Richmond, TX

This city of 13,586 residents needs 1,659 more housing units over the next five years. Richmond is part of the Houston-Galveston Area Council.

Housing snapshot

Population
13,586 (2026)
Households
4,886
Median household income
$60,736 (2026)
Typical home value
$337,495
Owner-occupied
50%
Five-year housing need
1,659 units

Comparison to other Texas municipalities

Richmond: $60,736 Median income (2026 estimate)
<$23K >$162K
Richmond: 0.72 jobs to household ratio
<0 >2.52
Richmond: Permits since 2021 represent 11.1% of housing
<0% >28%
On this page

How affordable is this community?

The typical home in Richmond, TX is valued at $337,495, well above the Texas average of $245,578. At a median household income of $60,736 in Richmond, TX, affordability is stretched, with households needing roughly $33,457 more to comfortably afford the typical home.

This chart tracks whether housing prices are keeping pace with local incomes. The gap between what homes cost and what households can afford reveals affordability trends over time.

How is the population changing?

Richmond, TX has a population of roughly 12,582, growing modestly at 0.7% per year.

Population growth patterns reveal how communities are evolving. This chart shows historical population changes by age group and projects future trends based on demographic patterns.

How has employment changed over time?

Jobs by industry sector since 2012. Switch between local jobs — counted where the jobs are located — and resident jobs, counted where the workers live. On the local view the most recent year is a nowcast: it grows the latest local LODES job mix forward using recent county employment growth from QCEW and the BLS local employment series, so the newest point tracks today's economy instead of data that is roughly two years old.

How are households changing by income?

With roughly 4,886 households, Richmond, TX is growing modestly at 0.7% per year.

Understanding how households at different income levels are growing or declining helps identify which groups face the greatest housing pressure and where new housing is most needed.

Who lives here today?

The housing stock in Richmond, TX is relatively mixed, with detached single-family as the most common type at 47%. Richmond, TX is roughly split between owners and renters, at 50% owner-occupied.

Households may have different structure type preferences depending on characteristics such as household size, income, employment, presence of children, age of individuals, and lifestyle choices. Understanding the housing stock in corresponding terms helps assess how well existing units align with existing households' ideals.

What does the housing stock look like?

The mix of housing types and ownership patterns shapes a community's character. This chart breaks down housing units by structure type and whether they're owner-occupied or rented.

How much new housing supply is needed?

To keep up with growth and fill current housing shortages, Richmond, TX needs 1,659 new units over the next 5 years.

1,366
Units needed to keep up with expected growth
Projected total household growth from 2026 to 2031.
28.0%
Projected household growth rate
Expected increase in total households from 4,886 in 2026 to 6,252 in 2031.
293
Units to address shortages in existing housing stock
Production needs to address vacancy rates and other factors.
51
Replacement housing
Effective annual loss rate is 2.0 per 1,000 units.
16
Ownership vacancy adjustment
Owner-occupied vacancy is 0.9%. This is below the minimum stable target of 1.5%.
54
Rental vacancy adjustment
Rental vacancy is 5.3%. This is below the minimum stable target of 7.4%.
172
Overcrowding adjustment
Overcrowding rate is 7.0%. This is above National avg. of 3.4%.
1,659
Total 5-year housing production need (2026-2031)
332
Annual production pace
Average units needed per year to meet 5-year need
32.8%
Total housing unit growth
Percent increase in housing stock over 5 years
6.6%
Annual housing unit growth
Average percent increase in housing stock per year

How does this place compare to similar communities?