Home prices
The median home in Richmond costs $182,300. This is roughly $17,280 (10%) higher compared to the surrounding areas.It is about $35,200 (16%) lower in comparison to the rest of the nation, and in comparison to the city of Detroit it is roughly $133,100 (270%) higher.
Rents
In Richmond the median monthly rent is $682. It is about $134 (16%) lower compared to its nearby areas.Compared to the rest of the nation it is approximately $380 (35%) lower, and it is roughly $142 (17%) lower compared to the city of Detroit.
Nearby places
New Haven
New Haven is roughly 5 miles south from Richmond. Its real estate prices are a lot less expensive. New Haven's median home cost is $120,800, which is $61,500 (50%) lower than Richmond. The rent there is a lot more expensive. The median rent in New Haven is $1,025 a month, which comes out to $343 (33%) higher than Richmond.
Memphis
Memphis is approximately 5 miles north of Richmond. The housing prices there are substantially less expensive. The median home in Memphis costs $126,800, which is $55,500 (43%) lower than Richmond. Its rents are somewhat more expensive. The median monthly rent in Memphis is $723, which works out to $41 (5%) higher than Richmond.
Armada
Armada is approximately 6 miles west from Richmond. Its housing prices are a little less expensive. The median home in Armada costs $163,100, which is $19,200 (11%) lower than Richmond. Rents there are a bit more expensive. In Armada the median rent is $808 a month, which works out to $126 (15%) higher than Richmond.
New Baltimore
New Baltimore is approximately 7 miles south of Richmond. The housing prices there are a bit more expensive. The median home in New Baltimore costs $225,400, which works out to $43,100 (19%) higher than Richmond. Rent there is a little more expensive. The median monthly rent in New Baltimore is $741, which is $59 (7%) higher than Richmond.
Romeo
Romeo is approximately 10 miles west of Richmond. Its housing prices are fairly similar. The median home in Romeo is valued at $189,000, which works out to $6,700 (3%) higher than Richmond. Rents there are a little more expensive. The median monthly rent in Romeo is $785, which comes out to $103 (13%) higher than Richmond.
