What it's like to live in Richmond
Richmond is a small city in Kentucky with rent below the national average, home prices that remain within reach, a population that has grown fast since 2020, and schools with class sizes near the national average. Those factors carry real weight for anyone weighing where to move next.
The tradeoffs are worth naming plainly. Richmond deals with household incomes below the national average, a poverty rate above the national average, cold winters, and above-average rainfall.
The good
- Rent below the national average
- Affordable home prices
- Fast-growing population
- Average class sizes
The not so good
- Below-average household incomes
- High poverty rate
- Cold winters
- Above-average rainfall
- Car-dependent — few commuters use transit
How Richmond compares
Median household income
Median rent (per month)
Median home value
What it takes to move to Richmond
Based on Richmond's median rent, home value and household income
To rent
$1,834
up front: first month plus a typical one-month deposit
- Income to keep rent under 30%: $36,680 a year
- 43% of Richmond renters spend 30% or more of their income on rent
To buy
$42,980
a 20% down payment on the median home
- With 10% down: $21,490
- Homes cost 4.2× the typical local household income (US: 4.1×)
Moving costs, closing costs and taxes not included.
The details
Cost of living▼ 35% below US
$917/mo median rent
Rent here is genuinely low, with median rent around $917 a month. Factoring in local incomes, the value gets even better. Money stretches further here than in most of the country. Home prices here are genuinely accessible, with a median around $214,900. That kind of affordability is rare in today's market.
Median home value $214,900 · 43% of renters cost-burdened
Job marketNear US average
4.7% unemployment
Unemployment here is 4.7%, close to the national average of 4.3%.
City-level (BLS)
Safety▼ 26% below US
243 violent crimes per 100k
Pretty safe, all things considered. Violent crime sits below the national average, nothing alarming, just ordinary city-life awareness.
Property crime 1630/100k · Richmond Police Department · 2025 data
Getting around▼ 12% below US
23 min average commute
Commutes are reasonable, averaging 23 minutes. Nothing heroic, and there's still time left over for a life after work. 9 in 10 workers drive to work; 8% work from home.
How workers get to work
Climate
Summers are warm, with highs around 84°F, and winters are cold, with lows around 25°F and snow a regular occurrence. Rainfall is regular throughout the year.
Average month
30-year averages, 1991–2020
Healthcare
1 hospital
There's one Medicare-certified hospital inside city limits, rated 4.0 out of 5 by Medicare. Hospitals in neighboring towns aren't counted here.
Medicare-certified hospitals
Education & workforceNear US average
35% bachelor's degree or higher
Education levels run about average, with 35% college-educated. It's a mix of white-collar and blue-collar work, which can be an asset or a limitation depending on the field.
Schools
13 public schools inside the boundary
There are 13 public schools inside the boundary and 2 private schools. The student-to-teacher ratio is 17:1, close to the national average of 16:1.
Parks & recreation
The nearest national park or historic site is Camp Nelson National Monument (17 miles away). There are 6 national parks and sites within a day's drive.
Bottom line
Richmond's strongest points are rent below the national average and home prices that remain within reach; the main tradeoffs are household incomes below the national average and a poverty rate above the national average. A year of median rent ($917/mo) equals 22% of the median household income here, about the same as the 21% typical nationwide. It tends to suit people watching their budget and anyone prioritizing low crime.
Other places near Richmond
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