Bill Hill
Richmond Real Estate
Bill Hill offers direct guidance for the Richmond, Minnesota real estate market. He provides honest insights into local property values without the pressure of a typical sales pitch.
Richmond features a distinct housing landscape where homes built around the median year of 1976 are common. The local inventory is heavily characterized by standalone properties, with 92% of homes being single-family detached units according to the U.S. Census Bureau (2020–2024 ACS). This makes Richmond a primary destination for those seeking space and independence in Stearns County.
Buyers often find the market stable, as the Federal Housing Finance Agency House Price Index shows a home price change of +2.2% over one year in Stearns County (2024 to 2025). Bill Hill assists clients with everything from waterfront listings to new construction, focusing on clear logistics rather than persuasion. He believes houses sell themselves, and his role is to manage the complexities of the transaction once the right property is found.
For residents currently renting, the median monthly rent in Richmond is $648 (U.S. Census Bureau, 2020–2024 ACS). Transitioning to ownership is a common path here, with 86% of homes being owner-occupied per the same Census data. Bill Hill provides the necessary framework for first-time buyers and those looking to downsize to navigate these local trends efficiently.
By the numbers
Richmond, MN at a glance
| Population2020–2024 ACS 5-year estimates | 1,431 |
|---|---|
| Housing units2020–2024 ACS 5-year estimates | 602 |
| Median home value (owner-occupied)2020–2024 ACS 5-year estimates | $241,300 |
| Median monthly rent2020–2024 ACS 5-year estimates | $648 |
| Median annual property tax paid2020–2024 ACS 5-year estimates | $2,561 |
| Homes that are owner-occupied2020–2024 ACS 5-year estimates | 86% |
| Homes that are single-family detached2020–2024 ACS 5-year estimates | 92% |
| Median year homes were built2020–2024 ACS 5-year estimates | 1976 |
| Commutes under 30 minutes2020–2024 ACS 5-year estimates | 72% |
| Home price change, 1 year (Stearns County)2024 to 2025 | +2.2% |
| Home price change, 5 years (Stearns County)2020 to 2025 | +43.3% |
| Average 30-year fixed mortgage rate (U.S.)week of 2026-09-24 | 7.03% |
| Average 30-year fixed mortgage rate a year earlier (U.S.)week of 2025-09-18 | 6.26% |
Sources: U.S. Census Bureau, American Community Survey; Federal Housing Finance Agency House Price Index; Freddie Mac Primary Mortgage Market Survey. Published estimates for the area as a whole, not a valuation of any property.
FAQ
Frequently asked questions
What is the median home value in Richmond, Minnesota?↓
The median home value for owner-occupied units in Richmond is $241,300, based on U.S. Census Bureau (2020–2024 ACS) data. This figure serves as a baseline for the area, though prices vary depending on specific features and location. Bill Hill helps buyers analyze how specific properties compare to this local average.
How much are property taxes in Richmond?↓
The median annual property tax paid by homeowners in Richmond is $2,561 (U.S. Census Bureau, 2020–2024 ACS). Property taxes are an important factor in calculating monthly carrying costs. Bill Hill ensures clients have a clear view of these ongoing expenses before they commit to a purchase.
What are the current mortgage rates for a home in Richmond?↓
As of the week of 2026-09-24, the average 30-year fixed mortgage rate in the U.S. is 7.03% according to Freddie Mac. This is an increase from the 6.26% rate recorded a year earlier. Understanding these shifts is vital for determining purchasing power in the current market.
Is Richmond a good place for people who commute to nearby cities?↓
Data indicates that 72% of residents have commutes under 30 minutes (U.S. Census Bureau, 2020–2024 ACS). This suggests the city is well-positioned for those working in the surrounding Stearns County area. Bill Hill provides logistical insights into how different neighborhoods affect daily travel times.
What types of houses are available in Richmond, MN?↓
The vast majority of the housing stock consists of single-family detached homes, which account for 92% of units (U.S. Census Bureau, 2020–2024 ACS). There are also opportunities for new construction and waterfront properties. Bill Hill assists buyers in identifying which of the 602 total housing units in the city best fit their specific needs.
Related