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Richfield, Minnesota

Last updated: 2024 BLS data · Page refreshed:

City Profile — Demographics, Income, Education & Housing
Data: U.S. Census Bureau, American Community Survey 2024 5-Year Estimates
36,642
Population
$85,132
Median Income
$344,000
Home Value
39.4
Median Age

Demographics

Richfield has a population of 36,642 with a median age of 39.4. Here is the racial and ethnic breakdown of the population:

White
62.2%
Hispanic
17.8%
Black
10.8%
Asian
5.5%
Other
3.7%
Demographic Value
Total Population36,642
Median Age39.4
White62.2%
Black or African American10.8%
Asian5.5%
Hispanic or Latino17.8%
Other / Two or More Races3.7%
Richfield, Minnesota — racial composition (Census ACS 2024)Donut chart of 5 segments totaling 100.White: 62.2%Hispanic/Latino: 17.8%Black: 10.8%Asian: 5.5%Other: 3.7%36,642PopulationWhiteWhite62.2%Hispanic/LatinoHispanic/Latino17.8%BlackBlack10.8%AsianAsian5.5%OtherOther3.7%

Income & Economy

The median household income in Richfield is $85,132, which is 5.6% above the national median of $80,610. The per capita income is $47,856. The poverty rate is 8.2%.

$85,132
Median Household Income
$47,856
Per Capita Income
8.2%
Poverty Rate

Employment

The unemployment rate in Richfield is 2.6%, compared to the national rate of 4.1%.

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Education

In Richfield, 91.3% of residents age 25+ have a high school diploma or higher, and 43.7% hold a bachelor's degree or higher (12.5% with a graduate or professional degree).

HS Diploma+
91.3%
Bachelor's+
43.7%
Graduate+
12.5%
Education Level % of Adults (25+)
High School Diploma or Higher91.3%
Bachelor's Degree or Higher43.7%
Graduate or Professional Degree12.5%

Housing

The median home value in Richfield is $344,000, above the national median of $303,400. The median monthly rent is $1,393. The homeownership rate is 61.6%.

$344,000
Median Home Value
$1,393/mo
Median Rent
61.6%
Homeownership Rate
Housing Metric Value
Median Home Value$344,000
Median Monthly Rent$1,393
Homeownership Rate61.6%
Vacancy Rate3.7%

Salaries in Minnesota

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Frequently Asked Questions

What is the population of Richfield, Minnesota?
The population of Richfield, Minnesota is 36,642 according to U.S. Census Bureau ACS 2024 5-Year Estimates.
What is the median household income in Richfield, Minnesota?
The median household income in Richfield, Minnesota is $85,132. This is 5.6% above the national median of $80,610.
What is the median home value in Richfield, Minnesota?
The median home value in Richfield, Minnesota is $344,000. The median monthly rent is $1,393.
What percentage of people in Richfield have a college degree?
In Richfield, Minnesota, 43.7% of adults age 25 and older hold a bachelor's degree or higher, and 91.3% have a high school diploma or higher.
Is Richfield, Minnesota an affordable place to live?
The home price-to-income ratio in Richfield, Minnesota is 4.0x (median home value $344,000 vs. median income $85,132), making it moderately affordable by that measure. A ratio under 4.0 is generally considered affordable.

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