Richland, WA—99354
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 $413,000, with a year-over-year change of 0.8%. This indicates that home prices in Richland, WA are flat. According to Zillow, the 1-year price projection is 0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $413,000 | 0.8% |
| Single Family | $416,000 | 0.7% |
| Condos | $313,000 | 1.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $285,000 | 0.0% |
3 Bed | $385,000 | 0.5% |
4 Bed | $467,000 | 1.1% |
| 5 Bed | $501,000 | 0.2% |
% of Housing Stock
Rental Trends — Richland, WA
As of July '25, Rentcast reports the average rent in Richland, WA is $1,620, with a year-over-year rent change of -14.7%. Per bedroom, the median rent as of July '25 in Richland, WA is studios: $1,020, 1-bedrooms: $1,220, 2-bedrooms: $1,400, 3-bedrooms: $1,830, 4-bedrooms: $2,220. The most common rental property sizes in Richland, WA are 2-bedroom and 1-bedroom, accounting for 38.6% and 25.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,620 |
| Studio Rent | $850 | $1,020 |
| 1 Bed Rent | $1,180 | $1,220 |
| 2 Bed Rent | $1,440 | $1,400 |
| 3 Bed Rent | $1,800 | $1,830 |
| 4 Bed Rent | $2,200 | $2,220 |
% 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 61. This is a decrease of -8.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $545,000 | -7.0% |
Listing Count | 75 | 16.0% |
| Listings as % of Homes | 0.4% | 16.0% |
Days on Market | 61 | -8.0% |
Demographics — Richland, WA
As of the latest ACS Survey released in 2023, Richland, WA has a population of 25,600, which has increased by 11.3% over the past 5 years. Richland, WA is a moderately popular place for families, as children make up 24.2% of the population. The area has a moderately educated workforce, with 42.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,600 | 11.3% |
% Under 18 | 24.2% | -5.8% |
% Seniors | 16.6% | 9.2% |
% WFH | 13.0% | 271.4% |
% w/ College Degree | 42.1% | 3.7% |
As of the latest ACS Survey released in 2023, Richland, WA is a predominantly white area, with 74.5% of the population identifying as white. The white population has shrunk by 2.6% in the last 5 years. The second most common race or ethnicity in Richland, WA is hispanic, making up 14.4% of the population. Foreign-born residents account for 6.3% of the population in Richland, WA, and this percentage has decreased by 29.2% 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 | 74.5% | -2.6% |
% Black | 0.6% | -80.0% |
% Hispanic | 14.4% | 26.3% |
% Asian | 4.2% | -16.0% |
% Foreign Born | 6.3% | -29.2% |
Mortgage and Risk — Richland, WA
According to HUD data as of 2023, there were 420 mortgage originations in Richland, WA, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 35.0% 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. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 420 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Richland, WA
As of 2024, the percent of homes in Richland, WA under the Section 8 program is 10.1%. 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 Richland, WA, 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 | 398 |
Total Units Section 8 | 398 |
% Rentals under Section 8 | 10.1% |
% Occupied Section 8 | 88.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $130 | $1,180 | $1,310 |
| 2 Bedroom | $150 | $1,440 | $1,590 |
| 3 Bedroom | $320 | $1,800 | $2,120 |
| 4 Bedroom | $250 | $2,200 | $2,450 |
Affordability — Richland, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.5 |
| Median Home Price | $413,000 |
| Median Household Income | $88,600 |