Richmond housing market
Typical home value
$174K
▲ 6.5% 1 yr
Typical rent
$901/mo
▲ 4.6% 1 yr
12-month forecast
+4.1%
#50 of 546 metros
Gross rent yield
6.2%
#230 of 546 · U.S. 6.3%
Days to pending
51 days
▲ +11 days 1 yr
Listings with a price cut
26%
▲ +4.2 pts 1 yr
Key takeaways
- 1The typical home is worth $173,654, up 6.5% in a year and up 41% over five years.
- 2Zillow forecasts home values rising 4.1% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $901/mo (+4.6% YoY), a 6.2% gross yield, below the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $954/mo in principal and interest, $53 more than renting.
- 5Homes go under contract in 51 days (+11 days vs last year); 26% of listings have had a price cut.
Market temperature
Neutral market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 50/100, #146 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
How fast homes are selling
For saleNew listings
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Richmond compares
| Measure | Richmond | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +6.5% | +1.2% | #23 |
| Home value, 5-yr change | +41.0% | +19.7% | |
| 12-month forecast | +4.1% | +1.1% | #50 |
| Rent, 1-yr change | +4.6% | +2.7% | #139 |
| Gross rent yield | 6.2% | 6.3% | #230 |
| Price-to-rent ratio | 16.1 | 15.8 | |
| Mortgage P&I on typical home | $954 | $2,012 | |
| Days to pending | 51 | 56 |
Run the numbers
Rental property calculator
Cash flow on a typical Richmond rental ($174K, $901/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Richmond home.
Rent vs buy
Is it cheaper to rent or buy in Richmond?
Other Indiana metros
Indianapolis, IN
$292K home$1,528 rent6.3% yield
▲ 1.0% 1 yr
Fort Wayne, IN
$257K home$1,266 rent5.9% yield
▲ 3.6% 1 yr
South Bend, IN
$238K home$1,258 rent6.4% yield
▲ 6.3% 1 yr
Evansville, IN
$225K home$1,098 rent5.8% yield
▲ 3.9% 1 yr
Lafayette, IN
$283K home$1,473 rent6.2% yield
▲ 2.9% 1 yr
Elkhart, IN
$266K home$1,182 rent5.3% yield
▲ 5.5% 1 yr
Terre Haute, IN
$166K home$977 rent7.1% yield
▲ 1.4% 1 yr
Bloomington, IN
$297K home$1,746 rent7.1% yield
▲ 1.6% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.