Richmond, MA—01254
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Richmond, MA
As of Nov '25, the median home price in Richmond, MA is $614,000, with a year-over-year change of 0.5%. This indicates that home prices in Richmond, MA are flat. According to Zillow, the 1-year price projection is 3.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $614,000 | 0.5% |
| Single Family | $617,000 | 0.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $436,000 | -0.2% |
3 Bed | $600,000 | 0.8% |
4 Bed | $818,000 | 1.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Richmond, MA
Richmond, MA lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| 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 | N/A | N/A |
% of Rental Stock
Property Listings — Richmond, MA
As of Nov '25, Realtor.com reports that the median days on market for a home in Richmond, MA is 72. This is a decrease of -24.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $624,000 | -31.0% |
Listing Count | 13 | 50.0% |
| Listings as % of Homes | 1.6% | 50.0% |
Days on Market | 72 | -24.0% |
Demographics — Richmond, MA
As of the latest ACS Survey released in 2023, Richmond, MA has a population of 962, which has decreased by -5.1% over the past 5 years. Richmond, MA is a less popular place for families, as children make up 9.3% of the population. The area has a highly educated workforce, with 62.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 962 | -5.1% |
% Under 18 | 9.3% | -23.1% |
% Seniors | 39.8% | 18.1% |
% WFH | 20.4% | 31.6% |
% w/ College Degree | 62.9% | 28.1% |
As of the latest ACS Survey released in 2023, Richmond, MA is a predominantly white area, with 90.0% of the population identifying as white. The white population has shrunk by 4.5% in the last 5 years. The second most common race or ethnicity in Richmond, MA is black, making up 5.4% of the population. Foreign-born residents account for 2.3% of the population in Richmond, MA, and this percentage has decreased by 52.1% 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 | 90.0% | -4.5% |
% Black | 5.4% | 440.0% |
% Hispanic | 2.1% | 600.0% |
% Asian | 0.7% | -73.1% |
% Foreign Born | 2.3% | -52.1% |
Mortgage and Risk — Richmond, MA
According to HUD data as of 2023, there were 64 mortgage originations in Richmond, MA, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 5.0% above 90% LTV (normal). This implies small mortgage risk in Richmond, MA. Investor activity is low, as 5.0% of loans were by investors. 2.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 64 |
% Conventional Loans | 98.0% |
% Government Loans | 2.0% |
% Investor Loans | 5.0% |
% Second Loans | 19.0% |
% Cash Out Refinance | 2.0% |
Rentals and Section 8 — Richmond, MA
Richmond, MA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 2 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | 10.5% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,490 |
| 2 Bedroom | N/A | N/A | $1,890 |
| 3 Bedroom | N/A | N/A | $2,440 |
| 4 Bedroom | N/A | N/A | $2,580 |
Affordability — Richmond, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.9 |
| Median Home Price | $614,000 |
| Median Household Income | $113,000 |