Richland, MI—49083
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Richland, MI
As of Oct '25, the median home price in Richland, MI is $366,000, with a year-over-year change of 2.5%. This indicates that home prices in Richland, MI are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $366,000 | 2.5% |
| Single Family | $371,000 | 1.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $294,000 | 3.2% |
3 Bed | $318,000 | 1.9% |
4 Bed | $413,000 | 1.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Richland, MI
As of July '25, Rentcast reports the average rent in Richland, MI is $2,010, with a year-over-year rent change of -7.4%. Per bedroom, the median rent as of July '25 in Richland, MI is 1-bedrooms: $900, 2-bedrooms: $1,800, 3-bedrooms: $2,200, 4-bedrooms: $2,240. The most common rental property sizes in Richland, MI are 2-bedroom and 1-bedroom, accounting for 53.0% and 17.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,010 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $900 | $900 |
| 2 Bed Rent | $1,800 | $1,800 |
| 3 Bed Rent | $2,200 | $2,200 |
| 4 Bed Rent | $2,300 | $2,240 |
% of Rental Stock
Property Listings — Richland, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Richland, MI is 81. This is a increase of 2.0% 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 10.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $576,000 | -15.0% |
Listing Count | 58 | 6.0% |
| Listings as % of Homes | 0.9% | 6.0% |
Days on Market | 81 | 2.0% |
Demographics — Richland, MI
As of the latest ACS Survey released in 2023, Richland, MI has a population of 8,110, which has increased by 2.5% over the past 5 years. Richland, MI is a popular place for families, as children make up 25.8% of the population. The area has a highly educated workforce, with 49.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,110 | 2.5% |
% Under 18 | 25.8% | 4.9% |
% Seniors | 22.7% | 14.6% |
% WFH | 20.2% | 274.1% |
% w/ College Degree | 49.2% | 1.2% |
As of the latest ACS Survey released in 2023, Richland, MI is a predominantly white area, with 92.2% of the population identifying as white. The white population has shrunk by 3.0% in the last 5 years. The second most common race or ethnicity in Richland, MI is hispanic, making up 3.7% of the population. Foreign-born residents account for 2.2% of the population in Richland, MI, and this percentage has decreased by 43.6% 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 | 92.2% | -3.0% |
% Black | 2.3% | 475.0% |
% Hispanic | 3.7% | 117.6% |
% Asian | 0.2% | -86.7% |
% Foreign Born | 2.2% | -43.6% |
Mortgage and Risk — Richland, MI
According to HUD data as of 2023, there were 234 mortgage originations in Richland, MI, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Richland, MI. Investor activity is low, as 1.0% 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 | 234 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Richland, MI
As of 2024, the percent of homes in Richland, MI under the Section 8 program is 0.5%. 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, MI, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 0.5% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$30 | $900 | $870 |
| 2 Bedroom | -$770 | $1,800 | $1,030 |
| 3 Bedroom | -$840 | $2,200 | $1,360 |
| 4 Bedroom | -$840 | $2,300 | $1,460 |
Affordability — Richland, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $366,000 |
| Median Household Income | $112,000 |