States › Missouri › Richmond

Is Richmond, MO expensive to live in?

CheapRent takes 15 cents of every $1 people earn here.
🏠 Rent per month (2026)$78255% lower than U.S. average
💵 Families earn per year (2026)$64,231about $5,353/month · 26% lower than U.S. average
🔑 House price$142,60057% lower than U.S. average

Rent here is among the lowest 10% of all U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are long, about 34.8 minutes each way.

How much money do I need?

To rent here comfortably, you should earn about $31,280 a year. That is $15 an hour at a full-time job.

Is rent cheaper than other Missouri cities?

Yes. Rent here is cheaper than in most of Missouri. It is number 10 of 142 cities from cheapest to most expensive.

Richmond
$782
Peculiar
$1,410
Cottleville
$1,651
Greenwood
$2,001
Pevely
$968
Barnhart
$1,731
Battlefield
$1,152

How much do households earn in Richmond?

Under $25k
27.1%
$25k–50k
17.1%
$50k–100k
34.5%
$100k–150k
13.3%
$150k+
3.0%

Share of households by yearly income. 16.3% of households earn $100,000 or more.

Rent by apartment size in Richmond

SizeRichmondU.S. average
1 bedroom$701$1,324
2 bedrooms$800$1,509
3 bedrooms$828$1,698

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Richmond overall?

Everyday prices in Missouri overall are 9% below the U.S. average (index 90.8, U.S. = 100).

Housing
70
Goods (food, clothes…)
96
Utilities
79
Other services
95
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Richmond, so the Missouri figure is shown.

Taxes and bills in Richmond

🏛️ Property tax$1,279a year · 0.90% of home value · U.S. $3,119
⚡ Electric bill$129a month (typical) · U.S. $156

Life in Richmond

Commute to work34.8 minU.S.: 26.4 min
College degree13.2%U.S.: 35.7%
Own their home56.9%U.S.: 65.2%
Below poverty line16.3%U.S.: 12.5%
Unemployment3.6%U.S.: 5.2%

Is it cheaper to rent or buy in Richmond?

Renting is cheaper right now: about $207 a month less.

Renting
$782
Owning
$989

Owning assumes a typical $142,600 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $14,260 for the down payment.

Frequently asked questions

What is the average rent in Richmond, MO?

Renting in Richmond costs a median of about $782 a month in 2026, including utilities. The Missouri median is $1,285.

How much do I need to make to live in Richmond?

To keep rent under 30% of income, you need about $31,280 a year, or $15 an hour at a full-time job.

Is Richmond cheap or expensive?

Richmond is rated Cheap: rent takes 14.6% of the typical household income of $64,231. It ranks 10th cheapest of 142 Missouri cities we track.

How much are property taxes in Richmond?

The median homeowner in Richmond pays $1,279 a year in property taxes, about 0.90% of the median home value.

Is Richmond more expensive than the national average?

Overall prices in Missouri are 9% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Richmond?

The median home value in Richmond is $142,600, about 2.2 times the typical yearly household income.

5,959 people live in Richmond. Numbers are typical (middle) values.