Richmond, KY home prices
Typical home $262,983 · +1.1% in a year · income needed $73,200
The Richmond, KY metro area ranks 413 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +1.1% in a year and +29.5% over five years. With 20% down at 7.11%, the typical home costs about $1,707 a month including 0.73% property tax (Madison County rate).
Mortgage on the typical Richmond home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $52,597 | $210,387 | $1,415 | $0 | $292 | $1,707 | $73,200 |
| 10% down | $26,298 | $236,685 | $1,592 | $99 | $292 | $1,983 | $85,000 |
| 5% down | $13,149 | $249,834 | $1,681 | $104 | $292 | $2,077 | $89,000 |
| 3.5% down (FHA) | $9,204 | $258,220 | $1,737 | $116 | $292 | $2,145 | $91,900 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.73% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Richmond area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Madison County, KY | $283,215 | +1.2% | 0.73% |
| Estill County, KY | $111,861 | -8.9% | 0.67% |
What can you afford in Kentucky on your salary? · Kentucky home prices · Salaries in Kentucky
Frequently asked questions
How much is a house in Richmond?
The typical home in the Richmond, KY metro area is worth $262,983 (Zillow, September 2026).
What salary do you need to buy a house in Richmond?
About $73,200 a year for the typical home with 20% down at 7.11%.