Richmond, IL is an attractive place to live with a median housing value of $281,600. This is significantly lower than the US median housing value of $338,100. Despite this, Richmond has seen higher appreciation in its house values over the past year at 8.83%, which is slightly higher than the national average of 8.27%. This indicates that there is strong demand for housing in the area and that people are interested in investing in property here. A well-maintained house in the area can be a very valuable asset and could provide a great return on investment for those looking for an attractive place to call home.
The median home cost in Richmond is $281,600. Home appreciation the last 10 years has been 54.6%. Home Appreciation in Richmond is up 14.5%.
Average Age of Homes
- The median age of Richmond real estate is 26 years old
The Rental Market in Richmond
- Renters make up 42.5% of the Richmond population
- 2.3% of houses and apartments in Richmond, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.