Pros and Cons of Living In Richmond, Kentucky. Is Richmond, KY a Nice Place To Live or Retire?

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Richmond, Kentucky

Moving to Richmond In Kentucky ? Is Richmond, KY a Nice Place To Live? Pros and Cons of Living in Richmond, Kentucky. Find out the best and worst about to live, raise a family or retire in Richmond.

Richmond is a home class city in KY and the county seat of Madison County, Kentucky, United States. It is named after Richmond, Virginia, and is home to Eastern Kentucky University. With close proximity to Lexington, Richmond is considered by many to be a great place to live. It has an average - high cost of living compared to other areas. The population was 36,826 as of 2023. Richmond is the fourth-largest city in the Bluegrass region (after Louisville, Lexington and Georgetown) and the state's seventh-largest city. It is the ninth largest population center in the state with a Micropolitan population of 106,864. The city serves as the center for work and shopping for south-central Kentucky, with many local and chain options alike. Richmond KY is...

DEMOGRAPHICS

Population
35744
Unemployment
8.7%
85% NAT AVG.
Poverty
27%
93% NAT AVG.
Cost Of Living
92
8% NAT AVG.

ECONOMICS

Median Home Cost
$148900
35% NAT AVG.
Median Income
$39329
42% NAT AVG.
Median Rent
$713
39% NAT AVG.
Overall Score
5

CRIME REPORT

Total Crime
1017
18% NAT. AVG.
36% STATE AVG.
Violent Crime
67
53% NAT. AVG.
30% STATE AVG.
Property Crime
950
32% NAT. AVG.
46% STATE AVG.

SOCIO-ECONOMICS

People Living Below BPL
1 in 4
Unemployed People
1 in 11
People Earning < $10,000
1 in 9
People Earning < $50,000
59.1%
People With Any Degree
1 in 2.4

ETHNICITY

Ethnicity Richmond USA
White 86% 60.1%
African American 6% 12.2%
American Indian 0.2% 0.6%
Asian 1.7% 5.6%
Hawaiian 0.7% 0.2%
Multiracial 2.9% 2.8%
Hispanic 2.4% 18.2%
Other 0.1% 0.3%

HOUSEHOLD INCOME

HOUSEHOLD INCOME Richmond USA
Less than $10,000 11.7% 5.8%
$10,000 to $14,999 9.4% 4.1%
$15,000 to $24,999 12.1% 8.5%
$25,000 to $34,999 14.2% 8.6%
$35,000 to $49,999 11.7% 12.0%
$50,000 to $74,999 15.1% 17.2%
$75,000 to $99,999 10.7% 12.8%
$100,000 to $149,999 9.6% 15.6%
$150,000 to $199,999 3.5% 7.1%

EDUCATION

Education Richmond USA
< 9th Grade 2% 5.0%
9-12th Grade 8% 7.0%
High School or GED 26% 27.0%
Other College 22% 20.0%
Associate's Degree 10% 9%
Bachelor's Degree 20% 20.0%
Master's Degree 8% 9.0%
Professional Degree 1% 2.0%
Doctorate Degree 3% 1.0%
Richmond is a city in Kentucky state in USA with a population of 35744 residents.. The poverty rate of Richmond is 27%, which is 93% higher than national average. The typical household in Richmond earns $39329 a year, compared to the national median of $67,500. Financial hardship is relatively common in the city as 1 in every 4 residents live below the poverty line, well above the national poverty rate of 14.1%. Additionally, more than 1 in every 9 area households live on an income of less than $10,000 a year. Nationwide, 5.8% of households do. Nearly 59.1% of households earn less than $50,000 a year compared to 39% national rate. The unemployment rate of Richmond remained 8.7%, which is 85% higher than national rate. Nearly 2 times comparable to 4.7% national rate, according to the Census.

Cost of living in Richmond is 92, which is 8% lower than national average. In Richmond, only 32% of adults have a bachelor's degree and 32% have some college but no degree. Median home value in Richmond is $148900 , which is 35% lower than national average. While median income in Richmond remained $39329, which is 42% lower than national average.
Richmond Scorecard

Jobs40%

Housing60%

Affordability50%

Safety60%

Amenities85%

Diversity60%

Education80%

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