The Current Housing Market in Richland, WA

If you are looking for homes for sale in Richland, WA you will want to know the state of the real estate market and a bit about the area before making any offers. Here are some important things to know about property in this area and the local region in general.

How Much Do Homes in Richland, WA Cost on Average?

The housing market in Richland is strong and steady with listings averaging around $380,000, or about $151 per square foot. However, the median sales price for homes currently is around $343,200 or around $194 per square foot. Market trends indicate an average sales price increase of around 11 percent in just the last year alone. Of course, pricing depends on location with most rural homes costing a bit less and urban homes costing a bit more on average. Naturally, the homes size, amenities and acreage will also factor into pricing.

Richmond’s Demographics

Richmond is a relatively quiet community with residents who are a median age of 40, and 33 percent of them are single as of the last census report. A predominantly owner-driven community, 77 percent of Richmond’s population are homeowners with a median annual household income of $63,200.

Fifty-three percent of the residents have received a college education of some type. There are well regarded schools in the city for those in need of K-12 education including some private and charter school options in addition to public schools.