Richfield, MN
Population 36,725 · Minnesota
About Richfield, MN
Richfield is a mid-sized city located in Minnesota with a population of 36,725 residents according to the latest US Census Bureau American Community Survey data. The median household income is $84,055 per year, which is 12% above the national median of $75,149. The median age of 38.9 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Richfield features a median home value of $320,400, which is 31% above the national median of $244,900. This positions Richfield in a moderately priced market relative to the rest of the country. Median monthly rent is $1,334, 15% above the national average of $1,163/month. Of the 16,759 total housing units, 62% are owner-occupied (10,129 units) and 38% are renter-occupied (6,092 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Richfield shows an unemployment rate of 5.1%, which is near the national rate of 3.7%. The poverty rate stands at 7.3%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Richfield have an average one-way commute time of 23.2 minutes.
Education & Demographics
44.3% of Richfield residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 13.9% White, 3.1% Hispanic or Latino, 0.2% Black or African American, and 3.9% Asian residents, with 17.0% of the population being foreign-born.
How Richfield Ranks in Minnesota
Cost of Living in Richfield, MN
Compared to national averages, Richfield has a median household income of $84,055 (12% above the national median of $75,149). Home values average $320,400, which is 31% above the national median. Monthly rent at $1,334 is 15% above the US average of $1,163. Within Minnesota, Richfield's income is 13% above the state average of $74,221, and home values are 57% above the state median of $204,472.
Why Live in Richfield, MN?
Richfield offers a strong local economy with a median household income of $84,055, well above the national average, and a well-educated community where 44.3% of residents hold a bachelor’s degree or higher, and a low poverty rate of 7.3%, better than the national average. Additionally, the city features short commute times averaging just 23.2 minutes.
Richfield has a population of 36,725 with a median age of 38.9 years. Compare Richfield with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Richfield
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Roseville | 35,905 | $88,440 | $334,800 | Compare |
| Inver Grove Heights | 35,772 | $104,055 | $352,300 | Compare |
| Cottage Grove | 40,124 | $121,452 | $359,600 | Compare |
| Andover | 32,825 | $131,528 | $389,200 | Compare |
| Brooklyn Center | 32,811 | $72,009 | $261,100 | Compare |
| Savage | 32,706 | $122,646 | $395,600 | Compare |
| Maplewood | 40,981 | $88,534 | $291,300 | Compare |
| Fridley | 29,944 | $79,274 | $277,100 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Richfield With Other Cities
Frequently Asked Questions about Richfield
What is the population of Richfield, MN?
The population of Richfield, MN is 36,725 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Minnesota.
What is the median household income in Richfield?
The median household income in Richfield, MN is $84,055 per year, which is 12% above the national median of $75,149.
What is the median home value in Richfield?
The median home value in Richfield, MN is $320,400, which is 31% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Richfield?
The median monthly rent in Richfield, MN is $1,334, which is 15% above the national average of $1,163/month.
What is the unemployment rate in Richfield?
The unemployment rate in Richfield, MN is 5.1%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Richfield, MN a good place to live?
Richfield offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 36,725 and a median age of 38.9, the city appeals to a broad range of residents.
How educated is Richfield, MN?
44.3% of residents in Richfield aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Richfield?
Key cost-of-living indicators for Richfield, MN: median home value is $320,400 (31% above national), median rent is $1,334/month, and median household income is $84,055. The home-value-to-income ratio is 3.8x, a moderate figure by national standards.
What is the poverty rate in Richfield?
The poverty rate in Richfield, MN is 7.3%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Richfield, MN?
Richfield's population is 13.9% White, 3.1% Hispanic or Latino, 0.2% Black or African American, 3.9% Asian, and 9.9% two or more races. 17.0% of residents are foreign-born.