Cost Of Living
Taking into account the cost of goods and services like housing, groceries, transportation and utilities, the overall cost of living in this area is well below average.
Housing
High scores in the housing category are a distinguishing feature of this area, possibly driven by a favorable home affordability ratio, higher home values and appreciation rates.
Health & Safety
Good air quality as well as nearby health facilities like hospitals, clinics, nursing homes, fire and police stations all contribute to a higher than average health and safety score.
Ratings
Based on recent surveys and polls, locals gave high marks in the walkability to local amenities, safety, public transit, friendliness of neighbors and overall sense of community in the area.
Amenities
The majority of amenities are not ideally located within walking distance. To access these amenities, residents may be required to rely on a vehicle or public transit.
Commute
A low commute score could be due to longer-than-average work commutes and the limited availability of public transportation in this area.
Employment
In the employment category, a low score could be attributed to low income levels and high unemployment in the area, suggesting potential difficulties in finding lucrative employment.
Richmond, Kentucky is a mid-sized city with a population of 35,744 people. According to the most recent Census, 88% of Richmond residents are White, 6% Black and 2% Asian. If you are a young adult or student, you might be pleased to know that the average age of all Richmond residents is 26. Richmond is not known to have a high population (over 15 years old) of married people. At only 36% married, this city falls well below the national average. If you are not a fan of long commutes, you will enjoy living in Richmond. With an average one way commute time of only 20 minutes, getting to and from work is a breeze compared to the national average of 26 minutes.
Are you trying to ascertain if living in Richmond is the right fit for your lifestyle? To ensure a fulfilling experience before relocating to any new city in Kentucky, you will probably want to make sure that you check all of the most important boxes. Several key factors deserve attention. For one, safety is paramount, ensuring that your new area is low in crime is key. Proximity to workplaces or schools minimizes commute times and fosters convenience. Access to essential amenities like parks, grocery stores, food, fitness, shops and healthcare facilities enhances daily life. Efficient public transportation options provide mobility and connectivity. The sense of community creates a welcoming and supportive environment. Lastly, the overall atmosphere, encompassing the vibe, aesthetics, and lifestyle offerings, contributes to a fulfilling living experience. Considering these elements helps identify the ideal neighborhood for your needs and preferences. Using the livability score which includes data from categories like amenities, cost of living, employment, you can easily compare the best places to live in Richmond and also determine if there are any nearby cities that might be a better match for your lifestyle. You can also compare Richmond to Kentucky and the national average.
The livability score in Richmond is 68 out of 100 and the city is ranked in the 73rd percentile of all cities across America. Based on the rankings for each individual category, Richmond has received high marks for crime (B+), cost of living (A+) and housing (B-). There is at least one category that does not have great scores in Richmond. The following was graded with a discouraging score: amenities (F) and employment (F).
Low rates of violent crime, encompassing offenses such as murder, rape, robbery and assault, contribute significantly to a safer living environment. This reduction in crime minimizes the chances of personal harm, property theft, or violent incidents. Furthermore, low crime rates can have a positive impact on property values and the overall desirability of an area. There were 180 crimes per 100,000 residents, which signifies that Richmond boasts an impressively low violent crime rate that falls well below the national average.
Finding affordable real estate and housing in Richmond can be tricky. Having said that, this area might be the place to get the best of both worlds. Based on factors like home/rental affordability and appreciation rates, this area has received an above average score in the housing category. A healthy real estate market can lead to wealth appreciation for property owners, as rising property values can contribute to homeowners' equity, financial stability and the ability to build long-term wealth.
There are many factors that go into deciding if an area is the right fit for your lifestyle. Certain “must haves” like low crime, great schools and nearby amenities are all at the top of most people's lists. But before even considering if those options are attainable, we'll need to know if the real estate in Richmond is actually affordable. The median home price for Richmond homes is $148,900, which is 18.1% higher than the Kentucky average. If we take a closer look at the affordability of homes in Richmond, we’ll see that the home price to income ratio is 3.8, which is 35.7% higher than the Kentucky average.
| Statistic | Richmond | Kentucky | National |
| Average one way commute | 20min | 23min | 26min |
| Workers who drive to work | 78.9% | 82.2% | 76.4% |
| Workers who carpool | 9.7% | 9.7% | 9.3% |
| Workers who take public transit | 0.3% | 1.1% | 5.1% |
| Workers who bicycle | 0.2% | 0.2% | 0.6% |
| Workers who walk | 5.4% | 2.4% | 2.8% |
| Working from home | 4.1% | 3.3% | 4.6% |
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