Richland, Washington Housing Market Prices
Richland Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 44% below the Washington median$274,003
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Median rent 17% below the Washington median$1,468
Housing Market Overview
| Metric | Richland | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $274,003 | $485,016 | $248,835 |
| Price Trend (Annual %) | 10.5% | 10.9% | 7.5% |
| Median Gross Rent | $1,468 | $1,759 | $1,407 |
| Rent Trend (Annual %) | 6.3% | 6.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Richland is about 44% lower than in Washington. Rent is about 17% lower than the Washington average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Richland, up about 10.5% and 6.3% a year respectively. Home prices are changing faster.
Median rent in Richland rose about 66.0% between 2015 and 2024, from $884 to $1,468. Over the same span, rent in Washington rose about 73.4%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Richland.
Buying the median-priced home in Richland costs roughly 15.6 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Richland. The price-to-rent ratio in Washington is about 23.0.
| Metric | Richland | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $274,003 | $485,016 | $248,835 |
| Median Household Income | $95,237 | $98,224 | $80,455 |
| Price-to-Income Ratio | 2.9 | 4.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Richland rose about 28.4%, while median household income rose about 49.1% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Richland | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.1% | 59.1% | 58.5% |
| Rental Rate | 34.0% | 33.6% | 31.2% |
| Vacancy Rate | 5.9% | 7.3% | 10.2% |
| Median Tenure (years) | 11.0 | 14.0 | 15.0 |
| Median Year Moved In | 2015 | 2012 | 2011 |
Richland has a homeownership rate of 60.1%, higher than the Washington average of 59.1%. Its housing vacancy rate is 5.9%, compared with 7.3% in Washington.
Housing Stock
| Metric | Richland | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.47 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1982 | 1983 | 1978 |
| Median Number of Rooms | 5.9 | 5.5 | 5.5 |
The typical housing unit in Richland was built around 1982. On average, 2.5 people live in a home with about 5.9 rooms, staying for about 11.0 years on average.
Richland, WA Housing Compared With Nearby Cities
How Richland, WA compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Richland, WA | 59,474 | $274,003 #2/2 | $1,468 #1/2 | 63.9% #2/2 |
| Pasco, WA | 72,525 | $410,062 | $1,197 | 70.8% |
Frequently Asked Questions
Common questions about the housing market in Richland, Washington.
What is the median home price in Richland, Washington?
The median home price in Richland, Washington is $274,003, lower than the Washington average of $485,016.
What is the average home price in Richland, Washington?
The typical home price in Richland, Washington, reported as the median sale price, is $274,003. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Richland, Washington?
The median gross rent in Richland, Washington is $1,468 per month, lower than the Washington average of $1,759.
What was the median gross rent in Richland in 2020?
In 2020, the median gross rent in Richland, Washington was $1,126 per month.
What is the price-to-rent ratio in Richland, Washington?
The price-to-rent ratio in Richland, Washington is about 15.6, meaning it would take roughly 15.6 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Richland.
Are home prices or rent rising faster in Richland, Washington?
Both home prices and rent are rising in Richland, up about 10.5% and 6.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Richland, Washington?
60.1% of households in Richland, Washington own their home, higher than the Washington average of 59.1%.
What is the vacancy rate in Richland, Washington?
The housing vacancy rate in Richland, Washington is 5.9%, lower than the Washington average of 7.3%.
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