Richmond, CA—94801
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Richmond, CA
As of Nov '25, the median home price in Richmond, CA is $505,000, with a year-over-year change of -5.0%. This indicates that home prices in Richmond, CA are decreasing. According to Zillow, the 1-year price projection is -1.9%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $505,000 | -5.0% |
| Single Family | $508,000 | -4.9% |
| Condos | $410,000 | -8.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $370,000 | -3.4% |
2 Bed | $440,000 | -5.6% |
3 Bed | $519,000 | -5.1% |
4 Bed | $602,000 | -4.9% |
| 5 Bed | $635,519 | -3.9% |
% of Housing Stock
Rental Trends — Richmond, CA
As of July '25, Rentcast reports the average rent in Richmond, CA is $2,150, with a year-over-year rent change of -4.4%. Per bedroom, the median rent as of July '25 in Richmond, CA is studios: $1,330, 1-bedrooms: $1,660, 2-bedrooms: $2,160, 3-bedrooms: $3,070, 4-bedrooms: $3,250. The most common rental property sizes in Richmond, CA are 2-bedroom and 3-bedroom, accounting for 39.0% and 25.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,880 | $2,150 |
| Studio Rent | $1,200 | $1,330 |
| 1 Bed Rent | $1,600 | $1,660 |
| 2 Bed Rent | $1,900 | $2,160 |
| 3 Bed Rent | $3,000 | $3,070 |
| 4 Bed Rent | $2,000 | $3,250 |
% of Rental Stock
Property Listings — Richmond, CA
As of Nov '25, Realtor.com reports that the median days on market for a home in Richmond, CA is 63. 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 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $570,000 | 2.0% |
Listing Count | 52 | 7.0% |
| Listings as % of Homes | 0.3% | 7.0% |
Days on Market | 63 | 2.0% |
Demographics — Richmond, CA
As of the latest ACS Survey released in 2023, Richmond, CA has a population of 33,600, which has increased by 12.0% over the past 5 years. Richmond, CA is a popular place for families, as children make up 25.8% of the population. The area has a poorly educated workforce, with 19.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 33,600 | 12.0% |
% Under 18 | 25.8% | -3.0% |
% Seniors | 12.7% | 13.4% |
% WFH | 11.6% | 152.2% |
% w/ College Degree | 19.4% | 3.2% |
As of the latest ACS Survey released in 2023, Richmond, CA is a predominantly hispanic area, with 66.3% of the population identifying as hispanic. The hispanic population has grown by 8.7% in the last 5 years. The second most common race or ethnicity in Richmond, CA is white, making up 11.7% of the population. Foreign-born residents account for 39.8% of the population in Richmond, CA, and this percentage has decreased by 0.7% 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 | 11.7% | -4.1% |
% Black | 11.5% | -21.8% |
% Hispanic | 66.3% | 8.7% |
% Asian | 5.7% | -43.0% |
% Foreign Born | 39.8% | -0.7% |
Mortgage and Risk — Richmond, CA
According to HUD data as of 2023, there were 192 mortgage originations in Richmond, CA, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Richmond, CA. Investor activity is low, as 4.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 192 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Rentals and Section 8 — Richmond, CA
As of 2024, the percent of homes in Richmond, CA under the Section 8 program is 21.9%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Richmond, CA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 1,218 |
Total Units Section 8 | 1,167 |
% Rentals under Section 8 | 21.9% |
% Occupied Section 8 | 88.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $320 | $1,600 | $1,920 |
| 2 Bedroom | $440 | $1,900 | $2,340 |
| 3 Bedroom | $10 | $3,000 | $3,010 |
| 4 Bedroom | $1,560 | $2,000 | $3,560 |
Affordability — Richmond, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.1 |
| Median Home Price | $505,000 |
| Median Household Income | $75,800 |