of the population. Foreign-born residents account for 47.8% of the population in Richmond, TX, and this percentage has increased by 37.4% 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 | 18.2% | -38.5% |
% Black | 27.0% | 0.0% |
% Hispanic | 19.1% | 23.2% |
% Asian | 33.7% | 20.8% |
% Foreign Born | 47.8% | 37.4% |
Mortgage and Risk — Richmond, TX
According to HUD data as of 2023, there were 928 mortgage originations in Richmond, TX, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Richmond, TX. Investor activity is low, as 2.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 928 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Richmond, TX
As of 2024, the percent of homes in Richmond, TX under the Section 8 program is 1.6%. 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 | 157 |
Total Units Section 8 | 157 |
% Rentals under Section 8 | 1.6% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $330 | $1,390 | $1,720 |
| 2 Bedroom | $160 | $1,890 | $2,050 |
| 3 Bedroom | $430 | $2,300 | $2,730 |
| 4 Bedroom | $840 | $2,600 | $3,440 |
Affordability — Richmond, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $381,000 |
| Median Household Income | $102,000 |