Richmond, KY is a great place to purchase a home due to its housing median value of $249,300 which is significantly lower than the US House Median Value of $338,100. This provides an overall cost benefit for those looking to purchase a home in Richmond. Furthermore, the 1 year house appreciation both in Richmond and the US as a whole are quite similar at 8.08% and 8.27%, respectively. This indicates that purchasing a home in Richmond will see gains in value over time while still keeping costs relatively low compared to buying elsewhere. Overall, Richmond is an excellent choice for prospective homeowners looking for affordability and potential growth in housing value over time.
The median home cost in Richmond is $249,300. Home appreciation the last 10 years has been 69.9%. Home Appreciation in Richmond is up 15.5%.
Average Age of Homes
- The median age of Richmond real estate is 28 years old
The Rental Market in Richmond
- Renters make up 53.7% of the Richmond population
- 2.9% 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.