Market Overview
Home Prices in Richland, MI
The median home value in Richland, MI is $388,346 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.8% compared to a year ago and up 4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Richland are priced5% below average. Richland is part of the Kalamazoo-Portage, MI metro area.
Over the past five years, Richland home values have risen by approximately23.3%, reflecting strong long-term appreciation in this market.
Price History
Richland Home Price Trend
City Comparison
Richland vs. National Median
At $388,346, homes in Richland cost 5% below the national median of $410,000. This makes Richland a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Richland?
20% Down Payment
$77,669
on $388,346
Monthly P&I
$2,025/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,572/mo
incl. taxes & insurance
Income Needed
$102,880
gross annual (30% rule)
10% Down Option
$38,835
+ PMI applies
Loan Amount (20% dn)
$310,677
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Richland, MI?
The median home value in Richland is $388,346 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.8% year-over-year.
How much have home prices changed in Richland?
Over the past year, home values in Richland have increased by 2.8%. Over five years, prices have risen approximately 23.3%.
How much do I need to earn to buy a home in Richland?
To comfortably afford the median home price of $388,346 with a 20% down payment ($77,669) at today's rates (6.8%), you'd need a gross annual income of approximately $102,880. This assumes keeping total housing costs at or below 30% of gross income.
How does Richland compare to the national average home price?
The national median home value is approximately $410,000. At $388,346, homes in Richland are 5% below the national average.
What metro area is Richland part of?
Richland is part of the Kalamazoo-Portage, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.