Richmond, UT
Population 2,971 · Utah
About Richmond, UT
Richmond is a small town located in Utah with a population of 2,971 residents according to the latest US Census Bureau American Community Survey data. The median household income is $103,047 per year, which is 37% above the national median of $75,149. The median age of 35 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Richmond features a median home value of $348,700, which is 42% above the national median of $244,900. This positions Richmond in a moderately priced market relative to the rest of the country. Median monthly rent is $930, 20% below the national average of $1,163/month. Of the 934 total housing units, 87% are owner-occupied (774 units) and 13% are renter-occupied (117 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Richmond shows an unemployment rate of 1.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 2.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Richmond have an average one-way commute time of 20.6 minutes.
Education & Demographics
32.3% of Richmond residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 5.8% White, 0.6% Hispanic or Latino, 0.0% Black or African American, and 0.3% Asian residents, with 1.5% of the population being foreign-born.
How Richmond Ranks in Utah
Cost of Living in Richmond, UT
Compared to national averages, Richmond has a median household income of $103,047 (37% above the national median of $75,149). Home values average $348,700, which is 42% above the national median. Monthly rent at $930 is 20% below the US average of $1,163. Within Utah, Richmond's income is 16% above the state average of $88,715, and home values are 18% below the state median of $426,386.
Why Live in Richmond, UT?
Richmond offers a strong local economy with a median household income of $103,047, well above the national average, and rent that’s lower than the national average at $930/month, and a strong job market with an unemployment rate of just 1.0%. Additionally, the city features a low poverty rate of 2.7%, better than the national average, and short commute times averaging just 20.6 minutes.
Richmond has a population of 2,971 with a median age of 35 years. Compare Richmond with other cities to see how it stacks up, or explore all cities in Utah.
Similar Cities Near Richmond
Cities in Utah with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Lake Point | 2,938 | $133,175 | $566,200 | Compare |
| Parowan | 3,095 | $49,934 | $299,800 | Compare |
| Naples | 3,217 | $94,048 | $264,100 | Compare |
| Helper | 2,680 | $61,908 | $207,700 | Compare |
| Erda | 3,294 | $153,068 | $600,700 | Compare |
| Blanding | 3,303 | $63,333 | $225,000 | Compare |
| Fillmore | 2,633 | $77,000 | $275,400 | Compare |
| Garland | 2,609 | $65,369 | $318,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Utah
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Richmond With Other Cities
Frequently Asked Questions about Richmond
What is the population of Richmond, UT?
The population of Richmond, UT is 2,971 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Utah.
What is the median household income in Richmond?
The median household income in Richmond, UT is $103,047 per year, which is 37% above the national median of $75,149.
What is the median home value in Richmond?
The median home value in Richmond, UT is $348,700, which is 42% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Richmond?
The median monthly rent in Richmond, UT is $930, which is 20% below the national average of $1,163/month.
What is the unemployment rate in Richmond?
The unemployment rate in Richmond, UT is 1.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Richmond, UT a good place to live?
Richmond offers above-average incomes, a competitive housing market, and a strong job market. With a population of 2,971 and a median age of 35, the city appeals to a broad range of residents.
How educated is Richmond, UT?
32.3% of residents in 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 Richmond?
Key cost-of-living indicators for Richmond, UT: median home value is $348,700 (42% above national), median rent is $930/month, and median household income is $103,047. The home-value-to-income ratio is 3.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Richmond?
The poverty rate in Richmond, UT is 2.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Richmond, UT?
Richmond's population is 5.8% White, 0.6% Hispanic or Latino, 0.0% Black or African American, 0.3% Asian, and 0.7% two or more races. 1.5% of residents are foreign-born.