Affordable & Income-Based Housing in Richmond

Affordability

According to Census ACS 5-Year data (as of 2024), the median household income in Richmond is $45,399 annually, the median gross rent is $822 per month, and renters make up 43% of occupied households. These figures help show why income-restricted housing plays an important role in keeping costs manageable for a large share of Richmond residents.

Safety

According to the Richmond Police Department's data reported to the FBI Crime Data Explorer, Richmond had a violent crime rate of 419 per 100,000 residents in 2024. Keep in mind that crime rates are not directly comparable across cities due to differences in reporting practices and local definitions.

For flood risk, 2 of the 11 HUD-assisted properties in Richmond are located in high-risk flood zones, based on flood mapping data.

Getting Around Richmond

According to Walk Score, the areas around Richmond's assisted properties score 45 out of 100 (Car-Dependent) for walkability and 42 out of 100 for bikeability. No Transit Score is available for this area. Most errands and commutes will likely require a personal vehicle.

Schools

According to NCES Common Core of Data, 9 public schools across 1 district serve Richmond, including 6 elementary, 2 middle, and 1 high school. Ratings vary by school, so renters should check the assigned schools for a specific address before applying.

Cost of Living in Richmond, IN

The median household income in Richmond is $45,399 per year, according to Census ACS 5-Year data. The median rent across all rental housing in the city is $822 per month, also per Census ACS 5-Year estimates.

Affordable and income-based housing in Richmond can offer significant savings for renters who qualify. Rents at HUD-assisted and LIHTC properties are typically set as a percentage of area median income rather than at market rate, which can make a meaningful difference for budget-conscious households.

• Median household income: $45,399/year (Census ACS 5-Year)
• Median market rent: $822/month (Census ACS 5-Year)
• Renter-occupied households: 43% of all occupied units (Census ACS 5-Year)

Environment and Flood Risk

Of the 11 HUD-assisted properties in Richmond mapped for flood risk, 2 are in high-risk flood zones. The remaining 9 properties carry no high-risk flood designation.