Housing costs in Richmond?
A typical home costs
$252,800, which is 25.2% less expensive than the national average of
$338,100 and 15.6% more expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Richmond costs
$990 per month, which is 30.8% cheaper than the national average of
$1,430 and 11.1% cheaper than the state average of
$1,100.
Can I afford Richmond?
To live comfortably in Richmond, Michigan, a minimum annual income of
$48,600 for a family, and
$30,800 for a single person is recommended.
What does A.I. say about Richmond?
The cost of living in Richmond, MI is slightly above the national average, with housing costs being the main factor. The median home price in Richmond is $128,400, which is higher than the US average of $231,200. Cost of living expenses, such as food and utilities, are also slightly higher than the US average, but still quite affordable. Overall, Richmond offers a good balance between affordability and quality of life for its residents.