What is the population of Richmond city?

Richmond city has 1,336 residents on Census ACS 2019-2023 ACS 5-year estimates, ranking #311 of 914 in Minnesota.

What is the median household income in Richmond city?

Median household income in Richmond city is $67,381 a year, 14.2% below the national figure of $78,538.

How much does it cost to rent or buy in Richmond city?

Median gross rent is $584 a month and the median home value is $225,500, so rent absorbs about 10.4% of median household income.

Is Richmond city affordable compared with the rest of the US?

Homes cost about 3.3× the local median income here versus roughly 3.9× nationally, so Richmond city is more affordable to buy in than the typical US market, and rent takes 10.4% of median income against the 30% cost-burden line.

Aerial view of a dense city center, illustrating the US cities ZIP code directory

Minnesota · Census place 54268

Richmond, MN population, income and ZIP codes

Quick answer

The population of the city of Richmond, Minnesota (Richmond, MN — Census place “Richmond city”) is 1,336 residents, ranking #311 of 914 places in Minnesota. Median household income is $67,381, the median home is worth $225,500 and median gross rent runs $584 a month. Looking for the Richmond Minnesota ZIP code list? 1 ZIP codes serve Richmond, MN: 56368.

Population: 1,336Richmond city residents
Median household income: $67,381Past 12 months, inflation adjusted
Median home value: $225,500Owner-occupied units
Median gross rent: $584Rent plus utilities, monthly
Median age: 39.7 yrsAll residents
Homeownership rate: 87.8%Owner-occupied households

Richmond ZIP codes (Minnesota)

Census ZCTAs whose delivery area overlaps Richmond.

The Richmond MN ZIP code list below covers 1 ZIP code. Open any one for its population, income, housing and rent profile.

56368

What the numbers mean in Richmond city

Housing cost measured against local earnings.

A household earning the Richmond city median would spend about 10.4% of gross income on the median rent. The 30% mark is the federal threshold for cost burden, so anything above it signals a stretched rental market. The median home costs 3.3× the median household income; nationally that ratio sits near 4.5×. Poverty affects 10.2% of residents and 87.8% of households own their home.

Source: US Census Bureau, ACS 2019-2023 5-year estimates · rates as published for 2019-2023 ACS 5-year

Richmond city, MN in context

How this area compares with national benchmarks.

Richmond city is a small town in Minnesota, with 1,336 residents counted in the Census American Community Survey 2019-2023 ACS 5-year estimates, which places it #311 of 914 ranked by population — larger than 66% of them. The median age here is 39.7 years against 39.1 nationally, a slightly older profile than the country as a whole. At this population the ACS sample is small, so the margin of error around every dollar figure below is wide — treat the numbers as a band, not a point, and expect them to move between annual releases without the place itself changing.

Households in Richmond city earn a median of $67,381 a year, 14.2% below the national figure of $78,538 and 11% below the $75,469 median for the 361 Minnesota cities we cover. Median household income counts every pre-tax dollar arriving at an address — wages, self-employment, Social Security, pensions, interest and public assistance — for everyone living there, so multi-earner households pull the figure up even where individual pay is modest. Poverty reaches 10.2% of residents here, below the 12.4% national rate.

The typical owner-occupied home in Richmond city is valued at $225,500, 25.7% below the national figure and 6% below the $240,400 peer median, while median gross rent runs $584 a month, 58.5% below the national figure, or roughly $7,008 across a full year. A household on the local median income would put about 10.4% of gross pay toward that rent against the federal 30% cost-burden threshold, so renting here is cheap relative to what people here earn. The home-price-to-income ratio works out to 3.3×, against roughly 3.9× nationally, so buying is easier here than in the average US market. 87.8% of occupied homes are owner-occupied versus 65% nationally, an owner-dominated market where rental listings are scarce and rent medians rest on a thin sample. Gross rent folds in the utilities a tenant pays separately, so it is closer to the real monthly outlay than a headline rent figure.

Every value on this page is published directly by the Census for this area — nothing is modelled or interpolated. Small-area estimates still carry wider margins of error than state or national figures, so check the linked ACS tables before relying on them for lending, appraisal or legal work.

Compare with nearby places

Places of similar size in Minnesota.

More Minnesota coverage.

Frequently asked questions

Common questions about this area.

What is the population of Richmond city?: Richmond city has 1,336 residents on Census ACS 2019-2023 ACS 5-year estimates, ranking #311 of 914 in Minnesota.
What is the median household income in Richmond city?: Median household income in Richmond city is $67,381 a year, 14.2% below the national figure of $78,538.
How much does it cost to rent or buy in Richmond city?: Median gross rent is $584 a month and the median home value is $225,500, so rent absorbs about 10.4% of median household income.
Is Richmond city affordable compared with the rest of the US?: Homes cost about 3.3× the local median income here versus roughly 3.9× nationally, so Richmond city is more affordable to buy in than the typical US market, and rent takes 10.4% of median income against the 30% cost-burden line.
How current is this Richmond city data?: All figures come from the US Census Bureau American Community Survey 2019-2023 ACS 5-year five-year estimates. At this population the ACS sample is small, so the margin of error around every dollar figure below is wide — treat the numbers as a band, not a point, and expect them to move between annual releases without the place itself changing.