New Listing
2
$77,500
6095 Preakness Pl Lot 61
Richmond, KY 40475
Land1.41 acres
Judd Hisel · ERA Select Real Estate
View photos & details
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Richmond, KY Housing Market
Balanced market+1.2% YoY
Zillow, August 2026 · Refreshes monthlyRedfin, through May 2026 · No longer updatingFreddie Mac via FRED, September 2026 · Refreshes weekly
The typical home in Richmond, KY is worth $301,436, rose 1.2% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $305,000, -2.6% year over year (through May 2026). With 2.3 months of supply and homes going under contract in about 53 days, Richmond is a balanced market. At today's 7.03% 30-year fixed rate, 20% down on a $301,436 home is about $1,609/mo in principal and interest.
Key numbers for Richmond, KY
Typical home value
$301,436
+1.2% in 12 months
Zillow, August 2026
Typical asking rent
$1,145/mo
Zillow Observed Rent Index
Zillow, August 2026
Median sale price
$305,000
-2.6% year over year
Redfin, through May 2026
Days on market
53
Average pace
Redfin, through May 2026
Active listings
112
2.3 months of supply
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$48,223
Home costs 6.3x income
U.S. Census ACS, 2023
Sale-to-list ratio
99.5%
Selling below asking
Redfin, through May 2026
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Richmond a buyer's or seller's market?
Balanced market2.3 months of supply53 days on market99.5% of asking
Richmond, KY is a balanced market, based on 2.3 months of supply and homes selling in about 53 days. Under 4 months of supply tilts the market toward sellers: homes clear faster than they are replaced, so concessions are scarce.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Richmond housing market data show?
Every row below is Redfin's final published month for Richmond, KY. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $305,000 |
| Median list price | $317,900 |
| Year-over-year price change | -2.6% |
| Median price per sq ft | $159/sq ft |
| Median days on market | 53 days |
| Active inventory | 112 listings |
| Months of supply | 2.3 months |
| Sale-to-list price ratio | 99.5% |
| Homes sold (that month) | 49 |
| New listings (that month) | 53 |
| Listings with a price cut | 28.6% |
| Market condition | Balanced market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Richmond is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Richmond is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Richmond home prices moved?
Over the last three years the median sale price in Richmond, KY rose 24.5%, from $245,000 to $305,000. The live Zillow value series has rose 1.2% in the last 12 months, which is the more current read now that Redfin's series has stopped. 28.6% of Richmond listings cut their asking price in the final Redfin month — a high share, and the clearest sign that list prices were running ahead of what buyers would pay. For prices to fall meaningfully from here, supply would have to keep building past 2.3 months while the sale-to-list ratio slips below its current 99.5%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Richmond?
Priced off the typical home value of $301,436 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $60,287 | $241,149 | $1,609/mo |
| 5% | $15,072 | $286,364 | $1,911/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $1,609, that implies roughly $68,967 a year before you add taxes and insurance. The median household in Richmond earns $48,223, about $20,744 short of that threshold — the typical local household needs a larger down payment, a co-borrower, or a home below the typical home value to fit the 28% rule. That puts the price-to-income ratio at 6.3x — well above the 3x that was historically considered affordable, which is why down payment size drives who can buy here.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Richmond in the next 12 months?
Tell us your timeline. We send the Richmond market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Richmond?
Typical asking rent in Richmond, KY is $1,145/mo, against a typical home value of $301,436. That is a price-to-rent ratio of 21.9x, which means renting tends to be the cheaper monthly option unless you stay long enough for appreciation to close the gap. Compared head to head, 20% down puts principal and interest at $1,609 a month — $464 more than renting before taxes and insurance, so the ownership case here rests on equity and appreciation rather than monthly cash flow.
Zillow, August 2026 for both value and rent
Add your own down payment, tax rate and time horizon in the rent vs. buy calculator.
Is inventory rising or falling in Richmond?
Active listings in Richmond, KY went from 167 in May 2025 to 112 in May 2026, a -32.9% change. Falling inventory tightens competition. When supply drops while demand holds, sale-to-list ratios rise before the median sale price does.
| Month | Active listings | New listings |
|---|---|---|
| June 2025 | 140 | 45 |
| July 2025 | 128 | 49 |
| August 2025 | 149 | 67 |
| September 2025 | 141 | 44 |
| October 2025 | 132 | 48 |
| November 2025 | 136 | 38 |
| December 2025 | 124 | 27 |
| January 2026 | 106 | 25 |
| February 2026 | 122 | 39 |
| March 2026 | 124 | 51 |
| April 2026 | 110 | 47 |
| May 2026 | 112 | 53 |
Redfin, through May 2026
How does Richmond compare to Kentucky and the U.S.?
Richmond homes sell for $305,000 — 7% above the Kentucky median of $284,400. Against the national median of $410,700, Richmond runs 26% lower. Year-over-year, Richmond moved -2.6% against Kentucky's +2.3% — a bigger swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Richmond, KY | $305,000 | -2.6% | 53 days |
| Kentucky statewide | $284,400 | +2.3% | 45 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Richmond
What buyers should watch
- Months of supply, currently 2.3. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 28.6%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $302 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $301,436 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Richmond listing goes under contract in 53 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 99.5% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- In the last published month Richmond added 53 new listings against 49 sales — more competition arriving than clearing, so early timing matters.
- Your equity moved +1.2% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Richmond varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Richmond
There are currently 112 homes listed for sale in Richmond, Kentucky. The median listing price is $318K. Featured listings range from $77,500 to $569,900.
New Listing
32
$259,000
824 Aster Ct
Richmond, KY 40475
3 bd2 ba1,400 sqft$185/ft²
House10,942 sqft lot
Shelley Paterson · In House Real Estate
View photos & details
New Listing
30
$269,900
106 Keystone Dr
Richmond, KY 40475
3 bd2 ba1,505 sqft$179/ft²
House9,718 sqft lot
Amanda Marcum · Berkshire Hathaway HomeServices Foster Realtors
View photos & details
New Listing
58
$285,000
54 Heron Landing Rd
Richmond, KY 40475
3 bd2 ba1,368 sqft$208/ft²
House1.33 acres
Tina Neal · RE/MAX Elite Realty
View photos & details
New Listing
29
$325,000
913 Paddock Ct
Richmond, KY 40475
2 bd2 ba1,659 sqft$196/ft²
Condo
S Paige Luxon · Keller Williams Legacy Group
View photos & details
New Build
32
$336,900
603 Comanche Trl
Richmond, KY 40475
3 bd2 ba1,548 sqft$218/ft²
House11,326 sqft lot
Brittany Cannon · Bluegrass Properties Group
View photos & details
New Build
2
$336,900
105 Choctaw Trl
Richmond, KY 40475
3 bd2 ba1,548 sqft$218/ft²
House12,197 sqft lot
Brittany Cannon · Bluegrass Properties Group
View photos & details
New Build
27
$342,065
4005 Stagecoach Dr
Richmond, KY 40475
4 bd2 ba1,771 sqft$193/ft²
House
View photos & details
New Build
28
$382,970
2032 Coachman Dr
Richmond, KY 40475
4 bd3 ba2,346 sqft$163/ft²
House
View photos & details
75
$439,995
1969 Red House Rd
Richmond, KY 40475
4 bd3 ba4,121 sqft$107/ft²
House3.28 acres
David Keene · United Real Estate Bluegrass
View photos & details
New Build
61
$549,900
100 Seven Oaks Dr
Richmond, KY 40475
4 bd4 ba2,521 sqft$218/ft²
House1.03 acres
Benjamin Lawwill · Keller Williams Legacy Group
View photos & details
New Build
4
$569,900
208 Carhartt Dr
Richmond, KY 40475
3 bd2 ba2,074 sqft$275/ft²
House1.00 acres
Brittany Cannon · Bluegrass Properties Group
View photos & details
Looking to buy in Richmond?
Get connected with a local real estate expert — free, no obligation.
Active listings
112
Homes on market
Median list price
$318K
Avg. days on market
53
Days until sale
New this week
53
Newly listed
Price drops:28.6%of listings
Sale-to-list:99.5%
How much do homes cost in Richmond by property type?
How the Richmond, KY market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $304,900 | $173/sq ft | 45 | 53 days |
| Condo / co-op | $330,000 | $191/sq ft | 2 | 57 days |
| Townhouse | $145,000 | $121/sq ft | 1 | 276 days |
Who lives in Richmond?
American Community Survey estimates for Richmond. U.S. Census ACS, 2023
Population
35,498
Households
14,741
Median income
$48,223/yr
Median age
28.1 years
Owner-occupied
40.1%
Median home value
$205,900
Median gross rent
$860/mo
Mean commute
23.8 min
40.1% of occupied homes in Richmond are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $205,900 against Zillow's $301,436 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions. Census median gross rent (all leases, including long-held ones) is $860/mo, below Zillow's $1,145/mo asking rent on new leases — the difference is roughly what a mover pays over a stayer.
Which public schools serve Richmond?
15 schools tracked · 7,138 students
The largest public schools serving Richmond, KY by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Madison Central High School
Grades 9-12 · 2,250 students
Kirksville Elementary School
Grades PK-5 · 620 students
Madison Middle School
Grades 6-8 · 588 students
Clark Moores Middle School
Grades 6-8 · 552 students
Daniel Boone Elementary School
Grades 1-5 · 493 students
Glenn R Marshall Elementary School
Grades 1-5 · 480 students
B. Michael Caudill Middle School
Grades 6-8 · 465 students
Kit Carson Elementary School
Grades 1-5 · 452 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Richmond, KY?
Ordered by distance from Richmond, not by size. Compare Richmond side by side with any of them.
Which ZIP codes are in Richmond?
These are the ZIP codes we see on active Richmond listings. Redfin did not publish a matching ZIP-level sale row for the same period, so we are not ranking them by price here — each ZIP page shows exactly what we hold for it.
Richmond housing market FAQ
Is Richmond a buyer's or seller's market?
Richmond, KY is currently a balanced market. That read comes from 2.3 months of supply, homes going under contract in about 53 days, and sellers getting 99.5% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Richmond?
The typical home in Richmond, KY is worth $301,436 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $305,000, about $159 per square foot.
Is Richmond cheaper than the rest of Kentucky?
Richmond's median sale price of $305,000 is 7% higher than the Kentucky statewide median of $284,400, and 26% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Richmond?
Homes in Richmond, KY spent a median of 53 days on market before going under contract, versus 45 days statewide. That is a normal pace: enough time to see a home twice, not enough to wait a month. (Redfin, through May 2026.)
What income do you need to buy a home in Richmond?
At the current 30-year fixed rate of 7.03%, 20% down on a $301,436 home is about $1,609 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $68,967 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $48,223.
Are home prices rising in Richmond?
The typical home value in Richmond, KY rose 1.2% over the last 12 months, from $297,991 to $301,436 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Richmond?
Richmond ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Richmond?
That depends on your timeline, not on a headline. What the data says today: Richmond, KY is a balanced market with 2.3 months of supply, the 30-year fixed rate is 7.03%, and the price-to-rent ratio of 21.9x means renting tends to be the cheaper monthly option unless you stay long enough for appreciation to close the gap. Properties Incorporated publishes the data; it does not give financial advice.
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