Richmond, MN demographics:
population, income, and more

Total population
1,431
7.1% year-over-year change
Median household income
$71,438/yr
6.0% year-over-year change
Housing units
602
3.8% year-over-year change

Richmond population

How many people live in Richmond

Richmond is home to 1,431 residents, according to the most recent Census data. Gender-wise, 48.2% of Richmond locals are male, and 51.8% are female.

Total population
1,431
7.1% year-over-year change
Gender ratio
Male
48.2%
689
Female
51.8%
742
Value Percent YoY change
Male 689 48.2% 7.7%
Female 742 51.8% 6.6%
A higher population often means more rental variety and livelier areas. The gender balance—how many men live here compared to women—can reveal a lot about the community and the lifestyles of its residents. Use this info to get a sense of the area's pace and personality.

Age demographics

The median age in Richmond is 40, with the population distributed as follows: about 20.5% are children under 15, then 14% are in the 15 to 24 age group. Adults between 25 and 44 make up 24.1% of the population, while another 24.8% fall into the 45 to 64 bracket. Finally, around 16.6% are 65 or older.

Median age
39.5
Age breakdown
Under 15
20.5%
15 to 24
14%
25 to 44
24.1%
45 to 64
24.8%
Over 65
16.6%
Value Percent YoY change
Under 15 293 20.5% 7.3%
15 to 24 201 14% 13.6%
25 to 44 345 24.1% 8.5%
45 to 64 355 24.8% 10.2%
Over 65 237 16.6% -3.7%
The age composition helps you get insight into who lives in the area. A younger population might mean a more active, fast-paced vibe, while an older one could suggest a quieter, slower lifestyle. If there's a balanced makeup, you’re likely to find a variety of services, housing types, and community spaces that cater to different life stages.

Racial makeup

In Richmond, 98.8% of the population are US-born citizens, while 0.1% have gained naturalized citizenship. At the same time, 1% of residents are non-citizens. There’s also a share of 5.4% that includes residents with two or more races.

Citizenship
U.S.-born citizens
98.8%
Non-U.S.-born citizens
0.1%
Non-citizens
1%
Value Percent YoY change
U.S.-born citizens 1,414 98.8% 7.7%
Non-U.S.-born citizens 2 0.1% -50.0%
Non-citizens 15 1% -21.1%
Racial breakdown
White
91.5%
Black or African American
0%
American Indian and Alaska Native
0%
Asian
0.8%
Native Hawaiian and other Pacific Islander
0%
Two or more races
5.4%
Other
2.3%
Value Percent
White 1,310 91.5%
Asian 11 0.8%
Two or more races 77 5.4%
Other 33 2.3%

Households in Richmond

A peek inside Richmond households

Richmond has 579 households, with an average of 2 members in each. Of these, 66.3% are families, while the remaining 33.7% are made up of individuals living alone or with non-relatives, such as roommates.

Households stats

Total households
579
3.8% year-over-year change
Average people per household
2
Non-family households
195
Family households
384
Value Percent YoY change
Non-family households 195 33.7% -3.0%
Family households 384 66.3% 7.6%
The mix between family and non-family households gives a glimpse into daily life. A higher percentage of families might mean more parks and schools, while more non-family setups can mean flexible housing and diverse living styles. For renters, this can signal what kinds of homes are common and can help you figure out if the area matches your lifestyle.

Housing in Richmond

The housing landscape of Richmond

Richmond's housing consists of 602 units, with 91.9% being detached single-family homes ideal for those wanting space.

Housing units
602
3.8% year-over-year change
Housing types
Value Percent
1 unit, detached 553 91.9%
5 to 9 units 27 4.5%
10 to 19 units 10 1.7%
20 to 49 units 12 2%
Homes built since 2020
2
% year-over-year change

The age of buildings in Richmond

In Richmond, the median construction year is 1976. About 27.7% of homes were built before the 1940s, with another 3.2% going up by 1949. Most development happened in the second half of the 20th century. Then, 12% of homes were added from 2000 to 2009, 4.2% between 2010 and 2019, and 0.3% are part of the newest wave of development.

Construction year breakdown by decade
Value Percent YoY change
Built in 1939 or earlier 167 27.7% -2.3%
Built between 1940 and 1949 19 3.2% -9.5%
Built between 1950 and 1959 36 6% -10.0%
Built between 1960 and 1969 24 4% 20.0%
Built between 1970 and 1979 87 14.4% 8.8%
Built between 1980 and 1989 78 13% -10.3%
Built between 1990 and 1999 92 15.3% 31.4%
Built between 2000 and 2009 72 12% 4.3%
Built between 2010 and 2019 25 4.2% 13.6%
Built in 2020 or later 2 0.3% N/A
As a renter, knowing when homes were built helps you understand the potential condition and design of rental units. Newer builds may have more contemporary layouts, while older homes can offer character or larger lots, depending on the area.

Richmond occupancy rates

Out of the 579 occupied housing units in Richmond, 86.2% are owner-occupied, while 13.8% are lived in by tenants. Meanwhile, 3.8% of all homes on the local market sit vacant.

Occupied housing units
579
3.8% year-over-year change
Occupancy breakdown
Renter occupied
80
Owner occupied
499
Value Percent YoY
change
Renter occupied 80 13.8% 17.6%
Owner occupied 499 86.2% 1.8%
Unoccupied housing units
3.8%
Unoccupied housing units refer to homes that are currently without residents—whether they're waiting for renters or owners, used seasonally, or simply unclaimed. A higher share of empty homes may mean more housing availability, while a low number can reflect a tighter market with more competition. This, along with the renter-vs.-owner mix, helps paint a clearer picture of what types of housing and services are likely to be available in the area.

Richmond housing costs

Housing costs in Richmond come to a median of $1,162 per month, while tenants specifically pay a median gross rent of $648.

Median housing costs per month
$1,162/month
This figure sums up typical monthly housing costs for all households in the area. If you own, it includes mortgage payments in addition to property taxes, insurance and HOA fees. If you rent, it accounts for rent plus extras like utilities. It’s useful for seeing how local living expenses stack up compared to other places.
Median gross rent in Richmond
$648/month
Gross rent gives a more complete look at what renters actually pay, including not just base rent, but also utilities and fees. It’s a key number for evaluating rental affordability in your area of interest and understanding how it compares to nearby locations.

Education in Richmond

Richmond education at a glance

About 46.2% of the population in Richmond went to high school, while 18.9% pursued college studies. Another 15.3% earned an associate degree and 11.9% hold a bachelor’s. Meanwhile, 3.6% went even further, earning a master’s or doctorate.

Education level
Value Percent YoY change
No high school 45 4.1% -13.5%
High school diploma 503 46.2% 10.3%
College diploma 206 18.9% 3.0%
Associate degree 166 15.3% 18.6%
Bachelor's degree 129 11.9% 11.2%
Graduate degree 39 3.6% 0.0%
A community’s education mix can offer insights into the local economy and housing market. Higher levels of education often align with more job opportunities and stable incomes, which can increase demand for homes and influence both rent prices and rental availability.

Income in Richmond

How much people earn in Richmond

The average annual household income in Richmond was $83,665 in 2024, the most recent annual data available, according to the U.S. Census Bureau. This marked a +5.4% change from the previous year. At the same time, the median income stood at $71,438, reflecting a +6% shift over the same period.

Average household income in Richmond
$83,665/year
5.4% year-over-year change
Median household income in Richmond
$71,438/year
6.0% year-over-year change

Richmond income by age

In Richmond, households led by residents aged 25 to 44 — usually in the early to mid stages of their careers — have a median income of $83,250. Those with someone between 45 and 64 in charge, often well established professionally, earn $93,000 overall. Younger households, where the main provider is under 25 and just starting out, report a median income of $101,607, while those led by someone over 65, many of whom may be retired, have about $33,125 in earnings. Overall, 89.7% of the locals in this community live above the poverty line.

Income breakdown by age
Value YoY change
Under 25 $101,607 N/A
25 - 44 $83,250 -8.8%
45 - 64 $93,000 6.8%
Over 65 $33,125 3.9%
Above poverty level
1,251
Below poverty level
144
Value Percent YoY
change
Above poverty level 1,251 89.7% 6.5%
Below poverty level 144 10.3% 8.3%

Average renter income in Richmond

To get a better sense of what renters earn on average in Richmond, their median household income was $21,875 according to 2022 Census data. In addition, the rent-to-income ratio in the area, at 35.5%, shows what portion of their earnings goes toward housing expenses.

Renter median household income
$21,875
Rent-to-income ratio
35.5%
Understanding the rent-to-income ratio can help renters gauge if local housing costs align with their earnings. A ratio under 30% usually signals affordability, while exceeding this mark means rent is taking a larger-than-recommended bite out of income. That could make it harder for you to cover other costs like transportation, healthcare, or child care.

Employment in Richmond

Workforce and job types in Richmond

The job market in Richmond is powered by 839 working residents, spread across a range of industries and roles. 63.4% of the working population are employed in professional or administrative positions, while 36.6% are in hands-on or service-based jobs. Also, 7.4% run their own businesses, 73.9% are employed by private companies, and 9.8% work in the public sector.

Workforce demographics

Working population
839
13.2% year-over-year change
White collar
532
Blue collar
307
Value Percent YoY change
White collar 532 63.4% 8.8%
Blue collar 307 36.6% 21.8%
Employer type
Self employees
7.4%
Private companies
73.9%
Governmental workers
9.8%
Not for profit companies
8.9%
Value Percent YoY change
Self employees 62 7.4% -7.5%
Private companies 620 73.9% 16.1%
Governmental workers 82 9.8% 34.4%
Not for profit companies 75 8.9% -5.1%
Unemployment rate
1.6%
0.0% year-over-year change

Available workforce

The unemployment rate in Richmond stands at 1.6%, representing the share of the workforce currently without a job and actively looking for one.

For renters, the unemployment rate helps paint a picture of job security and financial stability in the area. Rates around 4% to 5% are considered typical. A lower-than-average rate might suggest strong job prospects and a thriving local economy, while a higher rate could hint at fewer opportunities—both useful to consider when planning a move.

Transportation in Richmond

How people get around in Richmond

Commuting methods vary: 86.2% of residents travel by personal vehicle and 0.8% prefer to walk, while the remaining share relies on public transit or on two wheelers to get from A to B.

Means of transportation
Value Percent YoY change
Car 691 86.2% 10.2%
Bus or trolleybus 7 0.9% 40.0%
Bicycle 7 0.9% N/A
Walk 6 0.8% 0.0%
Understanding how locals get to work can help you plan your own routine. High car usage might mean you’ll need a vehicle, while strong public transit or walkability could save you the hassle. Commute times also play a big role in quality of life—shorter trips can give you more time for the things you enjoy.

What is the median and average household income in Richmond by zipcode?

Zipcode Population Number of households Median income Average income
56368 4,262 1,674 $97,407 $109,888

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FAQs about Richmond demographics 

What is the total population of Richmond?

Richmond has a total population of 1,431 residents, according to the latest release from the U.S. Census Bureau: the 2019-2023 American Community Survey (ACS) 5-year estimates. This figure changed by +7.1% compared to a year ago.

What is the gender ratio in Richmond?

The gender ratio in Richmond is as follows:
  • 48.2% males (689 residents)
  • 51.8% females (742 residents)

What is the median age in Richmond?

The median age in Richmond is 39.5.

What is the age distribution of the population in Richmond?

The age distribution in Richmond is as follows:
  • Under 15: 20.5% (293 residents)
  • Ages 15-24: 14% (201 residents)
  • Ages 25-44: 24.1% (345 residents)
  • Ages 45-64: 24.8% (355 residents)
  • Over 65: 16.6% (237 residents)

What is the racial and ethnic makeup of Richmond?

The racial and ethnic makeup of Richmond is as follows:
  • White: 91.5% (1,310 residents)
  • Black or African American: 0% (0 residents)
  • American Indian and Alaska Native: 0% (0 residents)
  • Asian: 0.8% (11 residents)
  • Native Hawaiian and Other Pacific Islander: 0% (0 residents)
  • Two or More Races: 5.4% (77 residents)
  • Other: 2.3% (33 residents)

What percentage of the population in Richmond are U.S.-born citizens?

U.S.-born citizens represent 98.8% of the population in Richmond.

How many housing units are there in Richmond?

There are 602 housing units in Richmond, reflecting a +3.8% change compared to the previous year, according to the latest data from the U.S. Census Bureau.

How many households are in Richmond and what is the average household size?

Richmond has a total of 579 households, with an average of 2 people in each.

What is the median household income in Richmond?

Richmond has a median household income of $71,438, representing a +6.0% shift from the previous year, according to the U.S. Census Bureau.

What is the employment rate and job market overview for Richmond?

The employment rate is 98.4% in Richmond, with a workforce of 839 residents. Here’s a detailed breakdown of the local job market:

Job types:
  • White-collar workers: 63.4% (532 residents)
  • Blue-collar workers: 36.6% (307 residents)

Places of employment:
  • Self-employed: 7.4% (62 residents)
  • Private companies: 73.9% (620 residents)
  • Governmental workers: 9.8% (82 residents)
  • Not-for-profit companies: 8.9% (75 residents)

Data source & methodology

The demographic data on this page was sourced from the latest U.S. Census Bureau release—the 2019–2023 American Community Survey (ACS) 5-year estimates.

The information, issued annually, is compiled and published by the Point2Homes Research Team as soon as new data becomes available.

No representation, guarantee, or warranty is made concerning the accuracy or completeness of modified or aggregated information for particular areas.

Page last updated: September 2025