Richmond, MI
Population 5,839 · Michigan
About Richmond, MI
Richmond is a small community in Michigan with a population of 5,839 residents. The median household income is $61,715 per year, which is near the national average. The median age in Richmond is 38.3 years.
Housing in Richmond has a median home value of $228,000 and median monthly rent of $870. Of the 2,480 total housing units, the majority are owner-occupied, with 1,826 owner-occupied and 598 renter-occupied units.
The unemployment rate in Richmond is 8.4% and the poverty rate is 23.4%. 20.6% of residents hold a bachelor's degree or higher. The average commute time is 25.9 minutes.
Cost of Living in Richmond, MI
Compared to national averages, Richmond has a median household income of $61,715 (18% below the national median of $75,149). Home values average $228,000, which is 7% below the national median. Monthly rent at $870 is 25% below the US average of $1,163. Within Michigan, Richmond's income is 7% below the state average of $66,017, and home values are 24% above the state median of $183,391.
Why Live in Richmond, MI?
Richmond offers affordable housing with a median home value of $228,000, below the US average of $244,900, and rent that’s lower than the national average at $870/month.
Potential considerations include median household income ($61,715) that falls below the national average. However, Richmond’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Richmond has a population of 5,839 with a median age of 38.3 years. Compare Richmond with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Richmond
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Petoskey | 5,851 | $71,783 | $319,300 | Compare |
| Swartz Creek | 5,856 | $73,862 | $168,900 | Compare |
| Buena Vista | 5,904 | $38,835 | $51,800 | Compare |
| Houghton Lake | 5,761 | $50,861 | $122,800 | Compare |
| Belding | 5,949 | $55,895 | $152,700 | Compare |
| Holly | 5,971 | $61,221 | $174,900 | Compare |
| Zeeland | 5,691 | $49,367 | $248,100 | Compare |
| Dowagiac | 5,677 | $38,433 | $110,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Michigan
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Richmond
What is the population of Richmond, MI?
The population of Richmond, MI is 5,839 according to the latest Census data.
What is the median household income in Richmond?
The median household income in Richmond, MI is $61,715 per year.
What is the median home value in Richmond?
The median home value in Richmond, MI is $228,000.
What is the average rent in Richmond?
The median monthly rent in Richmond, MI is $870.
What is the unemployment rate in Richmond?
The unemployment rate in Richmond, MI is 8.4%.