The typical owner-occupied home in Richards is worth about $158,300, 44% below the Texas median of $283,800 and 52% below the national median of $332,700. Owners pay a median $933 a year in property taxes, about 0.59% of their home's value, lower than the Texas rate of 1.49%. The median household earns $75,500 a year, so the median home costs 2.1 times the median income (3.6 times for Texas). 100% of occupied homes here are lived in by their owners, and 11% of those owners still have a mortgage.
Richards at a glance
| Richards | Texas | U.S. | |
|---|---|---|---|
| Median home value | $158,300 | $283,800 | $332,700 |
| Median property tax paid per year | $933 | $4,232 | $3,119 |
| Property tax as a share of value | 0.59% | 1.49% | 0.94% |
| Median household income | $75,500 | $78,476 | $80,734 |
| Homes lived in by their owners | 100% | 63% | 65% |
| Owner homes with a mortgage | 11% | 56% | 61% |
| Median monthly costs, owners with a mortgage | – | $2,106 | $1,963 |
| Median rent | – | $1,403 | $1,413 |
| Median year homes were built | 1986 | 1992 | 1980 |
| Vacant homes | 50.0% | 9.4% | 10.1% |
| Population | 67 | 30,188,424 | 334,922,499 |
What a typical home costs per month in Richards
At this week's average 30-year rate of 7.11%, buying the median Richards home of $158,300 with 20% down costs about $996 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,259, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $42,673 for the 20%-down payment. That payment is 16% of the median Richards household income of $75,500; at that income and 20% down, the 28% guideline points to a home of about $280,000.
| Down payment | $31,660 |
|---|---|
| Loan amount | $126,640 |
| Principal and interest | $852 |
| Property taxes (0.59% a year) | $78 |
| Homeowners insurance (our estimate, 0.5% a year) | $66 |
| PMI | $0 |
| Total per month | $996 |
Change the numbers in the calculator
| Down payment | $5,540 |
|---|---|
| Loan amount | $155,433 |
| Principal and interest | $1,046 |
| Property taxes (0.59% a year) | $78 |
| Homeowners insurance (our estimate, 0.5% a year) | $66 |
| FHA mortgage insurance | $70 |
| Total per month | $1,259 |
Change the numbers in the calculator
Questions about home buying in Richards
What is the median home value in Richards?
About $158,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Richards?
Homeowners pay a median $933 a year, which is about 0.59% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Richards?
For the median home with 20% down at 7.11%, the payment is about $996 a month. Keeping that under 28% of gross income takes about $42,673 a year.
More about Richards
- Mortgage Refinance in Richards
- Debt Relief in Richards
- Home Equity Loans in Richards
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data