Richmond, RI—02894
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Richmond, RI
As of Oct '25, the median home price in Richmond, RI is $487,000, with a year-over-year change of 3.4%. This indicates that home prices in Richmond, RI are increasing. According to Zillow, the 1-year price projection is 2.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $487,000 | 3.4% |
| Single Family | $487,000 | 3.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $493,000 | 3.4% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Richmond, RI
Richmond, RI 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
No data available
Property Listings — Richmond, RI
As of Oct '25, Realtor.com reports that the median days on market for a home in Richmond, RI is 56. This is a decrease of -43.0% 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 | $550,000 | 45.0% |
Listing Count | 3 | 33.0% |
| Listings as % of Homes | 0.8% | 33.0% |
Days on Market | 56 | -43.0% |
Demographics — Richmond, RI
As of the latest ACS Survey released in 2023, Richmond, RI has a population of 554, which has decreased by -17.8% over the past 5 years. Richmond, RI is a less popular place for families, as children make up 6.0% of the population. The area has a highly educated workforce, with 45.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 554 | -17.8% |
% Under 18 | 6.0% | -52.0% |
% Seniors | 19.5% | 59.8% |
% WFH | 3.5% | ∞% |
% w/ College Degree | 45.7% | 246.2% |
As of the latest ACS Survey released in 2023, Richmond, RI is a predominantly white area, with 100.0% of the population identifying as white. The white population has grown by 5.6% in the last 5 years. The second most common race or ethnicity in Richmond, RI is black, making up 0.0% of the population. Foreign-born residents account for 6.5% of the population in Richmond, RI, and this percentage has increased by 22.6% 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 | 100.0% | 5.6% |
% Black | 0.0% | N/A |
% Hispanic | 0.0% | N/A |
% Asian | 0.0% | -100.0% |
% Foreign Born | 6.5% | 22.6% |
Mortgage and Risk — Richmond, RI
Richmond, RI lacks sufficient mortgage origination data for analysis.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | N/A |
% Conventional Loans | N/A |
% Government Loans | N/A |
% Investor Loans | N/A |
% Second Loans | N/A |
% Cash Out Refinance | N/A |
Loan Activity
No data available
Rentals and Section 8 — Richmond, RI
Richmond, RI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | ∞% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,400 |
| 2 Bedroom | N/A | N/A | $1,710 |
| 3 Bedroom | N/A | N/A | $2,090 |
| 4 Bedroom | N/A | N/A | $2,570 |
Affordability — Richmond, RI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.2 |
| Median Home Price | $487,000 |
| Median Household Income | N/A |