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Richmond, Michigan

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
5,855
Population
$64,719
Median Income
$237,700
Home Value
39.7
Median Age

Demographics

Richmond has a population of 5,855 with a median age of 39.7. Here is the racial and ethnic breakdown of the population:

White
88.2%
Hispanic
5.2%
Other
4.2%
Black
2.4%
Demographic Value
Total Population5,855
Median Age39.7
White88.2%
Black or African American2.4%
Hispanic or Latino5.2%
Other / Two or More Races4.2%
Richmond, Michigan — racial composition (Census ACS 2024)Donut chart of 4 segments totaling 100.White: 88.2%Hispanic/Latino: 5.2%Other: 4.2%Black: 2.4%5,855PopulationWhiteWhite88.2%Hispanic/LatinoHispanic/Latino5.2%OtherOther4.2%BlackBlack2.4%

Income & Economy

The median household income in Richmond is $64,719, which is 19.7% below the national median of $80,610. The per capita income is $34,492. The poverty rate is 13.5%.

$64,719
Median Household Income
$34,492
Per Capita Income
13.5%
Poverty Rate

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Education

In Richmond, 89.3% of residents age 25+ have a high school diploma or higher, and 25.1% hold a bachelor's degree or higher (10.1% with a graduate or professional degree).

HS Diploma+
89.3%
Bachelor's+
25.1%
Graduate+
10.1%
Education Level % of Adults (25+)
High School Diploma or Higher89.3%
Bachelor's Degree or Higher25.1%
Graduate or Professional Degree10.1%

Housing

The median home value in Richmond is $237,700, below the national median of $303,400. The median monthly rent is $864. The homeownership rate is 76.6%.

$237,700
Median Home Value
$864/mo
Median Rent
76.6%
Homeownership Rate
Housing Metric Value
Median Home Value$237,700
Median Monthly Rent$864
Homeownership Rate76.6%
Vacancy Rate2.3%

Salaries in Michigan

Explore salary data for popular occupations in Michigan:

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Other Cities in Michigan

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Frequently Asked Questions

What is the population of Richmond, Michigan?
The population of Richmond, Michigan is 5,855 according to U.S. Census Bureau ACS 2024 5-Year Estimates.
What is the median household income in Richmond, Michigan?
The median household income in Richmond, Michigan is $64,719. This is 19.7% below the national median of $80,610.
What is the median home value in Richmond, Michigan?
The median home value in Richmond, Michigan is $237,700. The median monthly rent is $864.
What percentage of people in Richmond have a college degree?
In Richmond, Michigan, 25.1% of adults age 25 and older hold a bachelor's degree or higher, and 89.3% have a high school diploma or higher.
Is Richmond, Michigan an affordable place to live?
The home price-to-income ratio in Richmond, Michigan is 3.7x (median home value $237,700 vs. median income $64,719), making it relatively affordable by that measure. A ratio under 4.0 is generally considered affordable.

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