Richfield, Minnesota (55423) has an average median house value of $313,600, which is significantly lower than the US average of $338,100. In addition, the 1 year appreciation rate in Richfield was only 4.79%, far below the US average of 8.27%. This suggests that housing values have not increased very quickly in Richfield over the last year compared to national averages. Despite this relatively slow growth rate in Richfield's housing market, home values remain competitive for prospective buyers looking for a local property and could be worth considering as an investment opportunity.
The median home cost in Richfield (zip 55423) is $313,600. Home appreciation the last 10 years has been 89.0%. Home Appreciation in Richfield (zip 55423) is up 7.1%.
Average Age of Homes
- The median age of Richfield (zip 55423) real estate is 60 years old
The Rental Market in Richfield (zip 55423)
- Renters make up 34.5% of the Richfield (zip 55423) population
- 0.6% of houses and apartments in Richfield (zip 55423), 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.