Rental market snapshot for Richfield, Minnesota

Richfield, Minnesota Rental Property Market Overview

Richfield, Minnesota is a vibrant city located in the Twin Cities metropolitan area. According to the US Census, the population of Richfield in 2021 is 36,527. Richfield is home to a variety of businesses, parks, and recreational activities, making it a great place to live and work. The city is known for its diverse population, excellent schools, and strong sense of community. Richfield is a great place to call home, and its population continues to grow each year.

The average rent for an apartment in Richfield is $1,938. The cost of rent varies depending on several factors, including location, size, and quality.

The average rent has decreased by 0.00% over the past year.

Last Updated March 25, 2024

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Average monthly rent graph in Richfield Minnesota | Cost of Living

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Richfield ZIP codes with the highest, most expensive rent

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Live near Richfield, Minnesota's Top Sights and Attractions

Christian Park is a beautiful outdoor area located in Richfield, Minnesota. It features a large lake, walking trails, and plenty of open space for picnicking and other activities. There are also several playgrounds and a large picnic shelter with grills. The park also has a disc golf course, a basketball court, and a sand volleyball court. The park is a great place to spend the day with family and friends, and it's a great spot for a peaceful walk or a fun game of Frisbee.

Vets Memorial is a memorial park located in Richfield, Minnesota. It is dedicated to honoring the service and sacrifice of veterans from all branches of the United States Armed Forces. The memorial features a large granite monument with the names of veterans inscribed on it, as well as a reflecting pool, flagpoles, and a memorial garden. The memorial also includes a walking path, benches, and a picnic area.

Augsburg is a historic attraction located in Richfield, Minnesota. It is a 19th century farmstead that has been preserved and restored to its original state. The property includes a two-story farmhouse, a barn, a granary, a smokehouse, a chicken coop, and a variety of other outbuildings. Visitors can explore the grounds and learn about the history of the property and the family who lived there. The site also offers educational programs and special events throughout the year.

Donaldson is a historic site located in Richfield, Minnesota. It is a former farmstead that was built in the late 1800s and is now a museum. The site includes a restored farmhouse, barn, and other outbuildings, as well as a large garden and orchard. Visitors can explore the grounds and learn about the history of the area, as well as take part in educational programs and activities.

Heredia is a popular attraction located in Richfield, Minnesota. It is a large outdoor sculpture garden featuring over 30 unique sculptures made from recycled materials. The sculptures range from abstract to representational and are made from items such as car parts, scrap metal, and other found objects. The sculptures are spread out over two acres of land, and visitors can take a self-guided tour of the garden. Heredia also hosts special events throughout the year, including art classes, live music, and food trucks.

Roosevelt is an outdoor sculpture located in Richfield, Minnesota. It is a bronze statue of President Franklin D. Roosevelt seated in a wheelchair, created by sculptor Robert L. Dean. The statue is situated in a park-like setting, surrounded by trees and a pond. It is a popular spot for visitors, who come to admire the artwork and reflect on the legacy of the former president.

Taft Park is a large outdoor recreational area located in Richfield, Minnesota. It features a variety of activities, including a playground, walking trails, picnic areas, and a large lake. The park also has a disc golf course, a baseball field, and a basketball court. The lake is stocked with fish and is a popular spot for fishing and boating. The park also has a large pavilion, perfect for hosting events or gatherings.

Garfield is a large, outdoor sculpture of the famous comic strip cat, Garfield. The sculpture stands at over 20 feet tall and is made of steel and fiberglass. It is located in a park-like setting and is surrounded by trees and a pond. Visitors can take pictures with the sculpture, and it is a popular spot for families to visit.

This attraction is a large outdoor shopping center located in Richfield, Minnesota. It features a variety of stores, restaurants, and entertainment venues. There is a large outdoor amphitheater, a movie theater, and a variety of restaurants and bars. The center also features a large fountain and a playground for children. The area is surrounded by lush green trees and is a great place to spend an afternoon.

Wood Lake Nature Center is a beautiful outdoor oasis located in the heart of the Twin Cities. It features over 300 acres of wetlands, woodlands, and prairies, as well as a variety of trails for hiking, biking, and bird watching. Visitors can explore the boardwalk, observe wildlife, and take part in educational programs. The nature center also offers a variety of activities for children, including nature-themed scavenger hunts and outdoor play areas.

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
Newport$2,480
Farmington$2,479
Maple Grove$2,370
Princeton$1,680
Crookston$770

Average household income in Richfield area graph - US Census

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The median household income in Richfield in 2021 was $74,301. This represents a 41.7% change from 2011 when the median was $52,447.

#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%

Neighborhoods in Richfield

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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.

As of February , the average rent in Richfield is $1,938.
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