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Richmond

Richmond

Located in Madison County

$320,588 Average Value
$170 Average Price per Sq Ft
163 Homes For Sale

Roots in the Kentucky Bluegrass

About 30 miles south of Lexington, Richmond is the fourth-largest city in the Kentucky Bluegrass, a region known for its horses, distilleries and rich history. “I’ve heard that when the sun shines on bluegrass, you can actually see a blue cast,” says Tina Witt, a local real estate agent with Keller Williams Legacy Group. “The name is strongly associated with how pretty Kentucky is in the summer. There are green pastures, hills and a whole lot of horses.” Named after the state capital of Virginia, Richmond’s roots date back to the 18th century when English settler Daniel Boone forged a path through the land. Today, his statue stands tall at Eastern Kentucky University in Richmond, where students traditionally rub his right foot for good luck. “People like Richmond because it’s down-to-earth,” Witt says. “There’s not so much hustle and bustle, and it’s big enough that you have everything you need. But if you’d rather go to Macy’s than JCPenney, you just drive 25 minutes up to Lexington.”

About 30 miles south of Lexington, Richmond is the fourth-largest city in the Kentucky Bluegrass.
About 30 miles south of Lexington, Richmond is the fourth-largest city in the Kentucky Bluegrass.
Eastern Kentucky University enrolls over 10,000 students in central Richmond.
Eastern Kentucky University enrolls over 10,000 students in central Richmond.
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Lot sizes increase along Richmond’s rural outskirts

The median price for a single-family home in Richmond sits around $300,000, which is slightly lower than Lexington's median. New traditional architecture is common in Richmond since most properties were constructed in the early 2000s. Though 19th-century homes populate the downtown area, homebuyers are more likely to find modern farmhouses, ranch-style homes and bilevels in subdivisions like Magnolia Pointe and Arbor Woods. Sprawling fields of farmland fan across the city’s outskirts, studded with large estates on lots of an acre or more. Properties like these line the way to Lexington, where Boone’s Trace National Golf Club is one of many modern communities still developing just south of the county line. “Clay’s Ferry Bridge separates Madison County from Fayette County,” Witt says. “So, a lot of people will purchase a home in northern Richmond to get more bang for their buck while still being close enough to Lexington.”

The median price for a single-family home in Richmond sits around $300,000.
The median price for a single-family home in Richmond sits around $300,000.
Homebuyers can expect to spend around $169 per square foot in Richmond.
Homebuyers can expect to spend around $169 per square foot in Richmond.
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From hiking to horseback riding in Madison County

Richmond has hot, humid summers and relatively mild winters. “Kentucky weather is a bit of a joke among everybody who lives here,” Witt says. “It’ll be winter in the morning and summer by evening. But you can always tell when it’s fall because the leaves change; and when it’s spring because everything is so green.”

When the warmer months hit, many residents head to Fort Boonesborough State Park for its hiking trails and historic landmarks, including a replica of Daniel Boone’s original fort with historical reenactors. Hikers might also head to Camp Catalpa Park, across the water from the Lake Reba Recreational Complex. “That’s where all the little league teams play,” Witt continues. “They have a public pool and the Gibson Bay Golf Course, where they have fireworks on the Fourth of July. People can come out with their lawn chairs to watch.” Lake Reba is a hot spot for fishing and kayaking. Farther north, Stepping Stone Ranch offers horseback riding throughout the area’s rural trails.

Richmond little league teams play games at the Lake Reba Recreational Complex.
Richmond little league teams play games at the Lake Reba Recreational Complex.
Fort Boonesborough State Park features areas for camping, boating, hiking, and swimming.
Fort Boonesborough State Park features areas for camping, boating, hiking, and swimming.
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Shopping & dining along the Eastern Bypass

Downtown Richmond is characterized by small businesses inside charming Queen Anne buildings. Witt notes how government offices, boutiques, coffee shops and eateries surround the towering, white courthouse overlooking Main Street. On Irvine Street, Dreaming Creek Brewery was named for the historic stream that runs from Eastern Kentucky University all the way west to the Kentucky River. Richmond’s Eastern Bypass curves through the city like a horseshoe, lined with big-name retailers and grocers. There’s one particular area called Richmond Centre,” Witt says. “That’s where you have your Meijer, Michaels, JCPenney and that sort of thing.” She explains that other major retailers, like Walmart Supercenter and Lowe’s, sit closer to the university.

Richmond residents shop for fresh produce and home goods at Walmart.
Richmond residents shop for fresh produce and home goods at Walmart.
Dreaming Creek Brewery in Richmond was named for the historic stream that runs from EKU all the way west to the Kentucky River.
Dreaming Creek Brewery in Richmond was named for the historic stream that runs from EKU all the way west to the Kentucky River.
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Richmond’s scarlet begonias & fresh produce

Scarlet begonias line the walkway at Millstone Park, where residents gather each autumn for Richmond’s annual Millstone Festival. “It’s only been going on for a few years,” Witt says. “It all began with this local in town who collects millstones. He made this little park on Main Street for people to walk through, and from that came the festival.” From food vendors to antique cars, live music and crafts, the Millstone Festival is now one of the most prominent gatherings in Richmond.

The city’s rural outskirts offer several attractions, including the 500-acre Chennault Vineyard. Similarly, Baldwin Farms is known for its fresh produce. Guests can purchase local honey in the summer, pick pumpkins in the fall and return in the winter to cut their own Douglas fir Christmas trees. The city is also home to the Madison County Fairgrounds.

Richmond residents frequent the 500-acre Chenault Vineyard for local wine.
Richmond residents frequent the 500-acre Chenault Vineyard for local wine.
Scarlet begonias line the walkway at Millstone Park during summer months in Richmond.
Scarlet begonias line the walkway at Millstone Park during summer months in Richmond.
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EKU football games at Roy Kidd Stadium

Richmond students attend the Madison County School District, which earns a B on Niche. The district operates two vocational schools for students seeking to sharpen their trade skills: Ignite Academy North Campus, located along the Eastern Bypass, and Ignite Academy South Campus, located in Berea.

Eastern Kentucky University enrolls over 10,000 students in central Richmond. “The football team is really popular, and a lot of people tailgate before going to the games,” Witt says. “It’s got one of the best criminal justice programs around, and people come from everywhere to enroll in it. But it’s also popular for nursing—I’m a nurse, and that’s where I went to nursing school!”

Ignite Academy North serves 560 students in 9th through 12th grades in Richmond.
Ignite Academy North serves 560 students in 9th through 12th grades in Richmond.
Eastern Kentucky University in Richmond offers over 100 undergraduate and graduate programs.
Eastern Kentucky University in Richmond offers over 100 undergraduate and graduate programs.
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Commuting to Lexington & Louisville

According to the Richmond Chamber of Commerce, some of the region’s largest employers include Pattie A. Clay Regional Medical Center and NACCO Industries, among other holding and manufacturing companies. “Lexington is where the University of Kentucky is and many of our hospitals,” Witt says. “So, a lot of nurses and doctors often live in Richmond and commute north every day.”

Interstate 75 is a central thoroughfare that heads north into Lexington and south toward Knoxville, Tennessee. Commuters are typically car-dependent, while Richmond Transit provides localized bus service. Travelers can take domestic flights from Lexington’s Blue Grass Airport or fly internationally from Louisville International Airport, about 100 miles northwest.

Crime statistics in Richmond

According to FBI data, violent crime in Richmond rose by about 17 percent from 2021 to 2023; the most recent year data is available. Property crime has also increased slightly since then, but has fallen by 34% since its peak in 2016.

Dana Chesser
Written By
Dana Chesser
Ryan Minion
Photography Contributed By
Ryan Minion
Conar McDaniel
Video By
Conar McDaniel

Interested in learning more about homes in this area? Reach out to Delma Peercy, an experienced agent in this area.

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Richmond Housing Trends

Housing Trends

Median List Price
$316,850
Median Sale Price
$307,900
Median Single Family Sale Price
$314,609
Median Townhouse Sale Price
$233,700
Median 2 Bedroom Sale Price
$325,000
Median Change From 1st List Price
2%
Last 12 months Home Sales
649
Median Home Sale Price YoY Change
2%
Average Price Per Sq Ft
$170

Area Facts

Number of Homes
8,149
Number of Homes for Sale
163
Median Year Built
1999
Months of Supply
3.00
Average Single Family Home Size Sq Ft
2,066
Above the national average
1,927
Average Townhouse Size Sq Ft
1,930
Average 2 Bedroom Size Sq Ft
1,534
Median Lot Size Sq Ft
12,196

Open Houses

  • Sunday, Nov 16
    Open Sun 11AM - 1PM

    713 Tower Dr, Richmond, KY 40475

    $295,000

    • 3 Beds
    • 2 Baths
    • 1,447 Sq Ft
    • 713 Tower Dr
    • New 2 days ago

    This immaculate 2021 home shows better than new, featuring a wood-planked fenced backyard that backs to green space, a full irrigation system, and a beautiful landscaping package. Located on a quiet cul-de-sac street, this three-bedroom, two-bath split-bedroom ranch offers true zero-step entry and easy, low-maintenance living—perfectly situated for convenient access to both Richmond and Berea.

    Agent Photo
    Robin Jones
    Keller Williams Legacy Group
    (859) 724-6050
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  • Sunday, Nov 16
    Open Sun 1PM - 3PM

    113 Covington Way, Richmond, KY 40475

    $325,000

    • 3 Beds
    • 2 Baths
    • 1,696 Sq Ft
    • 113 Covington Way
    • New 5 days ago

    Welcome home to this charming 3BR/2BA ranch in an unbeatable Richmond location! Just minutes to Richmond Centre, I-75, and the exciting new sports complex/park opening Spring 2026 — convenience and future growth are right at your doorstep. Inside, you'll love the warm, comfortable feel. The living room features a cozy gas-log fireplace, and the layout gives you tons of flexibility. The eat-in

    Agent Photo
    Robin Jones
    Keller Williams Legacy Group
    (859) 340-8981
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  • Sunday, Nov 16
    Open Sun 1PM - 3PM

    284 Tahoe Way, Richmond, KY 40475

    $589,900

    • 5 Beds
    • 3.5 Baths
    • 3,534 Sq Ft
    • 284 Tahoe Way
    • New 23 days ago

    Nestled on a picturesque 1-acre lot in North Richmond, this stunning 5BR/3.5BA home showcases custom craftsmanship and upscale finishes throughout. From the moment you step inside, the attention to detail is unmistakable—from the elegant coffered ceilings in the great room to the custom built-in shelving surrounding the stone gas-log fireplace. At the heart of the home, the spacious kitchen

    Agent Photo
    Robin Jones
    Keller Williams Legacy Group
    (859) 765-6026
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Homes for Sale

Homes for Rent

Distribution of Home Values

Source: Public Records

Average Home Value





Source: Public Records

Property Mix - Square Feet

Richmond Has More Renters

Demographics

Total Population
39,316
Median Age
32
Population under 18
23.4%
On par with the national average
23.8%
Population over 65
12.8%
Below the national average
19.1%

Finances

Median Household Income
$42,313
Significantly below the national average
$79,601
Average Household Income
$63,549

Education and Workforce

High School Graduates
89.5%
College Graduates
35.9%
On par with the national average
34.1%
Advanced Degrees
15%
% Population in Labor Force
67.7%
On par with the national average
64.9%

Weather

Annual Precipitation
47''
Average Winter Low Temperature
28°F
Average Summer High Temperature
87°F
Annual Snowfall
6''

Area Factors

Somewhat Bikeable

Bike Score®®

3 / 100

Car-Dependent

Walk Score®®

0 / 100
Source: Walk Score
Source: Walk Score

Walk Score® measures the walkability of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address. CAP Index provides objective, accurate, and consistent data to help measure, compare, and mitigate crime risks.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
Richmond
Delma Peercy
BlueHorse Realty
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