Richland, WA—99352
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Richland, WA
Home Price Trends — Richland, WA
As of Oct '25, the median home price in Richland, WA is $500,000, with a year-over-year change of 0.2%. This indicates that home prices in Richland, WA are flat. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $500,000 | 0.2% |
| Single Family | $504,000 | 0.0% |
| Condos | $376,000 | 2.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $298,000 | 0.0% |
3 Bed | $441,000 | 0.2% |
4 Bed | $566,000 | 0.2% |
| 5 Bed | $660,000 | 0.0% |
% of Housing Stock
Rental Trends — Richland, WA
As of July '25, Rentcast reports the average rent in Richland, WA is $2,190, with a year-over-year rent change of 5.3%. Per bedroom, the median rent as of July '25 in Richland, WA is studios: $1,700, 1-bedrooms: $1,430, 2-bedrooms: $1,670, 3-bedrooms: $2,300, 4-bedrooms: $2,990. The most common rental property sizes in Richland, WA are 2-bedroom and 1-bedroom, accounting for 46.6% and 24.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,020 | $2,190 |
| Studio Rent | $1,600 | $1,700 |
| 1 Bed Rent | $1,480 | $1,430 |
| 2 Bed Rent | $1,600 | $1,670 |
| 3 Bed Rent | $2,300 | $2,300 |
| 4 Bed Rent | $2,700 | $2,990 |
% of Rental Stock
Property Listings — Richland, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Richland, WA is 70. This is a increase of 12.0% 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 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $571,000 | -3.0% |
Listing Count | 268 | 31.0% |
| Listings as % of Homes | 1.1% | 31.0% |
Days on Market | 70 | 12.0% |
Demographics — Richland, WA
As of the latest ACS Survey released in 2023, Richland, WA has a population of 36,600, which has increased by 16.1% over the past 5 years. Richland, WA is a moderately popular place for families, as children make up 24.0% of the population. The area has a highly educated workforce, with 48.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 36,600 | 16.1% |
% Under 18 | 24.0% | 6.2% |
% Seniors | 16.9% | 0.6% |
% WFH | 15.3% | 150.8% |
% w/ College Degree | 48.4% | 8.5% |
As of the latest ACS Survey released in 2023, Richland, WA is a predominantly white area, with 72.9% of the population identifying as white. The white population has shrunk by 7.0% in the last 5 years. The second most common race or ethnicity in Richland, WA is hispanic, making up 14.0% of the population. Foreign-born residents account for 8.9% of the population in Richland, WA, and this percentage has increased by 11.2% 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 | 72.9% | -7.0% |
% Black | 2.0% | 25.0% |
% Hispanic | 14.0% | 32.1% |
% Asian | 7.2% | 56.5% |
% Foreign Born | 8.9% | 11.2% |
Mortgage and Risk — Richland, WA
According to HUD data as of 2023, there were 879 mortgage originations in Richland, WA, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Richland, WA. Investor activity is low, as 1.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 879 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Richland, WA
As of 2024, the percent of homes in Richland, WA under the Section 8 program is 4.8%. 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. 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Richland, WA, because HUD payments exceed market rent, while 1-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 361 |
Total Units Section 8 | 249 |
% Rentals under Section 8 | 4.8% |
% Occupied Section 8 | 72.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$60 | $1,480 | $1,420 |
| 2 Bedroom | $130 | $1,600 | $1,730 |
| 3 Bedroom | $10 | $2,300 | $2,310 |
| 4 Bedroom | -$30 | $2,700 | $2,670 |
Affordability — Richland, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5 |
| Median Home Price | $500,000 |
| Median Household Income | $96,900 |