Richmond
Solid value in a growing area
3 homes for sale·Median $262K·Schools 6.0/10
Roads wind through land where trees still outnumber houses, and properties measure in acres rather than lots. An unnamed park sits right at the edge, and Lake Michigan lies just beyond—close enough that the water shapes the air and the rhythm of seasons. Within a mile, a dozen restaurants and a coffee shop a few minutes' walk away mean you're not far from decent food, yet the feeling here is still rural, still spacious. Homes tend toward four bedrooms on one to three acres, with detached garages, full basements, and the kind of yards where you can actually move around.
Why people love it here
$77K median household income
- $262K median · 6 sales in last 12mo
Mortgage Calculator
Median home price in Richmond
Estimated Monthly Payment
$1,782/mo
The interest rate shown is not an annual percentage rate (APR). Rate displayed is the current average 30-year fixed rate from the Freddie Mac Primary Mortgage Market Survey and is subject to change without notice. This is not a commitment to lend or an offer of credit. Your actual rate, payment, and costs may vary. Contact a loan officer for a personalized quote.
Guild Mortgage NMLS #3274. Equal Housing Lender. NMLS Consumer Access
6 homes sold in Richmond this year. Thinking of selling?
See what your home is worthBased on 3 rated schools nearby
Range: 5/10 to 7/10
School District: Reed City Area Public Schools
Most of Richmond is policed by the Osceola County Sheriff's Office. Across that jurisdiction in 2024, the most common reported offenses were larceny / theft (365 per 100,000 residents) and burglary (170 per 100,000 residents), per FBI Uniform Crime Reporting.
No homicides were reported in 2024.
| Offense type | Per 100k residents |
|---|---|
| Larceny / theft | 365 |
| Burglary | 170 |
| Aggravated assault | 123 |
| Rape | 77 |
| Motor-vehicle theft | 77 |
| Arson | 10 |
| Homicide | 0 |
| Robbery | 0 |
Reported offenses per 100,000 residents, Osceola County Sheriff's Office, FBI Uniform Crime Reporting (2024). Figures cover the Osceola County Sheriff's Office's full jurisdiction (the county's unincorporated areas), not Richmond alone. Crime is reported at the jurisdiction level and varies block to block within any community.
To buy a median-priced Richmond home (around $262,450) at today's 6.43% 30-year fixed rate with 20% down, you'd need roughly $41k/year in household income to qualify — an estimated monthly payment of $1,530 (principal, interest, property tax, and insurance).
The typical Richmond household earns $77,008 — above what the median home requires. At that income, a buyer can afford roughly $515,000 with 20% down.
| Down payment | Monthly payment | Income needed |
|---|---|---|
| 20% | $1,530/mo | $40,790 |
| 10% (+PMI) | $1,793/mo | $47,806 |
| 5% (+PMI) | $1,881/mo | $50,148 |
Estimates use a 6.43% 30-year fixed rate (current Freddie Mac average), an aggressive ~45% housing-to-income ratio (roughly what FHA underwriting can allow for a buyer with no other monthly debts — your number depends on your debts and credit), this area's median sale price and median property taxes, plus estimated insurance and PMI below 20% down. Not an APR or a commitment to lend — your actual rate and payment will vary.
Land for sale
Listings
3 parcels
Active / pending
Typical Land Value
$8K/acre
Median asking
Median Price
$100K
Per listing
Who actually lends in Richmond, and how homes here are financed — from 2024 federal mortgage records.
Loans to buy a home
Most active lenders
Homeowners refinancing an existing mortgage
Most active lenders
Source: 2024 HMDA (CFPB/FFIEC). Neighborhood figures are area-weighted estimates from census-tract data; loan amounts are rounded and all-cash purchases are excluded.
Association and local-government details are compiled from public records, municipal sites, and state registries, and can change. Confirm directly with the association or municipality before relying on them.
Private well
Rural township adjacent to Reed City
Septic - individual
Individual septic systems
Private hauler (resident-arranged)
Resident-arranged hauler
Consumers Energy / propane
Natural gas where available; otherwise propane
Confirm by addressReed City Area Fire Department
Reed City-area fire coverage
Source: cms4files.revize.com
Utility, solar, and service details for Richmond are compiled from public records, municipal sites, and NREL / U.S. data.gov, and can change. Electric/gas can vary by address — confirm with the provider before relying on them.
Median Income
$77K
Home Value (Census)
$154K
Flood Risk
None
Not in flood zone
Nearest Park
Westerburg Park
1.4 mi
Parks Nearby
0
within 1 mile
🍕 Restaurants(8)
Restaurant
Restaurant
Restaurant
H&D Chuckwagon
Restaurant
+3 more within 5 miles
☕ Coffee(1)
The Bridge Coffee Shop
Café
🍺 Bars(1)
🚴 Trails(3)
⚡ EV Charging(1)
Unnamed ev_charging
EV Charging
Frequently asked about Richmond
- What do homes cost in Richmond?
- The median home value in Richmond is about $262,450. Individual prices vary by street, size, and condition.
- How active is the Richmond housing market?
- there are 3 homes for sale in Richmond right now, and 6 homes sold here in the last 12 months. Listings refresh throughout the day from the MichRIC MLS.
- What schools serve Richmond?
- Richmond is served by Reed City Area Public Schools. Its highest-rated assigned school is GT Norman Elementary School (7/10).
Top contributors in Richmond
Detailed statistics are being computed for this location. Demographics, home values, schools, flood risk, and more will appear here automatically.