Richmond, KY—40385
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Richmond, KY
Home Price Trends — Richmond, KY
As of Nov '25, the median home price in Richmond, KY is $238,000, with a year-over-year change of 5.9%. This indicates that home prices in Richmond, KY are increasing. According to Zillow, the 1-year price projection is 2.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $238,000 | 5.9% |
| Single Family | $238,000 | 5.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $271,000 | 6.7% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Richmond, KY
Richmond, KY 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, KY
As of Nov '25, Realtor.com reports that the median days on market for a home in Richmond, KY is 57. This is a decrease of -31.0% 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 | $332,000 | -8.0% |
Listing Count | 8 | -41.0% |
| Listings as % of Homes | 0.6% | -41.0% |
Days on Market | 57 | -31.0% |
Demographics — Richmond, KY
As of the latest ACS Survey released in 2023, Richmond, KY has a population of 2,380, which has decreased by -15.6% over the past 5 years. Richmond, KY is a popular place for families, as children make up 29.1% of the population. The area has a poorly educated workforce, with 19.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,380 | -15.6% |
% Under 18 | 29.1% | 47.0% |
% Seniors | 18.6% | -5.6% |
% WFH | 9.6% | 284.0% |
% w/ College Degree | 19.6% | 122.7% |
As of the latest ACS Survey released in 2023, Richmond, KY is a predominantly white area, with 99.2% of the population identifying as white. The white population has grown by 1.6% in the last 5 years. The second most common race or ethnicity in Richmond, KY is black, making up 0.0% of the population. Foreign-born residents account for 0.9% of the population in Richmond, KY, and this percentage has increased by Inf% 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 | 99.2% | 1.6% |
% Black | 0.0% | -100.0% |
% Hispanic | 0.0% | -100.0% |
% Asian | 0.0% | N/A |
% Foreign Born | 0.9% | ∞% |
Mortgage and Risk — Richmond, KY
According to HUD data as of 2023, there were 54 mortgage originations in Richmond, KY, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Richmond, KY. Investor activity is low, as 2.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 54 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Rentals and Section 8 — Richmond, KY
Richmond, KY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 9 |
Total Units Section 8 | 9 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $770 |
| 2 Bedroom | N/A | N/A | $920 |
| 3 Bedroom | N/A | N/A | $1,240 |
| 4 Bedroom | N/A | N/A | $1,340 |
Affordability — Richmond, KY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $238,000 |
| Median Household Income | $58,100 |