Richmond, MN
Population 1,336 · Minnesota
About Richmond, MN
Richmond is a small community in Minnesota with a population of 1,336 residents. The median household income is $67,381 per year, which is near the national average. The median age in Richmond is 39.7 years.
Housing in Richmond has a median home value of $225,500 and median monthly rent of $584. Of the 580 total housing units, the majority are owner-occupied, with 490 owner-occupied and 68 renter-occupied units.
The unemployment rate in Richmond is 1.9% and the poverty rate is 10.2%. 17.4% of residents hold a bachelor's degree or higher. The average commute time is 20 minutes.
Cost of Living in Richmond, MN
Compared to national averages, Richmond has a median household income of $67,381 (10% below the national median of $75,149). Home values average $225,500, which is 8% below the national median. Monthly rent at $584 is 50% below the US average of $1,163. Within Minnesota, Richmond's income is 9% below the state average of $74,221, and home values are 10% above the state median of $204,472.
Why Live in Richmond, MN?
Richmond offers affordable housing with a median home value of $225,500, below the US average of $244,900, and rent that’s lower than the national average at $584/month, and a strong job market with an unemployment rate of just 1.9%. Additionally, the city features a low poverty rate of 10.2%, better than the national average, and short commute times averaging just 20 minutes.
Potential considerations include median household income ($67,381) 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 1,336 with a median age of 39.7 years. Compare Richmond with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Richmond
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Wheaton | 1,334 | $52,260 | $82,200 | Compare |
| Dassel | 1,332 | $59,750 | $218,900 | Compare |
| Fulda | 1,348 | $68,056 | $155,100 | Compare |
| New York Mills | 1,319 | $51,696 | $144,900 | Compare |
| Preston | 1,315 | $60,438 | $169,600 | Compare |
| Appleton | 1,360 | $40,117 | $71,300 | Compare |
| Tonka Bay | 1,361 | $151,563 | $869,900 | Compare |
| Starbuck | 1,307 | $60,217 | $168,100 | 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.
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Frequently Asked Questions about Richmond
What is the population of Richmond, MN?
The population of Richmond, MN is 1,336 according to the latest Census data.
What is the median household income in Richmond?
The median household income in Richmond, MN is $67,381 per year.
What is the median home value in Richmond?
The median home value in Richmond, MN is $225,500.
What is the average rent in Richmond?
The median monthly rent in Richmond, MN is $584.
What is the unemployment rate in Richmond?
The unemployment rate in Richmond, MN is 1.9%.