Housing costs in Richmond?
A typical home costs
$124,100, which is 63.3% less expensive than the national average of
$338,100 and 44.0% less expensive than the average Indiana home, at
$221,600. Renting a two-bedroom unit in Richmond costs
$980 per month, which is 31.5% cheaper than the national average of
$1,430 and close to the state average of
$980.
Can I afford Richmond?
To live comfortably in Richmond (zip 47374), Indiana, a minimum annual income of
$23,760 for a family, and
$30,000 for a single person is recommended.
What does A.I. say about Richmond?
The cost of living in 47374 Richmond, IN is very reasonable. According to Sperling's Best Places, the cost of living index is 81.3, which is 19.7% lower than the U.S. average. The median home value in the area is $85,500 and the median rent price is $689 per month, which is very affordable compared to other parts of the country. Utilities are also fairly inexpensive; on average you can expect to pay about $144 for monthly utilities such as electricity, water, and garbage collection. Furthermore, the sales tax rate is only 6%, making purchases more affordable for residents. Overall, 47374 Richmond, IN has an excellent cost of living that makes it a great place to live!