Housing costs in Richmond?
A typical home costs
$249,300, which is 26.3% less expensive than the national average of
$338,100 and 28.3% more expensive than the average Kentucky home, at
$194,300. Renting a two-bedroom unit in Richmond costs
$790 per month, which is 44.8% cheaper than the national average of
$1,430 and 16.5% cheaper than the state average of
$920.
Can I afford Richmond?
To live comfortably in Richmond, Kentucky, a minimum annual income of
$47,880 for a family, and
$26,000 for a single person is recommended.
What does A.I. say about Richmond?
The cost of living in Richmond, KY is relatively low compared to many other cities in the United States. The median household income is around $41,000, and the median home price is just over $110,000. Renters can expect to pay an average of $500 per month for a one-bedroom apartment, making it an affordable option for those looking to move to Richmond. The city also offers many inexpensive restaurants featuring local favorites like BBQ and fried chicken. Additionally, groceries are much more affordable than in most places with prices being significantly lower than national averages.