Homes, values and local insight for Richmond, Washington County, Rhode Island. Typical home value $528,000.
Reviewed and updated October 3, 2026 by Ryan and Megan Winslow, Winslow Homes
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Richmond is a distinctive Rhode Island community that offers residents a blend of local character, quality amenities, and regional convenience.
The Richmond real estate market serves a range of buyers including first-time homeowners, growing families, professionals, and retirees. Properties include single-family homes, condominiums, and townhouses across various price points and styles that reflect the area's architectural heritage and modern development.
Winslow Homes LLC and Ryan & Megan Winslow serve Richmond buyers and sellers across Rhode Island. Ryan and Megan Winslow provide both real estate brokerage and mortgage services as Mortgage Bankers with The Federal Savings Bank (Ryan Winslow NMLS #2426605 | Megan Winslow NMLS #2692933). Get pre-approved at www.winslowloan.com or call 386-690-5858.
Explore Richmond Neighborhoods
Historic center with local shops, dining, and civic institutions.
Residential area with established neighborhoods and good school access.
Quiet residential streets with a mix of homes and convenient commuter access.
Expanding area with newer construction and family-friendly amenities.
Unique Property Types in Richmond
Properties with lake, pond, or reservoir access where available in Richmond.
Homes near local waterways offering natural settings and scenic views.
What Every Buyer Must Know
Some areas of Richmond near waterways may fall in AE flood zones. Verify specific property with FEMA flood map.
Moderate flood risk exists in select Richmond areas near wetlands or drainage basins.
Most Richmond properties are in Zone X (minimal flood risk). Flood insurance optional but may be recommended.
Insurance Tip: Rhode Island homeowners insurance averages $1,400-$2,400 annually. Coastal zones require windstorm coverage.
Real Estate Investment in Richmond
Steady appreciation and rental demand make Richmond suitable for long-term wealth building.
Rental demand in Richmond supports cash flow strategies for single-family and multifamily properties.
Older properties in Richmond offer value-add opportunities through renovation and modernization.
Richmond investment risks include regional market volatility, property tax changes, and insurance cost increases. Work with experienced agents to assess individual opportunities.
Where New Homes Are Being Built
New development zones on the outskirts of Richmond offer modern construction and newer floor plans.
Buyer Tips for New Construction: Always hire your own inspector for new builds. Review CDD obligations carefully. Negotiate upgrades, not price. A buyer's agent costs you nothing with new construction and provides critical representation.
Drive Times & Work-From-Anywhere
Convenient access from Richmond to nearby cities via major roads and highways.
Richmond residents commute to regional metropolitan areas for employment and entertainment.
Richmond supports remote workers with reliable broadband access, quiet residential settings, and home office-friendly properties.
Your Dollar in Richmond
Rhode Island property tax averages 1.53%. Homestead exemptions available in some municipalities. Tax rates set by town assessors.
Rhode Island has a progressive income tax from 3.75% to 5.99%. Property taxes vary by municipality and are among the higher rates in New England. The state offers a homestead exemption and property tax relief for seniors. Car tax elimination has been phased in across municipalities.
Cost of living in Richmond aligns with regional Rhode Island averages. Housing remains the largest expense category.
Homeowners insurance in Richmond averages $1,200-$2,400 annually. Coverage varies by property age, value, and risk factors.
Living the Richmond Life
Richmond offers parks, trails, and outdoor recreation opportunities year-round.
Local restaurants, cafes, and cultural venues provide community gathering spaces in Richmond.
Local retail, services, and major shopping areas accessible within and near Richmond.
Employment & Economic Drivers
Retail, professional services, and hospitality anchor the Richmond economy.
Residents also commute to regional employment centers for professional opportunities.
Remote work grows as a major economic factor in Richmond, supported by quality broadband and home-office friendly properties.
Getting Around Richmond
Richmond connects to major highways and arterials providing access to regional destinations.
Richmond offers walkable neighborhoods and bike-friendly areas in the town center and residential zones.
Richmond residents access regional airports within reasonable driving distance for domestic and international travel.
What's Coming to Richmond
Expanding development areas bringing new construction to Richmond.
The Richmond market outlook remains positive with steady demand, moderate appreciation, and balanced inventory conditions expected through 2026.
Real Estate Investment in Richmond
Pre-approve financing before searching. Work with Richmond-focused agents.
Long-term holds in Richmond benefit from regional appreciation trends.
DISCUSS INVESTMENT STRATEGY
Avoid These Costly Errors
Get pre-approved with Ryan & Megan Winslow, Mortgage Bankers with The Federal Savings Bank, before shopping.
Budget for taxes, insurance, HOA, and maintenance beyond the mortgage payment.
A local Richmond agent knows which streets flood, which buildings have pending special assessments, and which neighborhoods are appreciating fastest. Buyer agent services are free to the buyer in most transactions.
The typical home in Richmond is worth $528,000, 23% below the Washington County typical value of $690,000 and 3% above the Rhode Island typical value of $511,000.
Zillow Home Value Index for Richmond, August 2026. The middle of the market for single family homes and condos.
Home values in Richmond moved +31.8% over five years and +96.6% over ten.
Median gross rent in Richmond. Useful for investors running rental numbers.
Share of occupied homes in Richmond lived in by the owner.
A newer housing stock means fewer surprises at inspection.
Median household income in Richmond.
Ryan and Megan are mortgage bankers with The Federal Savings Bank, lending in all 50 states. You get the home and the loan from one team. On a typical Richmond home of $528,000:
Ryan and Megan price Richmond homes from recent sales, not guesses. Send your address and you get a free market analysis, with no obligation.
Typical value $495,000 · 8,431 residents
Area guide →Typical value $624,000 · 6,568 residents
Area guide →Typical value $703,000 · 8,052 residents
Area guide →Typical value $726,000 · 32,094 residents
Area guide →Typical value $571,000 · 6,720 residents
Area guide →Typical value $867,000 · 14,407 residents
Area guide →See the full Washington County real estate guide or the Rhode Island real estate guide.
The Zillow Home Value Index for Richmond was $528,000 in August 2026, +2.8% over the past year.
Richmond is in Washington County, Rhode Island.
About 8,142 people as of the 2024 Census Bureau estimate, up from 8,023 in 2020.
Ryan and Megan Winslow of Winslow Homes have sold over 3,000 homes since 2009 and are licensed in Florida, Massachusetts, Connecticut and Rhode Island. Call or text 386-690-5858.
Apply at www.winslowloan.com. Ryan and Megan are mortgage bankers with The Federal Savings Bank and lend in all 50 states, including FHA, VA and conventional loans.
95% of occupied homes in Richmond are owner occupied, based on the 2019 to 2023 American Community Survey.
17 years, over 3,000 homes sold, and one team for the home and the loan. Call or text 386-690-5858.
Sources: U.S. Census Bureau 2024 population estimates and 2019 to 2023 American Community Survey; Zillow Home Value Index, August 2026. Numbers update as new data is released. Talk to Ryan and Megan for current sold prices on your street.
No in-person meeting or phone call needed for most addresses. See your estimated value, price range and value trend in seconds.
Get coming-soon homes, pocket listings and price drops in Richmond, RI before they hit the big home search sites.
The typical home in Richmond is worth $532,552 as of August 2026, across 4 ZIP codes ranging from $499,295 in 02894 to $601,978 in 02892. Values moved +3.8% over the last 12 months at the middle ZIP code.
| ZIP | Typical value | 12 months | 5 years | Median sale, Mar to May 2026 | Days on market |
|---|---|---|---|---|---|
| 02812 | $532,552 | +3.5% | +30.4% | $514,750 | 9 |
| 02892 | $601,978 | +4.1% | +34.0% | ||
| 02894 | $499,295 | +1.6% | +30.6% | ||
| 02898 | $499,594 | +3.8% | +31.5% |
Sources: Zillow Home Value Index through August 2026 and the Redfin Data Center ZIP code tracker, March to May 2026. Ask Ryan and Megan for a value for your own home.
