New Richmond, IN
Population 441 · Indiana
About New Richmond, IN
New Richmond is a small community located in Indiana with a population of 441 residents according to the latest US Census Bureau American Community Survey data. The median household income is $80,104 per year, which is 7% above the national median of $75,149. The median age of 37.5 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in New Richmond features a median home value of $81,500, which is 67% below the national median of $244,900. This makes New Richmond one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $1,063, 9% below the national average of $1,163/month. Of the 176 total housing units, 92% are owner-occupied (150 units) and 8% are renter-occupied (13 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in New Richmond shows an unemployment rate of 6.8%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 6.3%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in New Richmond have an average one-way commute time of 43.5 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
10.8% of New Richmond residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.0% White, 0.5% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 2.5% of the population being foreign-born.
Cost of Living in New Richmond, IN
Compared to national averages, New Richmond has a median household income of $80,104 (7% above the national median of $75,149). Home values average $81,500, which is 67% below the national median. Monthly rent at $1,063 is 9% below the US average of $1,163. Within Indiana, New Richmond's income is 16% above the state average of $69,330, and home values are 50% below the state median of $163,409.
Why Live in New Richmond, IN?
New Richmond offers a strong local economy with a median household income of $80,104, well above the national average, and affordable housing with a median home value of $81,500, below the US average of $244,900, and rent that’s lower than the national average at $1,063/month. Additionally, the city features a low poverty rate of 6.3%, better than the national average.
New Richmond has a population of 441 with a median age of 37.5 years. Compare New Richmond with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near New Richmond
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Chrisney | 441 | $62,500 | $96,100 | Compare |
| Center Point | 442 | $92,604 | $96,200 | Compare |
| Hatfield | 442 | $77,857 | $128,000 | Compare |
| Delaware | 438 | $73,663 | $162,300 | Compare |
| Bruceville | 445 | $52,750 | $86,900 | Compare |
| Lake Holiday Hideaway | 445 | $68,191 | $97,600 | Compare |
| Center | 436 | $83,569 | $239,500 | Compare |
| Altona | 447 | $64,232 | $111,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare New Richmond With Other Cities
Frequently Asked Questions about New Richmond
What is the population of New Richmond, IN?
The population of New Richmond, IN is 441 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Indiana.
What is the median household income in New Richmond?
The median household income in New Richmond, IN is $80,104 per year, which is 7% above the national median of $75,149.
What is the median home value in New Richmond?
The median home value in New Richmond, IN is $81,500, which is 67% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in New Richmond?
The median monthly rent in New Richmond, IN is $1,063, which is 9% below the national average of $1,163/month.
What is the unemployment rate in New Richmond?
The unemployment rate in New Richmond, IN is 6.8%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is New Richmond, IN a good place to live?
New Richmond offers above-average incomes, affordable housing, and growing employment opportunities. With a population of 441 and a median age of 37.5, the city appeals to a broad range of residents.
How educated is New Richmond, IN?
10.8% of residents in New Richmond aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in New Richmond?
Key cost-of-living indicators for New Richmond, IN: median home value is $81,500 (67% below national), median rent is $1,063/month, and median household income is $80,104. The home-value-to-income ratio is 1.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in New Richmond?
The poverty rate in New Richmond, IN is 6.3%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is New Richmond, IN?
New Richmond's population is 0.0% White, 0.5% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 2.5% of residents are foreign-born.