Richmond, CA—94806
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Richmond, CA
As of Oct '25, the median home price in Richmond, CA is $570,000, with a year-over-year change of -7.7%. This indicates that home prices in Richmond, CA are decreasing. According to Zillow, the 1-year price projection is -2.3%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $570,000 | -7.7% |
| Single Family | $587,000 | -7.6% |
| Condos | $383,000 | -9.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $296,000 | -9.2% |
2 Bed | $441,000 | -8.3% |
3 Bed | $580,000 | -7.6% |
4 Bed | $670,000 | -7.3% |
| 5 Bed | $813,000 | -8.0% |
% of Housing Stock
Rental Trends — Richmond, CA
As of July '25, Rentcast reports the average rent in Richmond, CA is $2,550, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Richmond, CA is studios: $2,170, 1-bedrooms: $1,760, 2-bedrooms: $2,330, 3-bedrooms: $3,260, 4-bedrooms: $3,320. The most common rental property sizes in Richmond, CA are 2-bedroom and 1-bedroom, accounting for 37.3% and 29.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,450 | $2,550 |
| Studio Rent | $1,800 | $2,170 |
| 1 Bed Rent | $1,800 | $1,760 |
| 2 Bed Rent | $2,250 | $2,330 |
| 3 Bed Rent | $3,300 | $3,260 |
| 4 Bed Rent | $3,200 | $3,320 |
% of Rental Stock
Property Listings — Richmond, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Richmond, CA is 44. This is a increase of 34.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $566,000 | 1.0% |
Listing Count | 114 | 69.0% |
| Listings as % of Homes | 0.2% | 69.0% |
Days on Market | 44 | 34.0% |
Demographics — Richmond, CA
As of the latest ACS Survey released in 2023, Richmond, CA has a population of 61,700, which has decreased by -4.1% over the past 5 years. Richmond, CA is a moderately popular place for families, as children make up 22.8% of the population. The area has a poorly educated workforce, with 22.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 61,700 | -4.1% |
% Under 18 | 22.8% | -1.7% |
% Seniors | 13.1% | 14.9% |
% WFH | 8.5% | 123.7% |
% w/ College Degree | 22.7% | 22.0% |
As of the latest ACS Survey released in 2023, Richmond, CA is a predominantly hispanic area, with 51.4% of the population identifying as hispanic. The hispanic population has grown by 0.4% in the last 5 years. The second most common race or ethnicity in Richmond, CA is asian, making up 16.3% of the population. Foreign-born residents account for 37.5% of the population in Richmond, CA, and this percentage has decreased by 8.3% 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 | 12.3% | 0.8% |
% Black | 13.8% | -7.4% |
% Hispanic | 51.4% | 0.4% |
% Asian | 16.3% | -8.9% |
% Foreign Born | 37.5% | -8.3% |
Mortgage and Risk — Richmond, CA
According to HUD data as of 2023, there were 417 mortgage originations in Richmond, CA, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Richmond, CA. Investor activity is low, as 1.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 417 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Richmond, CA
As of 2024, the percent of homes in Richmond, CA under the Section 8 program is 11.9%. 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. 1-bedroom and 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Richmond, CA, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,316 |
Total Units Section 8 | 1,175 |
% Rentals under Section 8 | 11.9% |
% Occupied Section 8 | 89.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $120 | $1,800 | $1,920 |
| 2 Bedroom | $90 | $2,250 | $2,340 |
| 3 Bedroom | -$290 | $3,300 | $3,010 |
| 4 Bedroom | $360 | $3,200 | $3,560 |
Affordability — Richmond, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.4 |
| Median Home Price | $570,000 |
| Median Household Income | $82,800 |