Zip 48062 (Richmond, MI) Housing

The housing market in Richmond, MI (48062) is fairly strong with the median value being $260,000. This is significantly lower than the US median value of $338,100, however it has experienced a 7.58% appreciation rate over the past year which is slightly lower than the national average of 8.27%. The market in Richmond appears to be stable but with an opportunity for growth.

The median home cost in Richmond (zip 48062) is $260,000. Home appreciation the last 10 years has been 116.4%. Home Appreciation in Richmond (zip 48062) is up 10.8%.

Average Age of Homes

- The median age of Richmond (zip 48062) real estate is 37 years old

The Rental Market in Richmond (zip 48062)

- Renters make up 20.5% of the Richmond (zip 48062) population
- 0.0% of houses and apartments in Richmond (zip 48062), 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.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Richmond, Michigan	United States
	3,507.0	139,647,020.0
	37	42
	$260,000	$338,100
	10.8%	16.6%
	47.2%	57.0%
	116.4%	101.1%
	$14.95	$10.98
	$3,185	$2,690
	81.4%	57.4%
	3.4%	11.2%
	15.2%	31.4%
Vacant Housing
	0.0%	1.9%
	1.5%	0.4%
	0.0%	0.7%
	0.0%	0.4%
	0.0%	3.6%
	1.9%	4.1%
Value of Owner-Occupied Housing
	1.4%	2.6%
	0.7%	2.4%
	0.7%	2.8%
	1.4%	3.9%
	2.8%	4.5%
	11.1%	11.3%
	27.3%	13.0%
	35.2%	20.1%
	16.8%	13.6%
	1.6%	8.3%
	0.4%	9.7%
	0.0%	3.9%
	0.0%	2.2%
	0.4%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	18.2%	13.6%
	18.2%	13.6%
	25.8%	13.6%
	8.0%	13.2%
	11.2%	14.8%
	25.8%	13.6%
	7.9%	10.0%
	1.7%	4.7%
	21.9%	12.2%

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