Everything You Should Know Before Moving to Richmond, KY
Looking for a welcoming college town with an affordable lifestyle? Richmond, KY, with a population of 36,951, features a cost of living well below the national average, median home prices around $196,000, and rents near $925. Residents enjoy a short 22-minute commute, plenty of sunny days, and access to Eastern Kentucky University. Crime rates are relatively low, and families appreciate the solid local schools and easy access to healthcare. Richmond is a friendly, budget-friendly city perfect for students, young professionals, and families alike.
Demographics - Richmond, KY
Demographics - Richmond, KY
Richmond, KY has a youthful population of around 37,000 residents, with a median age of 27.1, reflecting its vibrant college-town atmosphere. The city is predominantly White, but also home to Black, Asian, and other minority communities, and about 7% of residents speak a language other than English at home.
Population:
36,951
Density:
1,550 per sq mi
Median Age:
27.1
Gender Ratio:
93 males per 100 females
Non-English Speakers Percentage:
6.8%
Ethnic Composition
White:
86.1%
Black:
6.3%
Asian:
2.3%
Others:
5.3%
Cost Of Living
What is the average cost of living in Richmond, KY?
Richmond offers an affordable cost of living, with a median home value of $196,000 and average rents near $925, both significantly below national averages. Essentials like groceries, healthcare, and utilities are also budget-friendly, making Richmond a practical choice for families and students.
Median House Value:
$196,000
Gross Rent:
$925
Monthly Electricity Charges:
$115
Auto Insurance:
$1,410
House Owner Cost With Mortgage:
$1,180
House Owner Cost Without Mortgage:
$430
State Taxes:
Low:
5%
|
High:
5%
Cost Of Living Index:
86.7
Grocery:
92.8
Housing:
68.5
Utilities:
97.4
Transportation:
92.5
Health Care:
85.0
Miscellaneous:
90.1
Crime
Is Richmond, KY a safe place to live?
Crime rates in Richmond are relatively low, with a 1 in 740 chance of being a victim of violent crime, which is reassuring for new residents. Property crime occurs more frequently, but overall, the city maintains a safe environment compared to many similarly sized communities.
Violent Crimes Per 100k:
135
Property Crimes Per 100k:
2,075
Crime Index:
2,210
Chance Of Violent Crime:
1 in 740
Chance Of Property Crime:
1 in 48
Weather
What is the weather like in Richmond, KY year-round?
Richmond experiences four distinct seasons with mild winters averaging lows of 25°F and warm summers reaching highs near 87°F. The city enjoys about 59% sunny days and receives around 46 inches of annual rainfall, offering a pleasant climate for outdoor activities.
Winter
Min:
25°F
Max:
43°F
Spring
Min:
45°F
Max:
70°F
Summer
Min:
65°F
Max:
87°F
Fall
Min:
46°F
Max:
71°F
Average Rainfall Inches:
46.3 inches
Sunny Days Percentage:
59%
Neighbors
Residents of Richmond have a median household income of $48,600 and an average commute time of just over 22 minutes. While the poverty rate is somewhat higher at 23.5%, the community remains engaged and well-educated, with nearly 89% holding at least a high school diploma.
Median Income:
$38,400
Household Income:
$48,600
Family Income:
$71,200
Per Capita Income:
$25,900
Income Male:
$39,300
Income Female:
$32,000
Poverty Rate:
23.5%
Non English Speakers:
6.8%
Rent:
$925
Unemployment Rate:
3.8%
Public Transport Usage:
0.4%
Commute Time:
22.1 minutes
Education
High School or Higher:
88.9%
Bachelors or More:
26.8%
Education
How are the schools in Richmond, KY?
Education is a highlight in Richmond, with a range of public and private schools and access to higher education at Eastern Kentucky University, which enrolls over 14,000 students. Families benefit from schools with reasonable student-teacher ratios and proximity to additional colleges nearby.
Public Schools
Name:
Model Laboratory School
Street:
521 Lancaster Ave
Phone:
859-622-3766
Students:
725
Student Teacher Ratio:
17.1
Name:
Madison Central High School
Street:
705 N 2nd St
Phone:
859-624-4506
Students:
2,300
Student Teacher Ratio:
17.4
Private Schools
Name:
St. Mark Catholic School
Street:
115 Parrish Ave
Phone:
859-623-2989
Students:
150
Colleges
Name:
Eastern Kentucky University
City:
Richmond
State:
KY
Distance:
0 miles
Students:
14,000
Name:
Berea College
City:
Berea
State:
KY
Distance:
15 miles
Students:
1,650
Healthcare
Richmond provides strong healthcare access, anchored by Baptist Health Richmond and a high rate of health insurance coverage (92.7%). With about 2 physicians per 1,000 residents, quality medical care is readily available for individuals and families.
Major Hospitals
Name:
Baptist Health Richmond
Address:
801 Eastern Bypass, Richmond, KY 40475
Phone:
(859) 623-3131
Type:
General & Surgical
Emergency Services:
Yes
Physicians Per 1000:
2.0
Health Insurance Coverage:
92.7%
Health Care Index:
69.2
Housing Market
What is the housing market like in Richmond, KY?
The housing market in Richmond remains accessible, with a median home price of $196,000 and average rent for a two-bedroom apartment at $925. Home appreciation has been steady at 6.2% over the past year, making it an appealing area for both buyers and renters.
Median Home Price:
$196,000
Average Rent For 2 Bedroom:
$925
Owner Occupied Rate:
45.9%
Rental Vacancy Rate:
5.8%
Home Appreciation Rate (1yr):
6.2%
New Construction Rate:
1.1%
Foreclosure Rate:
0.3%
DMV Information
Residents handle licensing and vehicle registration through the Kentucky Transportation Cabinet in Frankfort, with resources available online and by phone. Procedures are straightforward, benefiting from Kentucky's centralized DMV system.
State:
Kentucky
Department:
Kentucky Transportation Cabinet - Division of Driver Licensing
Address:
200 Mero Street, Frankfort, KY 40622
Phone:
1-502-564-1257
Website:
Disclaimer: The information provided on this page is based on publicly available sources including AccuWeather, U.S. Census Bureau, local government data, and third-party partners such as Neustar. While we strive to ensure accuracy, all data is provided “as is” and should be independently verified before making any decisions. Movers.com makes no guarantees regarding the completeness or reliability of the information.