Richmond, LA is a great place to live for people looking for an affordable housing option. The median value of a house in Richmond is $187,300 – significantly lower than the median value of homes in the US as a whole which is currently at $338,100. Although the one year appreciation of houses in Richmond has been 7.40%, slightly lower than the US average of 8.27%, it reflects that houses are still increasing in value and making it a solid investment for homeowners.
The median home cost in Richmond is $187,300. Home appreciation the last 10 years has been 40.8%. Home Appreciation in Richmond is up 10.1%.
Average Age of Homes
- The median age of Richmond real estate is 38 years old
The Rental Market in Richmond
- Renters make up 26.5% of the Richmond population
- 5.3% 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.