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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 1,736, 824 total housing units (homes and apartments), and a median house value of $144,135, house prices in Richland are some of the most affordable in Missouri as well as the nation.
Single-family detached homes are the single most common housing type in Richland, accounting for 74.29% of the city's housing units. Other types of housing that are prevalent in Richland include mobile homes or trailers ( 11.49%), large apartment complexes or high rise apartments ( 6.17%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.43%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Richland. Owner-occupied housing accounts for 70.57% of Richland's homes, and 57.47% have either three or four bedrooms, which is average sized relative to America.
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. Richland's housing was primarily built during this period, from the '40s through the '60s. A full 32.29% of the city's housing hails from this era. Other housing ages represented in Richland include homes built between 1970-1999 ( 30.20%) and housing constructed between 2000 and later ( 23.82%). There's also some housing in Richland built before 1939 ( 13.69%).
Vacant housing appears to be an issue in Richland. Fully 13.90% of the housing stock is classified as vacant. Left unchecked, vacant Richland homes and apartments can be a drag on the real estate market, holding Richland real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Richland's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Richland during the period has been just 4.45%, which is lower than 80% of US communities.
Appreciation rates are so strong in Richland that despite a nationwide downturn in the housing market, Richland real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Richland appreciation rates continue to be some of the highest in America, at 6.67%, which is higher than appreciation rates in 70.60% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Richland. Richland appreciation rates in the latest quarter were at 0.31%, which equates to an annual appreciation rate of 1.23%.
Relative to Missouri, our data show that Richland's latest annual appreciation rate is lower than 60% of the other cities and towns in Missouri.
$144,135
for Missouri
for nation
824
$1,348 / per month