Richmond, UT—84333
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Richmond, UT
As of Oct '25, the median home price in Richmond, UT is $471,000, with a year-over-year change of 4.5%. This indicates that home prices in Richmond, UT are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $471,000 | 4.5% |
| Single Family | $471,000 | 4.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Richmond, UT
As of July '25, Rentcast reports the average rent in Richmond, UT is $2,050, with a year-over-year rent change of 32.3%. Per bedroom, the median rent as of July '25 in Richmond, UT is 4-bedrooms: $2,050. The most common rental property sizes in Richmond, UT are 5+ bedroom and 3-bedroom, accounting for 29.1% and 28.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,900 | $2,050 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $1,900 | $2,050 |
% of Rental Stock
Property Listings — Richmond, UT
As of Oct '25, Realtor.com reports that the median days on market for a home in Richmond, UT is 67. This is a increase of 32.0% 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 43.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $535,000 | -2.0% |
Listing Count | 28 | 58.0% |
| Listings as % of Homes | 1.0% | 58.0% |
Days on Market | 67 | 32.0% |
Demographics — Richmond, UT
As of the latest ACS Survey released in 2023, Richmond, UT has a population of 3,100, which has increased by 7.8% over the past 5 years. Richmond, UT is a popular place for families, as children make up 36.4% of the population. The area has a moderately educated workforce, with 32.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,100 | 7.8% |
% Under 18 | 36.4% | 7.4% |
% Seniors | 13.3% | 44.6% |
% WFH | 6.7% | 21.8% |
% w/ College Degree | 32.4% | 14.1% |
As of the latest ACS Survey released in 2023, Richmond, UT is a predominantly white area, with 90.7% of the population identifying as white. The white population has shrunk by 3.5% in the last 5 years. The second most common race or ethnicity in Richmond, UT is hispanic, making up 5.8% of the population. Foreign-born residents account for 1.4% of the population in Richmond, UT, and this percentage has decreased by 22.2% 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 | 90.7% | -3.5% |
% Black | 0.7% | ∞% |
% Hispanic | 5.8% | 87.1% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 1.4% | -22.2% |
Mortgage and Risk — Richmond, UT
According to HUD data as of 2023, there were 109 mortgage originations in Richmond, UT, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 48.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Richmond, UT. Investor activity is low, as 2.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 109 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Richmond, UT
Richmond, UT lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | 0.9% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $870 |
| 2 Bedroom | N/A | N/A | $1,100 |
| 3 Bedroom | N/A | N/A | $1,540 |
| 4 Bedroom | -$50 | $1,900 | $1,850 |
Affordability — Richmond, UT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.6 |
| Median Home Price | $471,000 |
| Median Household Income | $95,000 |