Richmond, CA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Richmond, CA Housing Market Trends

With a population of 110,567, 37,088 total housing units (homes and apartments), and a median house value of $486,752, real estate costs in Richmond are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.

Single-family detached homes are the single most common housing type in Richmond, accounting for 55.79% of the city's housing units. Other types of housing that are prevalent in Richmond include large apartment complexes or high rise apartments ( 21.03%), duplexes, homes converted to apartments or other small apartment buildings ( 12.16%), and a few row houses and other attached homes ( 10.46%).

People in Richmond primarily live in small (one, two or no bedroom) single-family detached homes. Richmond has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Richmond's housing was primarily built during this period, from the '40s through the '60s. A full 46.31% of the city's housing hails from this era. Other housing ages represented in Richmond include homes built between 1970-1999 ( 33.28%) and housing constructed before 1939 ( 11.47%). There's also some housing in Richmond built between 2000 and later ( 8.94%).

Richmond Home Appreciation Rates

In the last 10 years, Richmond has experienced some of the highest home appreciation rates of any community in the nation. Richmond real estate appreciated 134.87% over the last ten years, which is an average annual home appreciation rate of 8.91%, putting Richmond in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Richmond definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Richmond appreciation rates have trailed the rest of the nation. In the last twelve months, Richmond's appreciation rate has been 0.43%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Richmond were at 0.50%, which equates to an annual appreciation rate of 2.03%.

Notably, Richmond's appreciation rate in the latest quarter is one of the lowest in America.

Relative to California, our data show that Richmond's latest annual appreciation rate is lower than 80% of the other cities and towns in California.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Richmond differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Richmond - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Richmond real estate investment or home purchase decisions.

Average Home Values

 
info

Median Home Value:
$486,752

Richmond, CA HOME PRICES

> $1,215,000
1.8%
1.8%
$911,001 - $1,215,000
4.9%
4.9%
$607,001 - $911,000
27.4%
27.4%
$486,001 - $607,000
20.7%
20.7%
$364,001 - $486,000
23.4%
23.4%
$243,001 - $364,000
10.9%
10.9%
$121,001 - $243,000
6.8%
6.8%
$60,001 - $121,000
2.5%
2.5%
$0 - $60,000
1.5%
1.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Average for CA

Value Relative To Nation

Number Of Homes And Apartments:
37,088

Richmond Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
142.67% 4.31%
7
10
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$2,480 / per month

Homeownership Rate

Owners
49.2%
49.2%
Renters
50.8%
50.8%
Vacant
6.4%
6.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
8.9%
8.9%
1970 - 1999
33.3%
33.3%
1940 - 1969
46.3%
46.3%
1939 or Older
11.5%
11.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
55.8%
55.8%
Townhomes
10.5%
10.5%
Small Apt. Buildings
12.2%
12.2%
Apt. Complexes
21.0%
21.0%
Mobile Homes
0.3%
0.3%
Other
0.3%
0.3%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.7%
2.7%
1 Bedroom
14.9%
14.9%
2 Bedrooms
33.9%
33.9%
3 Bedrooms
34.6%
34.6%
4 Bedrooms
11.7%
11.7%
5 or more bedrooms
2.2%
2.2%
0.0% 100.0%
% OF HOMES