States › Texas › Richmond

Is Richmond, TX expensive to live in?

ExpensiveRent takes 35 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,58610% lower than U.S. average
💵 Families earn per year (2026)$54,288about $4,524/month · 38% lower than U.S. average
🔑 House price$231,50030% lower than U.S. average

Rent is lower than in 53% of U.S. cities. A typical house costs about 4.3 years of household income.

How much money do I need?

To rent here comfortably, you should earn about $63,440 a year. That is $31 an hour at a full-time job.

Is rent cheaper than other Texas cities?

No. Rent here is more expensive than in most of Texas. It is number 247 of 426 cities from cheapest to most expensive.

Richmond
$1,586
Levelland
$893
Lantana
$3,639
Robinson
$1,493
Hornsby Bend
$2,455
Webster
$1,713
Iowa Colony
$2,483

How much do households earn in Richmond?

Under $25k
22.4%
$25k–50k
26.8%
$50k–100k
32.8%
$100k–150k
8.2%
$150k+
6.2%

Share of households by yearly income. 14.4% of households earn $100,000 or more.

Rent by apartment size in Richmond

SizeRichmondU.S. average
Studio$1,305$1,338
1 bedroom$1,082$1,324
2 bedrooms$2,150$1,509
3 bedrooms$1,678$1,698

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

How expensive is Richmond overall?

Everyday prices in Texas overall are 3% below the U.S. average (index 97.1, U.S. = 100).

Housing
97
Goods (food, clothes…)
98
Utilities
88
Other services
97
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 Texas figure is shown.

Taxes and bills in Richmond

🏛️ Property tax$3,425a year · 1.48% of home value · U.S. $3,119
⚡ Electric bill$209a month (typical) · U.S. $156

Life in Richmond

Commute to work29.2 minU.S.: 26.4 min
College degree18.9%U.S.: 35.7%
Own their home53.5%U.S.: 65.2%
Below poverty line15.7%U.S.: 12.5%
Unemployment7%U.S.: 5.2%

Is it cheaper to rent or buy in Richmond?

About the same. Renting and owning cost within $20 of each other each month.

Renting
$1,586
Owning
$1,606

Owning assumes a typical $231,500 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $23,150 for the down payment.

Frequently asked questions

What is the average rent in Richmond, TX?

Renting in Richmond costs a median of about $1,586 a month in 2026, including utilities. The Texas median is $1,451.

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

To keep rent under 30% of income, you need about $63,440 a year, or $31 an hour at a full-time job.

Is Richmond cheap or expensive?

Richmond is rated Expensive: rent takes 35.1% of the typical household income of $54,288. It ranks 247th cheapest of 426 Texas cities we track.

How much are property taxes in Richmond?

The median homeowner in Richmond pays $3,425 a year in property taxes, about 1.48% of the median home value.

Is Richmond more expensive than the national average?

Overall prices in Texas are 3% 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 $231,500, about 4.3 times the typical yearly household income.

12,582 people live in Richmond. Numbers are typical (middle) values.