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What income do you need to buy in Richmond?
About $71,000 a year to buy the typical Richmond home, which sells for about $200,000.
- Typical sale price
- $200,000Median of 349 sales in the past 12 months
- Income needed
- $71,000A year, before taxes
- Cash needed up front
- $29,00010% down, transfer tax and closing costs
Assumes 10% down, no other debts, credit of 700–759, and a 7.49% 30-year rate (the 7.24% weekly average plus 0.25 points for good credit). These are estimates, not a loan offer.
What it costs each month
| Principal and interest | $1,257 |
|---|---|
| Property tax | $233 |
| Insurance | $83 |
| Mortgage insurance | $75 |
| Total a month | $1,648 |
Claiming the Homestead Exemption could lower the property tax by about $117 a month. The total above does not include that saving.
How prices have moved
Up 5.3% from the year before, comparing the median sale price of the last 12 months with the 12 months before.
| Quarter | Median sale price | Sales |
|---|---|---|
| Q1 2025 | $172,500 | 72 |
| Q2 2025 | $212,000 | 96 |
| Q3 2025 | $190,000 | 120 |
| Q4 2025 | $183,500 | 110 |
| Q1 2026 | $212,500 | 94 |
| Q2 2026 | $215,000 | 128 |
| Q3 2026 | $188,250 | 52 |
Quarters with no recorded sales are left blank.
Tell us four things
Nearby neighborhoods
Cheaper nearby
- Harrowgate $76,000
- Frankford $127,000
- Juniata Park $170,000
Pricier nearby
- Bridesburg $253,000
- East Kensington $345,000
Questions about buying in Richmond
What income do you need to buy a home in Richmond?
About $71,000 a year for the typical Richmond price of $200,000, keeping the housing payment to 28% of gross income. Assumes 10% down, no other debts, credit of 700–759, and a 7.49% 30-year rate (the 7.24% weekly average plus 0.25 points for good credit).
How much cash do you need to buy in Richmond?
About $29,000 up front at the typical price: 10% down ($20,000), your share of the transfer tax ($4,578) and closing costs ($4,000).
What does a typical home in Richmond cost per month?
A typical Richmond home costs about $1,648 a month all in: principal and interest $1,257, property tax $233, insurance $83, mortgage insurance $75. Claiming the Homestead Exemption could lower the tax by about $117 a month.
Based on 349 sales, as of 2026-10-29. Mortgage rate 7.24% (Freddie Mac, week of 2026-10-29). Estimates only, not financial advice. Talk to a lender.