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.
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.
Richmond, Missouri is a small-sized city with a population of 5,739 people. At 93%, the majority of the Richmond population is White; this is followed by 3% Black and 0% Asian. Long travel times to work can be one of the most frustrating things in the world - right behind housework! If you decide that living in Richmond is the right fit for you, your one way commute time will average 27 minutes, which is about average when compared to the national commute time of 26 minutes.
Without the right tools, moving to any new city can be very stressful and challenging. Living in Richmond, Missouri could be a great experience for anyone who puts in the time to do the research required. When searching for a new neighborhood, several key items should be considered. Safety is paramount, ensuring a secure environment for you and your family. Proximity to workplaces or schools reduces commuting time and enhances convenience. Access to amenities like parks, grocery stores and healthcare facilities contributes to a comfortable lifestyle. Reliable public transportation options promote easy mobility. A strong sense of community fosters social connections and a welcoming atmosphere. The best areas in Richmond and in surrounding cities are easier to find when you are able to make informed decisions. Using data from amenities, crime, commute, health & safety, housing, you will see a detailed breakdown of the most important information as well as comparisons to the Missouri and national averages.
Richmond has a livability score of 67 out of 100 and is ranked #196 in Missouri and #10,016 in the USA. For each of the livability categories, we can establish that Richmond ranks very well for employment (B-) and housing (A+). Regrettably for Richmond, there are some categories for which it does not score well, this includes: amenities (F) and crime (D-).
The unemployment rate in Richmond has consistently declined over the years and currently stands well below the national average at 2.1%. This downward trend holds the potential to reduce poverty and inequality within the region, promote higher wage levels and stimulate greater economic growth. Such positive indicators signal the overall robust health of the local economy, offering a promising outlook for its residents and fostering an environment of financial well-being and prosperity.
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. Median real estate prices in Richmond come in at $179,285, which is 28.2% lower than the Missouri average. The home price to income ratio compares the median home prices to the median household income. In Richmond, the home price to income ratio is 2.1, which is 38.2% lower than the Missouri average.
| Statistic | Richmond | Missouri | National |
| Average one way commute | 27min | 23min | 26min |
| Workers who drive to work | 86.5% | 81.6% | 76.4% |
| Workers who carpool | 6.6% | 9.1% | 9.3% |
| Workers who take public transit | 1.7% | 1.5% | 5.1% |
| Workers who bicycle | 0.0% | 0.3% | 0.6% |
| Workers who walk | 3.1% | 1.9% | 2.8% |
| Working from home | 2.0% | 4.6% | 4.6% |
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