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Richmond city, MI

ZIP 48064 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 48064

Median Home Value
$280,400
Median Rent
$529
Affordability Snapshot
$77,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,801/mo PITI).

8%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.5x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

44.2 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 48064 in Richmond city, MI, a household would need roughly $77,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,801. That is roughly in line with the local median household income ($79,375). Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Mostly owner-occupied, low vacancy — stable housing market.

Heating Fuel
Housing Metrics
Owner Occupied
94.8%+45% vs US avg
x
Vacancy Rate
1.9%-81% vs US avg
x
Broadband Access
89.7%+3% vs US avg
x
4+ Bedrooms
3.5%-76% vs US avg
x
Built Pre-1939
3.8%-71% vs US avg
x
Built Post-2014
0.8%-88% vs US avg
x
Rent Burden >30%
17.3%-65% vs US avg
x
Mortgage-Free
41.5%+9% vs US avg
x
$280,400
Home Value
$529
Rent
1977
Year Built
2005
Moved In

Residents have lived here since ~2005 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached83.9%
  • 1-unit attached0.0%
  • 2-9 units0.8%
  • 10+ units0.0%
  • Mobile home & other15.4%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$280,400
Median rent$529
Owner-occupied94.8%
Vacant1.9%
Price-to-income3.5x
Est. income to buy$77,000