Housing costs in Richmond?
A typical home costs
$281,600, which is 16.7% less expensive than the national average of
$338,100 and 16.5% more expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Richmond costs
$1,150 per month, which is 19.6% cheaper than the national average of
$1,430 and 9.6% cheaper than the state average of
$1,260.
Can I afford Richmond?
To live comfortably in Richmond, Illinois, a minimum annual income of
$54,000 for a family, and
$40,000 for a single person is recommended.
What does A.I. say about Richmond?
Richmond, IL has a very affordable cost of living. According to BestPlaces, the cost of living index in Richmond is 79.4, which is significantly lower than the national average of 100. This means that it is 21.6% cheaper to live here than other cities in the United States. Living expenses such as housing, utilities, transportation and groceries are all fairly inexpensive in the city. People who wish to move to or stay in Richmond will benefit from its low cost of living and financial stability.