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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Richmond, IN Housing Affordability Index

Richmond, Indiana has an MBR Housing Affordability Index score of 141.3 (Highly Affordable) as of October 30, 2026, ranking 424th most affordable of 621 scored Indiana cities, compared with 123.6 statewide and 97.4 nationally. On a median-priced $114,400 home with 20% down, the Indiana average 30-year fixed rate of 7.41% means a monthly principal and interest payment of about $634, or 17% of the city’s $45,399 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Richmond is updated every night from live Indiana mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Richmond MBR-HAI 141.3 Highly Affordable
Rank in Indiana 424 of 621 1 = most affordable
Indiana 123.6 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.41% Indiana lenders
Median home value $114,400 U.S. Census Bureau

Richmond is 17.7 points above the Indiana score. Scores as of October 30, 2026. See the Indiana index

View Richmond Mortgage Rates

What It Takes to Buy in Richmond

$634/mo
Principal & Interest
Median home, 20% down, 7.41%
$27,200
Income Needed
To keep the payment at 28% of income
$45,399
Median Household Income
Indiana: $71,957
2.5x
Price-to-Income Ratio
Indiana: 3.0x
$785/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$1,025/yr
Median Property Tax
0.90% of median value
27.4%
Owner Cost Burden
Owners spending 30%+ of income on housing
49.0%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Richmond, Indiana. The rate is the Indiana average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the Richmond Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Richmond, Indiana score: 141.3 (Highly Affordable), ranked 424 of 621 Indiana cities. monitorbankrates.com/housing-affordability-index/indiana/richmond”