Housing costs in Richmond?
A typical home costs
$137,200, which is 59.4% less expensive than the national average of
$338,100 and 38.1% less expensive than the average Indiana home, at
$221,600. Renting a two-bedroom unit in Richmond costs
$840 per month, which is 41.3% cheaper than the national average of
$1,430 and 16.7% cheaper than the state average of
$980.
Can I afford Richmond?
To live comfortably in Richmond Indi Metro Area, Indiana, a minimum annual income of
$26,280 for a family, and
$25,600 for a single person is recommended.
What does A.I. say about Richmond?
The cost of living in Richmond, IN Metro Area is much lower than the US average. At 70.6, which is almost 30 points below the US average of 100, it is significantly more affordable to live in Richmond than other parts of the country. This cost savings can be seen with median house values as well - while the US median house value averages $338,100, Richmond's median house value is only $137,200 - a significant difference. Clearly, there are a variety of financial benefits to living in Richmond compared to other areas across the United States.