The typical owner-occupied home in Richmond County is worth about $231,500, 40% below the Virginia median of $383,700 and 30% below the national median of $332,700. Owners pay a median $1,290 a year in property taxes, about 0.56% of their home's value, lower than the Virginia rate of 0.73%. The median household earns $66,304 a year, so the median home costs 3.5 times the median income (4.1 times for Virginia). 75% of occupied homes here are lived in by their owners, and 57% of those owners still have a mortgage.
Richmond County at a glance
| Richmond County | Virginia | U.S. | |
|---|---|---|---|
| Median home value | $231,500 | $383,700 | $332,700 |
| Median property tax paid per year | $1,290 | $2,790 | $3,119 |
| Property tax as a share of value | 0.56% | 0.73% | 0.94% |
| Median household income | $66,304 | $93,170 | $80,734 |
| Homes lived in by their owners | 75% | 67% | 65% |
| Owner homes with a mortgage | 57% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $1,361 | $2,127 | $1,963 |
| Those costs as a share of the owners' income | 18.2% | 20.1% | 21.0% |
| Median rent | $1,067 | $1,579 | $1,413 |
| Rent as a share of renters' income | 22.4% | 29.4% | 30.6% |
| Median year homes were built | 1978 | 1984 | 1980 |
| Vacant homes | 20.0% | 8.7% | 10.1% |
| Population | 9,095 | 8,705,170 | 334,922,499 |
What a typical home costs per month in Richmond County
At this week's average 30-year rate of 7.11%, buying the median Richmond County home of $231,500 with 20% down costs about $1,450 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,836, 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 $62,157 for the 20%-down payment. That payment is 26% of the median Richmond County household income of $66,304; at that income and 20% down, the 28% guideline points to a home of about $247,000.
The median rent here is $1,067 a month, so owning the median home costs about $383 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $46,300 |
|---|---|
| Loan amount | $185,200 |
| Principal and interest | $1,246 |
| Property taxes (0.56% a year) | $108 |
| Homeowners insurance (our estimate, 0.5% a year) | $96 |
| PMI | $0 |
| Total per month | $1,450 |
Change the numbers in the calculator
| Down payment | $8,102 |
|---|---|
| Loan amount | $227,307 |
| Principal and interest | $1,529 |
| Property taxes (0.56% a year) | $108 |
| Homeowners insurance (our estimate, 0.5% a year) | $96 |
| FHA mortgage insurance | $102 |
| Total per month | $1,836 |
Change the numbers in the calculator
Questions about home buying in Richmond County
What is the median home value in Richmond County?
About $231,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Richmond County?
Homeowners pay a median $1,290 a year, which is about 0.56% 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 Richmond County?
For the median home with 20% down at 7.11%, the payment is about $1,450 a month. Keeping that under 28% of gross income takes about $62,157 a year.
More about Richmond County
- Mortgage Refinance in Richmond County
- Debt Relief in Richmond County
- Home Equity Loans in Richmond County
- 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