Rental market snapshot for Richfield, Minnesota

Richfield, Minnesota Rental Property Market Overview

The average rent for an apartment in Richfield is $2,007. The cost of rent varies depending on several factors, including location, size, and quality.

The average rent has increased by 0.51% over the past year.

Richfield is a city in Hennepin County, Minnesota, United States. The population was 35,228 at the 2010 census. The city is a first-ring suburb immediately south of Minneapolis and is the fourth largest city in the metropolitan area.

Last Updated December 23, 2022

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Average monthly rent graph in Richfield Minnesota | Cost of Living

  • The most expensive ZIP Code in Richfield is 55423 with an average price of $1,999
  • The cheapest ZIP Code in Richfield is 55423 with an average price of $1,860

Richfield ZIP Codes with the highest, most expensive rent

#zip codeaverage rent
155423$1,999

Live near Richfield, Minnesota's Top Sights and Attractions

Christian Park is a beautiful park located in Richfield, Minnesota. The park features a variety of amenities including a playground, picnic areas, a walking trail, and a pond. The park is a great place to visit for a day of relaxation or to take a stroll with the family.

Vets Memorial is a war memorial dedicated to the veterans of Richfield, Minnesota. The memorial is located in a park and features a statue of a soldier, a flagpole, and a plaque with the names of the veterans.

Augsburg is a small city located in Richfield, Minnesota. The city is home to a number of small businesses and is a popular destination for tourists. Augsburg is known for its beautiful scenery, its friendly people, and its many historical landmarks.

Donaldson is an attraction in Richfield, Minnesota that features a variety of interactive exhibits for visitors to enjoy. The attraction is designed to educate and entertain guests of all ages, and features a variety of hands-on activities, games, and displays.

The Heredia an attraction is a large, open-air museum that features a variety of interactive exhibits and displays. Visitors can learn about the history and culture of the city, as well as the natural environment and wildlife. The Heredia an attraction is a great place to spend a day or two, and is perfect for families with children.

The Roosevelt is an attraction in Richfield, Minnesota that is a replica of the presidential train car that Theodore Roosevelt used while he was in office. The train car is open for tours and there is also a museum on the property that contains artifacts from Roosevelt's life.

Taft Park is a beautiful park located in Richfield, Minnesota. The park features a playground, a picnic area, a walking trail, and a pond.

Garfield is an attraction in Richfield, Minnesota that features a statue of the popular cartoon character, Garfield the Cat. The statue is located in a park and is surrounded by a playground and picnic area.

Richfield, Minnesota area median rent change by ZIP Code map

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How does Richfield compare to other cities in Minnesota ?

citymedian price
Excelsior$2,387
East Grand Forks$600
Eden Prairie$2,043
North Saint Paul$1,595
Shakopee$1,777
Lakeville$2,135
Winona$635
Alexandria$895
Hopkins$1,295

Average household income in Richfield area graph - US Census

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The median household income in Richfield in 2021 was $70,091. This represents a 34.5% change from 2011 when the median was $52,131.

#categorypercent
0Less than $10,0003.4%
1$10,000 to $14,9993.2%
2$15,000 to $19,9992.8%
3$20,000 to $24,9992.1%
4$25,000 to $29,9994.0%
5$30,000 to $34,9994.1%
6$35,000 to $39,9993.6%
7$40,000 to $44,9995.2%
8$45,000 to $49,9993.9%
9$50,000 to $59,9999.2%
10$60,000 to $74,99912.3%
11$75,000 to $99,99914.3%
12$100,000 to $124,99910.0%
13$125,000 to $149,9998.9%
14$150,000 to $199,9997.6%
15$200,000 or more5.4%

Frequently asked questions

Our data is best categorized as "alternative data", which is a burgeoning sector. Through partnerships and direct feeds, we extract key factual elements that are publicly available within rental listings on internet listing sites and property websites. Once aggregated, we mine through the data to parse out relevant insights and calculate important metrics, benchmarks, and other KPIs. Each week, our system sifts through millions of listing observations and other pockets of market information to deliver the most comprehensive picture of rental housing available.

This is a metric that we try not to overthink. Simply, we take each unique listing observation within a geographic boundary and calculate a simple average. Of course, we're careful to filter for duplicates and other listings that aren't reflective of the market.

Yes, but please attribute us accordingly.

Yes. We can deliver bulk raw data in various formats. Please contact us to discuss - [email protected]

While some of our data is refreshed daily and other data comes in weekly, the bulk of it comes in on a biweekly basis.

Our coverage is nationwide! In our platform, we have data points for every ZIP code and neighborhood boundary in the country.

Every rental housing unit is differentiated by attributes such as its location, square footage, and amenity composition. Thanks to machine learning and natural language processing technologies we deploy, we're able to deconstruct our rental listing data points and identify key amenities for each listing. With this information, we're able to give signals around how certain amenities drive rental pricing value in certain areas.

Well, we think so! At the highest level, our process is simple. Listings data is ingested, cleaned (de-duplicated. etc.), analyzed for insights, and then presented to our users.
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