Richmond, CA—94804
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 $569,000, with a year-over-year change of -6.3%. 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 | $569,000 | -6.3% |
| Single Family | $586,000 | -5.8% |
| Condos | $473,000 | -8.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $381,000 | -10.8% |
2 Bed | $522,000 | -6.6% |
3 Bed | $611,000 | -6.1% |
4 Bed | $657,000 | -4.6% |
| 5 Bed | $725,000 | -5.1% |
% of Housing Stock
Rental Trends — Richmond, CA
As of July '25, Rentcast reports the average rent in Richmond, CA is $2,590, with a year-over-year rent change of -3.4%. Per bedroom, the median rent as of July '25 in Richmond, CA is studios: $1,430, 1-bedrooms: $2,040, 2-bedrooms: $2,330, 3-bedrooms: $3,490, 4-bedrooms: $4,550. The most common rental property sizes in Richmond, CA are 2-bedroom and 1-bedroom, accounting for 43.2% and 25.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,590 |
| Studio Rent | $1,550 | $1,430 |
| 1 Bed Rent | $2,020 | $2,040 |
| 2 Bed Rent | $2,200 | $2,330 |
| 3 Bed Rent | $3,600 | $3,490 |
| 4 Bed Rent | $4,300 | $4,550 |
% 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 41. This is a increase of 2.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $561,000 | -5.0% |
Listing Count | 83 | 2.0% |
| Listings as % of Homes | 0.3% | 2.0% |
Days on Market | 41 | 2.0% |
Demographics — Richmond, CA
As of the latest ACS Survey released in 2023, Richmond, CA has a population of 44,700, which has increased by 7.6% over the past 5 years. Richmond, CA is a moderately popular place for families, as children make up 22.5% of the population. The area has a moderately educated workforce, with 32.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 44,700 | 7.6% |
% Under 18 | 22.5% | -1.7% |
% Seniors | 12.8% | 19.6% |
% WFH | 11.3% | 151.1% |
% w/ College Degree | 32.5% | 20.8% |
As of the latest ACS Survey released in 2023, Richmond, CA is a predominantly hispanic area, with 46.6% of the population identifying as hispanic. The hispanic population has grown by 17.7% in the last 5 years. The second most common race or ethnicity in Richmond, CA is black, making up 19.8% of the population. Foreign-born residents account for 33.7% of the population in Richmond, CA, and this percentage has increased by 2.7% 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 | 17.1% | 2.4% |
% Black | 19.8% | -17.8% |
% Hispanic | 46.6% | 17.7% |
% Asian | 10.7% | -23.0% |
% Foreign Born | 33.7% | 2.7% |
Mortgage and Risk — Richmond, CA
According to HUD data as of 2023, there were 377 mortgage originations in Richmond, CA, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Richmond, CA. Investor activity is low, as 3.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 377 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Richmond, CA
As of 2024, the percent of homes in Richmond, CA under the Section 8 program is 15.8%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-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 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,540 |
Total Units Section 8 | 1,273 |
% Rentals under Section 8 | 15.8% |
% Occupied Section 8 | 90.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$100 | $2,020 | $1,920 |
| 2 Bedroom | $140 | $2,200 | $2,340 |
| 3 Bedroom | -$590 | $3,600 | $3,010 |
| 4 Bedroom | -$740 | $4,300 | $3,560 |
Affordability — Richmond, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.2 |
| Median Home Price | $569,000 |
| Median Household Income | $86,400 |