Richland, MI 49083 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Richland, MI—49083

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$364,000

2.0% YoY Growth

Household Income

$112,000

31.4% YoY Growth

Days on Market

16.0% Shorter YoY

Home Price Forecast

2.0%

Median Rent

$2,200

7.4% YoY Growth

1-Bed Rent

$900

N/A

2-Bed Rent

$1,800

N/A

3-Bed Rent

$2,200

11.7% YoY Growth

Home Price Trends — Richland, MI

As of Dec '25, the median home price in Richland, MI is $364,000, with a year-over-year change of 2.0%. This indicates that home prices in Richland, MI are increasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$364,000	2.0%
Single Family	$369,000	1.7%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

1 Bedroom

17.4%

2 Bedrooms

53.0%

3 Bedrooms

12.3%

4 Bedrooms

17.4%

Property Listings — Richland, MI

As of Dec '25, Realtor.com reports that the median days on market for a home in Richland, MI is 76. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 23.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$454,000	-7.0%
Listing Count	44	-10.0%
Listings as % of Homes	0.9%	-10.0%
Days on Market	67	-16.0%

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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%

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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%

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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%

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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

Richland, MI—49083

Key Metrics at a Glance

Home Price Trends — Richland, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Richland, MI

% of Rental Stock

Property Listings — Richland, MI

Demographics — Richland, MI

Race and Ethnicity

Mortgage and Risk — Richland, MI

Mortgages

Rentals and Section 8 — Richland, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Richland, MI

Home Price to Income Ratio

Richland, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Hickory Corners, MI

Greater Galesburg, MI

Comstock Northwest

Cooper, MI

Comstock, MI

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3
Median Home Price	$364,000
Median Household Income	$112,000

Richland, MI—49083

Key Metrics at a Glance

Home Price Trends — Richland, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Richland, MI

% of Rental Stock

Property Listings — Richland, MI

Demographics — Richland, MI

Race and Ethnicity

Mortgage and Risk — Richland, MI

Mortgages

Rentals and Section 8 — Richland, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Richland, MI

Home Price to Income Ratio

Richland, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Hickory Corners, MI

Greater Galesburg, MI

Comstock Northwest

Cooper, MI

Comstock, MI

Frequently Asked Questions

What is the average home price in Richland, MI 49083?

How have home prices in Richland, MI 49083 changed over the past year?

What is the home price projection for Richland, MI 49083?

What are the demographics of Richland, MI 49083?

How long does it take homes to sell in Richland, MI 49083?

What is the average rent price in Richland, MI 49083?