Pros and Cons of Living In Richfield, Minnesota. Is Richfield, MN a Nice Place To Live or Retire?

FIND OUT MORE DETAILS

Richfield, Minnesota

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

Richfield is a city in Hennepin County, Minnesota. An inner-ring suburb of Minneapolis, Richfield is bordered by Minneapolis to the north, Minneapolis–Saint Paul International Airport and Fort Snelling to the east, Bloomington to the south, and Edina to the west. The population was 36,994 at the 2020 census.

Best Buy, the U.S.'s largest electronics retailer, is headquartered in Richfield.

DEMOGRAPHICS

Population
36253
Unemployment
5%
6% NAT AVG.
Poverty
7.8%
44% NAT AVG.
Cost Of Living
104
4% NAT AVG.

ECONOMICS

Median Home Cost
$241100
5% NAT AVG.
Median Income
$70091
4% NAT AVG.
Median Rent
$1150
1% NAT AVG.
Overall Score
7.5

CRIME REPORT

Total Crime
923
9% NAT. AVG.
6% STATE AVG.
Violent Crime
73
48% NAT. AVG.
27% STATE AVG.
Property Crime
850
20% NAT. AVG.
11% STATE AVG.

SOCIO-ECONOMICS

People Living Below BPL
1 in 13
Unemployed People
1 in 20
People Earning < $10,000
1 in 29
People Earning < $50,000
32.3%
People With Any Degree
1 in 2

ETHNICITY

Ethnicity Richfield USA
White 59.6% 60.1%
African American 10.8% 12.2%
American Indian 0.3% 0.6%
Asian 5.3% 5.6%
Hawaiian 0.1% 0.2%
Multiracial 4.4% 2.8%
Hispanic 19.2% 18.2%
Other 0.3% 0.3%

HOUSEHOLD INCOME

HOUSEHOLD INCOME Richfield USA
Less than $10,000 3.4% 5.8%
$10,000 to $14,999 3.2% 4.1%
$15,000 to $24,999 4.9% 8.5%
$25,000 to $34,999 8.1% 8.6%
$35,000 to $49,999 12.7% 12.0%
$50,000 to $74,999 21.4% 17.2%
$75,000 to $99,999 14.3% 12.8%
$100,000 to $149,999 18.9% 15.6%
$150,000 to $199,999 7.6% 7.1%

EDUCATION

Education Richfield USA
< 9th Grade 5% 5.0%
9-12th Grade 4% 7.0%
High School or GED 21% 27.0%
Other College 19% 20.0%
Associate's Degree 8% 9%
Bachelor's Degree 31% 20.0%
Master's Degree 9% 9.0%
Professional Degree 2% 2.0%
Doctorate Degree 1% 1.0%
Richfield is a city in Minnesota state in USA with a population of 36253 residents.. The poverty rate of Richfield is 7.8%, which is 44% lower than national average. The typical household in Richfield earns $70091 a year, compared to the national median of $67,500. Nearly 32.3% of households earn less than $50,000 a year compared to 39% national rate. The unemployment rate of Richfield remained 5%, which is 6% higher than national rate. Nearly 1 times comparable to 4.7% national rate, according to the Census.

Cost of living in Richfield is 104, which is 4% higher than national average. In Richfield, only 43% of adults have a bachelor's degree and 27% have some college but no degree. Median home value in Richfield is $241100 , which is 5% higher than national average. While median income in Richfield remained $70091, which is 4% higher than national average. Not only are incomes low in the town, but it also has a high cost of living, meaning a dollar does not go as far as it might elsewhere.
Richfield Scorecard

Jobs80%

Housing85%

Affordability60%

Safety95%

Amenities95%

Diversity90%

Education85%

THANKS FOR READING

Read this story and other stories in details on our Website.
FIND OUT MORE DETAILS