All homes and bedroom counts
RENTAL MARKET INTELLIGENCE
Richmond, KY
Richmond merits investigation by income-focused buyers who accept moderate yield and can underwrite flood exposure property by property.
Median price$267k
Median rent$1,153
Gross yield5.2%
Job growth▲ 1.1%
Composite Market ScoreRank #157 of 571 scored US market areas
Direct rental answer
How much is rent in Richmond, KY?
Zillow's metro-wide Observed Rent Index is $1,153 per month for 2026-06-30. That is up 3.31% from a year earlier.
Occupied rental units paying rent
Two-bedroom standard
These figures are not averaged together. Zillow and Realtor describe asking-rent markets, ACS measures rent paid by surveyed households, and HUD publishes administrative bedroom standards.
Exact county schedules
HUD rent benchmarks inside Richmond
Every row keeps its own county FIPS schedule. No county is selected as a metro proxy and no synthetic metro FMR is calculated.
| County | Studio | 1 BR | 2 BR | 3 BR | 4 BR |
|---|---|---|---|---|---|
| Madison County, KYFIPS 21151 | $666 | $785 | $904 | $1,257 | $1,416 |
| Rockcastle County, KYFIPS 21203 | $619 | $741 | $866 | $1,126 | $1,209 |
| Estill County, KYFIPS 21065 | $619 | $790 | $866 | $1,120 | $1,259 |
The read
Why this market scores where it does
Richmond merits investigation by income-focused buyers who accept moderate yield and can underwrite flood exposure property by property. Buyers seeking strong near-term resale liquidity or limited new competition should be cautious. The median home value is $267,445, median asking rent is $1,153, and gross yield is 5.17%.
Demand signals are constructive but not uniformly strong. Jobs increased 1.09%, asking rents rose 3.31%, and tax filings show net migration of 732 households. Incoming movers also had average income $1,256 above outgoing movers, supporting tenant depth without proving that every neighborhood or unit type will perform similarly.
The main tension is demand versus execution risk. Inventory stands at 3.5 months, yet 29.16% of listings had price drops and median market time was 61 days, giving selective buyers room to negotiate. However, permitting is elevated relative to its longer-run benchmark, while inland flood is the dominant hazard. Favor assets with defensible rents, limited competing supply, and verified insurance and flood costs.
Frequently Asked Investor Questions
Do migration figures indicate that the household base is expanding?
Tax filings show 3,414 households moved in and 2,682 moved out, producing net migration of 732 households. Fayette County was the largest listed origin with 681 households, followed by Clark County with 138 and Laurel County with 115.
How much negotiating leverage does the for-sale market show?
The record reports 3.5 months of supply, a 61-day median time on market, and price drops on 29.16% of listings. Those measures support selective negotiation, but seller concessions and property-level discounts are not published.
How active are investors in local purchases?
Non-occupants represented 9.47% of purchase mortgages, while total purchases were 1,457. The record does not publish investor activity by neighborhood, property type, purchase price, or financing structure.
Investor Quick Takeaways
Gross Yield: 5.2%
Computed from the current Zillow rent and home-value medians.
Rent Momentum: ▲ 3.31%
Zillow ZORI rent growth trend over trailing 12 months.
Investor Activity: 9.5%
Originated investment purchase share (CFPB HMDA).
Climate Exposure: FEMA NRI
Annualized loss ratio evaluated for flood & hurricane risk.
Put the evidence to work
Test the market, then test the deal
Keep Richmond as the starting point or move into a more specific property and rent check.
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Market pulse
The current market in eight signals
Fast-moving Redfin conditions sit beside the slower fundamentals so a buyer can separate today's negotiating climate from the long-run investment case.
Months of supply3.5 mo.▲ from 3.1 mo. a year ago
Median days on market61 days▲ from 53 days a year ago
Listings with price drops29.2%▲ from 28.5% a year ago
Sale-to-list ratio98.3%2026-05-01
Home value growth▲ 1.0%Zillow ZHVI · trailing 12 months
Rent growth▲ 3.31%Zillow ZORI · trailing 12 months
Gross rental yield5.2%Rent × 12 ÷ price
Payroll job growth▲ 1.1%LAUS · 12m to 2026-05
Release-to-release evidence
What actually changed
This comparison exists because at least one underlying source period advanced. Rebuilding the same data never creates a new observation.
Published score held steady59→59
0 ptsThe published component scores did not move in this release.
Weights were unchanged at metro-2026-07-v2-omb2023, so the movement comes from refreshed evidence and percentile ranks.
The named source periods advanced, but the measured values on this page held steady.
The one chart
Rents versus prices, indexed to 2019
Both series start at 100. The gap between the lines is the investment case, and which line is closing it tells you what kind of market this is.
Reindexed Price vs. Rent Growth
2019 = 100 · annual · 2019–2026
Since 2019, prices are up 62% and rents 47%. Prices running ahead of rents is what compresses yield. ✓ recomputed from series
Composite breakdown
What each component measures
Weights are published, not hidden, and the arithmetic is shown. Five components, each measured as a national percentile across all tracked metros.
Published arithmeticComponent × weight = points
59| Signal | Score | Weight | Points |
|---|---|---|---|
| Job growth | 83 | 30% | 24.90 |
| Rent trend | 50 | 25% | 12.50 |
| Affordability | 62 | 15% | 9.30 |
| Supply pressure | 35 | 15% | 5.25 |
| Climate risk | 46 | 15% | 6.90 |
| Published score | 59 | ||
Richmond, KY scoreRank #157
59Job growth83/100
LAUS job growth of 1.09% -> employment demand is expanding, but the record does not identify which industries, occupations, or tenant segments account for the gain.
Rent trend50/100
Asking-rent growth of 3.31% and a $1,153 median rent -> revenue conditions are improving, although the 5.17% gross yield leaves operating costs, financing, and vacancy to determine actual returns.
Affordability62/100
Rent equal to 22.92% of median household income and a 4.43 price-to-income ratio -> typical rents appear more accessible than purchase prices, but neighborhood-level affordability is not published.
Supply pressure35/100
540 permits, equal to 4.29 per 1,000 residents and 11.9% above the five-year benchmark -> additional housing competition is a material underwriting concern even with only 3.5 months of current supply.
Climate risk46/100
A 0.1488% annual climate loss ratio with inland flood as the dominant hazard -> buyers should verify parcel exposure, mitigation, coverage terms, and premiums because property-specific costs are not published.
The numbers
What this market costs and what it earns
Every derived ratio below recomputes from the same source record used by the article and score.
ZHVI Median Price
$267k
YoY ▲ 1.0%
ZORI Median Rent
$1,153
YoY ▲ 3.31%
Gross Rental Yield
5.2%
Rent × 12 ÷ price
$1,153 × 12 ÷ $267,445
Job Growth (YoY)
▲ 1.1%
LAUS payrolls
Job signal 83/100
Median Household Income
$60k
Census ACS 5-year
Rent Burden
22.9%
Annual rent ÷ household income
Price-to-Income
4.4x
Median value ÷ household income
HUD 2BR Fair Market Rent
$866
Market rent 133.1% of FMR
Historical affordability context
Compare aligned 2019 and 2024 asking-rent and nominal household-income endpoints across the direct-overlap metro set.
Independent rent evidence
One market, several legitimate rent benchmarks
These releases observe different homes and different moments. RentMarker keeps them separate: ZORI remains the scoring baseline, while the other sources test how sensitive the market story is to bedroom mix and measurement method.
Monthly benchmark4 of 4 reported values
Zero-based scale$1,153Primary RentMarker baseline
2026-06-30
All homes and bedroom counts
A smoothed metro rent index for observed rentals; it is the primary rent used by RentMarker scores and career ratios.
View source release ↗$785−$368 vs ZORI
FY2026 FMR
One-bedroom standard
An administrative gross-rent benchmark used by HUD programs; it is neither a listing median nor a prediction of one lease.
View source release ↗$866−$287 vs ZORI
FY2026 FMR
Two-bedroom standard
An administrative gross-rent benchmark used by HUD programs; it is neither a listing median nor a prediction of one lease.
View source release ↗$855−$298 vs ZORI
ACS 2024 5-year
Occupied rental units paying rent
A five-year survey estimate of contract rent plus applicable tenant-paid utilities; it is not a current asking-rent index.
View source release ↗Take the next step
Keep Richmond as context, then replace market-wide evidence with the candidate property's facts.
Supply pipeline
What is being built, and for whom
Permits are the 12-to-24 month early warning. The total matters less than the mix: apartments compete with a rental the day they open.
National supply context
Compare this authorization pipeline with asking-rent growth, jobs and for-sale liquidity across the evidence-complete metro set.
Building permits by structure type
units per year · latest year annualised
532 units authorised in 2026, 12% of them in 5+ unit buildings. This is a single-family building cycle, so the competition is other houses, not new apartments. ✓ recomputed from series
Who is arriving, and who is buying
Demand, and the competition for it
Tax filings say how many households moved and what they earn; mortgage disclosures say how many local purchases went to someone who will not live there. Moves between counties inside this metro are netted out of both flow figures.
Net Household Move
+732
3,414 in vs 2,682 out (IRS SOI)
▲ 21.4% of arriving households
Mover Income Gap
+$1,256
Arriving $50,862 vs leaving $49,606
Average AGI per tax return (IRS SOI)
Investor Purchase Share
9.5%
138 of 1,457 originated purchase loans
CFPB HMDA 2024
Dominant Hazard
inland flooding
0.149% building value annual loss ratio
FEMA NRI · risk type: water
Compare yield and FEMA exposure →Households arrive mainly from: Fayette County · Clark County · Laurel County · Pulaski County · Garrard County
✓ 3,414 in − 2,682 out = 732 netDirect market links
Where tax-return households moved from and to
These are the largest flows where both counties map to a RentMarker market area. They are a documented subset of the all-US IRS totals above.
Leading inbound markets
- Lexington, KY933 arriving
- Somerset, KY84 arriving
- Louisville, KY72 arriving
Leading outbound markets
- Lexington, KY678 leaving
- Somerset, KY80 leaving
- Louisville, KY79 leaving
The other side
What would make this a bad buy
Generated from the same figures with the instruction to argue against the score, and published unedited. A page that only agrees with itself is an advertisement.
Three ways the case breaks
- New construction could dilute occupancy or rent leverage: the market recorded 540 permits, and permitting was 11.9% above its five-year benchmark.
- Resale execution may disappoint because homes took a median 61 days to sell and 29.16% of listings recorded price drops.
- Inland flood exposure could raise ownership costs or impair particular properties; the record provides a 0.1488% climate loss ratio but no parcel-level damage, premium, or coverage data.
Inside this micro area
Move from the market-area average to local evidence
Use the available county and city pages to add local price, rent, housing, migration and hazard context to the market-area view.
Statistical peers
Market areas that behave like Richmond
Nearest neighbours on price level, income, yield and job growth — not on geography. Every market page gets a different peer set, which is the point.
| Market area | Score | Price | Rent | Yield | Job Growth |
|---|---|---|---|---|---|
| Richmond, KY (Target) | 59 | $267k | $1,153 | 5.2% | ▲ 1.1% |
| Williamsport, PA | 78 | $242k | $1,077 | 5.3% | ▲ 0.8% |
| Farmington, NM | 72 | $278k | $1,286 | 5.5% | ▲ 1.5% |
| St. Joseph, MO | 67 | $218k | $1,047 | 5.8% | ▲ 1.0% |
| Muskegon, MI | 85 | $259k | $1,212 | 5.6% | ▲ 1.0% |
Provenance
Where every figure came from
“Checked nightly” means every source is re-pulled and re-verified each night. It does not mean every source moves nightly — the release column tells you how fresh each number can possibly be.
| Dataset Source | Method | Release Period | Pulled Date |
|---|---|---|---|
| Census ACS 5-year — household income and gross rent | direct | ACS 2024 5-year | 2026-08-05 |
| Census ACS 5-year — historical household income | direct | ACS 2019 and 2024 5-year | 2026-08-05 |
| Census ACS 5-year — population | direct | ACS 2024 5-year | 2026-07-26 |
| Apartment List Rent Estimates — recent-lease rent index | direct | Apartment List 2026-07 | 2026-08-08 |
| Apartment List Time on Market — listing liquidity | direct | Apartment List 2026-07 | 2026-08-08 |
| Apartment List Vacancy Index — rental vacancy | direct | Apartment List 2026-07 | 2026-08-08 |
| BEA County Personal Income — income and population | direct | 2024 County Personal Income (released 2026-02-05); history 1969-2024 | 2026-08-03 |
| BEA Regional Price Parities — metropolitan price levels | direct | 2024 Regional Price Parities (released 2026-02-19); history 2008-2024 | 2026-08-03 |
| BLS CES — payroll employment | direct | CES SM current | 2026-07-26 |
| BLS LAUS — resident employment | direct | LAUS current | 2026-07-26 |
| BLS OEWS — occupation employment and wages | direct | May 2025 OEWS estimates (released 2026-05-15) | 2026-08-03 |
| BLS QCEW — county employment and wages | direct | annual county employment and wages 2021-2025; latest 2025 vs 2024 | 2026-08-02 |
| OMB/BLS delineation — metro geography | direct | OMB July 2023 delineation | 2026-07-30 |
| Census Building Permits Survey — permitted units | direct | BPS through 2026 | 2026-07-26 |
| Census ACS 5-year — city population, households and housing | direct | ACS 2024 5-year | 2026-07-29 |
| Census ACS 5-year — county housing value, tenure and stock | direct | ACS 2024 5-year | 2026-07-30 |
| Census ACS 5-year — cities and communities | direct | ACS 2024 5-year | 2026-07-30 |
| Census ACS five-year — ZCTA housing and income | direct | ACS 2024 5-year ZCTA | 2026-08-08 |
| FEMA National Risk Index — hazard loss ratios | modelled | NRI counties (FEMA ArcGIS) | 2026-07-26 |
| FHFA House Price Index — annual county appreciation | direct | annual county HPI history 1975-2025; latest 2025 | 2026-08-02 |
| HMDA / CFPB — purchases by occupancy type | direct | HMDA 2024 purchase originations | 2026-07-26 |
| HUD CHAS — renter burden by HAMFI income band | direct | HUD CHAS 2018-2022 ACS 5-year (released 2025-12-23) | 2026-08-03 |
| HUD Fair Market Rents — Section 8 standard | direct | FY2026 FMR | 2026-07-26 |
| HUD USPS crosswalk and Small Area FMRs — ZIP rent fallback | direct | ZIP-CBSA 2025Q4 + SAFMR FY2026 | 2026-07-26 |
| HUD-USPS ZIP-to-county residential-address crosswalk | direct | HUD-USPS 2026Q1 | 2026-08-09 |
| IRS SOI — county migration and mover income | direct | SOI migration 2022-2023 | 2026-07-26 |
| Freddie Mac PMMS — mortgage rates | direct | week of 2026-07-30 | 2026-08-06 |
| Census ACS 5-year — effective property tax | direct | ACS 2024 5-year | 2026-08-06 |
| Realtor.com Economic Research — county listing inventory | direct | county inventory 2026-06 | 2026-07-28 |
| Realtor.com Rental Report — top-50 asking rents | direct | top-50 rental asking rents 2026-05 | 2026-08-05 |
| Redfin Data Center — inventory, days on market, and price cuts | direct | metro tracker through 2026-05-01 | 2026-07-26 |
| Redfin Data Center — ZIP resale activity and supply | direct | ZIP rolling 3 months through 2026-06-30; updated 2026-07-03 | 2026-08-12 |
| USDA ERS — Rural-Urban Continuum Codes | direct | USDA ERS 2023 Rural-Urban Continuum Codes | 2026-08-02 |
| Zillow ZHVI and ZORI — county values and rents | direct | county ZHVI/ZORI 2026-06 | 2026-07-26 |
| Zillow ZHVI — metro home values | direct | Metro_zhvi_uc_sfrcondo_tier_0.33_0.67_sm_sa_month.csv | 2026-07-26 |
| Zillow ZHVI — city home values | direct | zillow_zhvi_city.csv | 2026-07-29 |
| Zillow ZORI — metro market rents | direct | Metro_zori_uc_sfrcondomfr_sm_sa_month.csv | 2026-07-26 |
| Zillow ZORI — city market rents | direct | zillow_zori_city.csv | 2026-07-29 |
| Zillow ZORI - metro market rents, not seasonally adjusted | direct | Metro_zori_uc_sfrcondomfr_sm_month.csv | 2026-08-15 |
| Zillow ZORI — ZIP market rents | direct | ZORI ZIP 2026-06 | 2026-08-08 |