Richmond, CA—94803
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Richmond, CA
As of Oct '25, the median home price in Richmond, CA is $717,000, with a year-over-year change of -7.9%. This indicates that home prices in Richmond, CA are decreasing. According to Zillow, the 1-year price projection is -2.7%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $717,000 | -7.9% |
| Single Family | $736,000 | -7.9% |
| Condos | $358,000 | -8.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $276,000 | -11.3% |
2 Bed | $479,000 | -11.1% |
3 Bed | $697,000 | -8.2% |
4 Bed | $840,000 | -6.8% |
| 5 Bed | $943,000 | -6.2% |
% of Housing Stock
Rental Trends — Richmond, CA
As of July '25, Rentcast reports the average rent in Richmond, CA is $2,670, with a year-over-year rent change of -3.6%. Per bedroom, the median rent as of July '25 in Richmond, CA is studios: $1,800, 1-bedrooms: $2,140, 2-bedrooms: $2,690, 3-bedrooms: $3,470, 4-bedrooms: $3,600. The most common rental property sizes in Richmond, CA are 2-bedroom and 3-bedroom, accounting for 43.6% and 33.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,550 | $2,670 |
| Studio Rent | $1,800 | $1,800 |
| 1 Bed Rent | $2,370 | $2,140 |
| 2 Bed Rent | $2,750 | $2,690 |
| 3 Bed Rent | $3,500 | $3,470 |
| 4 Bed Rent | $3,600 | $3,600 |
% of Rental Stock
Property Listings — Richmond, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Richmond, CA is 50. This is a increase of 20.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $752,000 | -8.0% |
Listing Count | 59 | -2.0% |
| Listings as % of Homes | 0.3% | -2.0% |
Days on Market | 50 | 20.0% |
Demographics — Richmond, CA
As of the latest ACS Survey released in 2023, Richmond, CA has a population of 27,600, which has increased by 5.4% over the past 5 years. Richmond, CA is a moderately popular place for families, as children make up 18.1% of the population. The area has a moderately educated workforce, with 40.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 27,600 | 5.4% |
% Under 18 | 18.1% | 4.0% |
% Seniors | 21.5% | 15.6% |
% WFH | 14.0% | 129.5% |
% w/ College Degree | 40.4% | 8.0% |
As of the latest ACS Survey released in 2023, Richmond, CA is a predominantly hispanic area, with 30.0% of the population identifying as hispanic. The hispanic population has grown by 24.5% in the last 5 years. The second most common race or ethnicity in Richmond, CA is white, making up 27.4% of the population. Foreign-born residents account for 31.7% of the population in Richmond, CA, and this percentage has increased by 17.4% 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 | 27.4% | -20.1% |
% Black | 12.6% | -3.8% |
% Hispanic | 30.0% | 24.5% |
% Asian | 23.6% | 5.4% |
% Foreign Born | 31.7% | 17.4% |
Mortgage and Risk — Richmond, CA
According to HUD data as of 2023, there were 261 mortgage originations in Richmond, CA, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 15.0% above 90% LTV (elevated). This implies medium mortgage risk in Richmond, CA. Investor activity is low, as 4.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 261 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Richmond, CA
As of 2024, the percent of homes in Richmond, CA under the Section 8 program is 7.8%. 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. 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Richmond, CA, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 285 |
Total Units Section 8 | 228 |
% Rentals under Section 8 | 7.8% |
% Occupied Section 8 | 89.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$330 | $2,370 | $2,040 |
| 2 Bedroom | -$270 | $2,750 | $2,480 |
| 3 Bedroom | -$330 | $3,500 | $3,170 |
| 4 Bedroom | $170 | $3,600 | $3,770 |
Affordability — Richmond, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.6 |
| Median Home Price | $717,000 |
| Median Household Income | $116,000 |