What does it cost to buy a home in Richland, WA?

As of August 2024, the median sale price of a home in Richland is $462,000. That’s up 0.5% from one year ago.

Home prices in Richland have held fairly steady since January 2022. Since then, the median sales price has remained in between a high of $525,000 and a low of $427,632. Coincidentally, those prices happened in back-to-back months (December 2023 and January 2024, respectively).

The chart below shows how median prices rose during the pandemic, but then flattened out at the start of 2022.

(For the most recent Richland numbers, don’t miss our monthly Tri-Cities housing market report.)

Richland Home Prices, Annually Since 2018

The recent changes in Richland home prices can also be seen by looking at the median price at the end of each year since 2018.

Prices jumped 37% between December 2019 and December 2021 — which includes the majority of the COVID pandemic. Home buyer demand was extreme in those years, while the supply of available homes sank to levels we hadn’t seen in decades. When life began to return to “normal” in 2022, you can see how prices began to flatten. In fact, December’s median has dropped each of the past two years in Richland.

(To be clear, what you see on the chart above represents the median price of homes sold for the entire month of December in each year since 2018; it’s not the median price on December 31 of each year.)

Is it expensive to live in Richland?

It depends what year you look at, but overall if you’re thinking about moving to Richland, you may end up paying more for your home than you would anywhere else in the Tri-Cities.

The chart below shows end-of-year home prices in the Tri-Cities plus West Richland each year since 2018. Each year, Richland’s median home price has been either the highest or second-highest in the Tri-Cities. (Richland is in yellow.)

So the answer to the question is that, yes, Richland is expensive at least when comparing home prices to the rest of the Tri-Cities.

Richland Life

Richland has a lot going for it!

If you love American history, you should love Richland. It’s home to the Hanford Nuclear Site, part of the Manhattan Project of World War II. The downtown area still features many of the “alphabet homes” that were built to house workers who were brought in to work at Hanford. The area continued to grow after the war, and still features some of the most beautiful and unique mid-century modern homes you’ll find anywhere. We’ve gone on city-sponsored tours of both types of homes and we highly recommend you do the same next time tours are offered.

In 2022, Richland was honored as the #2 best small city to start a small business! More recently, the Trust for Public Land rated Richland as the most park-friendly city in the Tri-Cities area. The photo above was taken at Richland’s Howard Amon Park, which is always a popular spot for picnics, walks or jogs along the water, and all sorts of other outdoor activities.

Homes for Sale in Richland

If you’re thinking about buying a home in Richland, these links will show what’s available right now in different price ranges:

• Richland luxury homes for sale above $1,000,000
• Richland homes for sale between $900,000 and $1,000,000
• Richland homes for sale between $800,000 and $900,000
• Richland homes for sale between $700,000 and $800,000
• Richland homes for sale between $600,000 and $700,000
• Richland homes for sale between $500,000 and $600,000
• Richland homes for sale between $400,000 and $500,000
• Richland homes for sale between $300,000 and $400,000
• Richland homes for sale below $300,000

Now that you know what it costs to buy a home in Richland, reach out with any other questions I can answer. Use the “Text Us” button below and I’ll get back to you as soon as I can.