Cost of Living in Richmond, TX
Population 12,117 · Texas · Data vintage 2023
(100 = US avg)
Richmond is a smaller Texas community of around 12000 residents, where median household incomes of $68,564 and housing costs ($230,000 for a typical home) give the local cost-of-living profile a distinctly small-town shape.
Geographically, Richmond sits roughly 8 miles west of Sugar Land. Median home values run roughly 43% lower than Sugar Land's $407,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Richmond
The median home value in Richmond is $229,800 — 25% below the national median of $305,000. Median rent runs $1,248/month, 5% lower than the national median of $1,314/month. The median household income of $68,564/year is 8% lower than the US median of $74,580. The local unemployment rate is 5.8%, above the national average of 4.8%. Texas charges no state income tax, a meaningful advantage for take-home pay. The climate averages highs of 80.7°F and lows of 61.4°F. Overall, Richmond has a cost of living index of 83 versus the US average of 100, meaning it is 17% less expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 64 | 68 | 74 | 80 | 87 | 92 | 95 | 94 | 90 | 83 | 74 | 67 |
| Low °F | 45 | 50 | 55 | 60 | 69 | 74 | 76 | 76 | 72 | 62 | 53 | 46 |
| Precip" | 3.63 | 2.83 | 3.49 | 4.26 | 5.24 | 4.22 | 4.16 | 5.27 | 4.42 | 4.65 | 3.78 | 3.76 |
Frequently Asked Questions
What is the cost of living in Richmond, TX?
Richmond has a cost index of 83 (100 = national average). It is 17% below the national average.
What is average rent in Richmond, TX?
The median gross rent in Richmond is $1,248 per month based on 2023 Census data.
What is the average home price in Richmond?
The median home value in Richmond is $229,800 according to Zillow and Census data.
What is the median income in Richmond?
The median household income in Richmond is $68,564 per year (2023 ACS 5-year estimates).
What is the sales tax in Richmond, TX?
The combined state and local sales tax rate in Richmond is 8.2%. Texas has no state income tax.
Is Richmond, TX affordable?
Yes, Richmond is generally considered affordable, with a cost of living index of 83 — about 17% below the US national average of 100.
What is the weather like in Richmond?
Richmond has average high temperatures of 80.7°F and average lows of 61.4°F. Annual precipitation is 49.7". Data from NOAA 1991–2020 Climate Normals.
Richmond at a Glance
- Population
- 12,117
- Median Income
- $68,564
- Home Value
- $229,800
- Median Rent
- $1,248/mo
- Unemployment
- 5.8%
- Avg High Temp
- 80.7°F
- Sales Tax
- 8.2%
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Texas Rankings
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