This section is generated from cached city metrics and clearly labeled state-level benchmarks. It is meant to make the Richmond page less generic and more useful for comparing housing, income, utilities, taxes, insurance, demographics, and nearby alternatives.
Affordability Summary
Population is 35,498, so Richmond should be compared with similar-size places before using broader Kentucky averages. Median household income is $48,223, so the best affordability read for Richmond is income versus housing, taxes, utilities, and insurance together.
Median home value is $205,900, so ownership costs in Richmond should be checked with mortgage, property tax, insurance, and maintenance assumptions. Two-bedroom rent is $860/mo, so renters can compare Richmond against ownership costs and nearby rental markets.
Housing and Income Context
For Richmond, income is more constrained, so utilities, rent, and taxes deserve extra attention. Home values sit in a moderate range where taxes and utilities still change the monthly math.
Use the home value, rent, and income fields together before deciding whether Richmond looks more favorable for renting, buying, or comparing with Berea, KY.
Utility Cost Context
The residential electricity benchmark is $0.149/kWh, so Richmond households should treat usage, home size, heating, and cooling as the practical bill drivers. The electricity value shown for Richmond is a Kentucky state-level EIA benchmark, so it should not be read as a local provider tariff.
For Richmond, utility planning is stronger when the electric benchmark is paired with home age, square footage, insulation, HVAC equipment, and household occupancy.
Property Tax Context
Median property tax paid is $1,643, so Richmond buyers should still verify parcel-specific tax records before budgeting. Parcel boundaries, exemptions, school districts, and reassessment rules can move the actual bill for a Richmond address.
Compare the property tax field with home value rather than reading it by itself; a lower tax bill can still pair with a different assessment base or exemption profile.
Insurance and Risk Context
Insurance costs in Richmond depend on address-level factors such as roof condition, structure age, coverage limits, claims history, deductible choice, and carrier underwriting.
Home value, tax burden, and insurance exposure should be reviewed together for Richmond, especially when comparing with Berea, KY.
Population and Demographics
Median age is 28.1, so Richmond may have different school, commute, healthcare, and housing demand patterns than a statewide average. Bachelor+ share is 34.3%, so Richmond education context can be useful when reading labor-market and school sections.
Unemployment is 4.3%, so Richmond wage and job-market context should be compared with commute options and regional employment centers.
