Housing Delivers Value That Lasts

Richmond’s housing market is built on balance. With affordable pricing, steady appreciation, and consistent new development, the city offers long-term value for residents and employers alike.

A Market Built for Growth: Richmond’s Residential Development Pipeline Continues to Expand

January 1, 2025- July 31, 2026:

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This sustained pace of development keeps Richmond's housing supply diverse and responsive to demand, supporting workforce stability and neighborhood investment.

An older couple unpacking boxes, a family of four moving into a new home, and a couple unloading boxes ina new home

Affordability Meets Long-Term Value

Richmond delivers greater affordability than neighboring markets.

As of July 31, 2025, the median sale price is $300,117. Homes spend a median of just 20 days pending, signaling strong, steady demand. While 11.2% of homes sell above list price, the majority close below list, keeping opportunities accessible for new residents and first-time buyers.

A Steady Market With Room to Invest

Richmond’s housing growth directly supports business attraction and workforce retention. The city’s stable inventory provides flexibility for relocating employees, developers, and investors looking to capture value in a maturing market.

Richmond, KY

$73,955

Average Household Income

$57,106

Average Disposable Income

17,561

Housing Units

$281,026

Average Home Value

Housing and Income

The average household income in Richmond, KY is $73,955 and projected to be $82,089 in 2031. Per capita income is $31,880, projected to be $35,711 in 2031. 1.95% of households – 734 – have an income of $200,000 or higher. Average net worth is $493,520 and the average disposable income is $57,106.

There are 17,561 housing units in Richmond, KY; 6,330 are owner-occupied, 9,616 are rented, and 1,615 are vacant. The average home value is $281,026, with 2,942 homes built in 2010 or later, and 548 built in 1939 or earlier.

Source: ESRI, 2026-09-09

Select Richmond

Work with the Richmond Industrial Development Corporation to identify residential and mixed-use opportunities that strengthen your investment, and support the community’s continued growth.