Housing costs in Richland?
A typical home costs
$144,200, which is 57.3% less expensive than the national average of
$338,100 and 34.9% less expensive than the average Indiana home, at
$221,600. Renting a two-bedroom unit in Richland costs
$850 per month, which is 40.6% cheaper than the national average of
$1,430 and 15.3% cheaper than the state average of
$980.
Can I afford Richland?
To live comfortably in Richland, Indiana, a minimum annual income of
$27,720 for a family, and
$26,000 for a single person is recommended.
What does A.I. say about Richland?
Richland, Indiana is a small town with an affordable cost of living. Residents can expect to pay low rents and real estate prices that are much lower than average. The median home price in the area is around $132,000, which is significantly lower than the national median of over $200,000. Additionally, transportation costs are quite low in Richland due to the local public transportation system and the availability of cars for purchase at a lower cost than many other towns. Groceries and goods from local stores tend to be more affordable here as well, making it easier for people to make ends meet each month. All in all, Richland provides residents with an economically friendly environment that offers plenty of opportunity for budgeting and saving money.