Housing & Real Estate — Richfield, Minnesota
Overview
| Total Housing Units | 16,759 |
|---|
| Occupied | 16,221 |
|---|
| Vacant | 538 |
|---|
| Owner-Occupied | 10,129 |
|---|
| Renter-Occupied | 6,092 |
|---|
| Median Home Value (Census) | $344,000 |
|---|
| Estimated 2026 | ~$406,000 |
|---|
| Median Rent | $1,334/mo |
|---|
| Median Property Tax | $3,905/yr |
|---|
Affordability
| Home Price to Income Ratio | N/Ax |
|---|
| Home Affordability | moderate |
|---|
| Rent as % of Income | 18.8% |
|---|
| Severely Rent-Burdened | 33.2% |
|---|
Housing Age
| Built 2010 or later | 1,049 |
|---|
| Built 2000-2009 | 989 |
|---|
| Built 1990-1999 | 759 |
|---|
| Built before 1960 | 9,190 |
|---|
| Median Year Built | 1959 |
|---|
Sources: Census ACS 5-Year 2023; Census ACS 5-Year 2023, B25077; HUD FMR FY2026.
