Richmond Average Income, Population and Demographics

Are you tired of spending 10+ hours searching for demographic and population data for Richmond, Rhode Island? We have all of the data you need by state, county, city, and zip code that will save you many hours of research!

In this article, we'll explore most of the 190+ data points we have for Richmond, covering popular demographics statistics like household income, race, age and gender, educational attainment, poverty, housing, and transportation.

The data on this page is from the 2022 American Community Survey (ACS) 5-Year survey from the US Census Bureau.

Median Household Income

According to the latest ACS 5-year survey in 2022, the median household income in Richmond is $111,989.00.

The chart below shows the average household income by age in Richmond.

  • Under 25
    $0.00
  • 25 to 44
    $117,763.00
  • 45 to 64
    $126,333.00
  • 65 and over
    $82,434.00

Average Household Income

A very commonly asked question is "what is the average household income in Richmond, Rhode Island?". The official term for the average household income is the mean household income. The mean household income is the total income of all households divided by the number of households.

The average (or mean) household income in Richmond is $133,862.00.

18.67% of households in Richmond, Rhode Island are classed as high income households (making $200,000+ per year).

The difference between a median and an average income

The difference between a median and mean household income is that the median income is the middle point of the set of numbers whereas the mean income is an average of all numbers.

Both metrics are important when looking at the income statistics for Richmond but because the median value doesn't depend on other numbers in the dataset, it doesn't change as much when some of the values are extremely low or extremely high.

Household Income Tiers for Richmond

We can also look at the household income tiers. This lets you see how many households fall into each of the earnings brackets and what percentage that bracket is of the total number of households.

The chart below shows the household income brackets to see which age groups have the highest median income. The actual data is more granular than these brackets, but we've simplified them into bigger categories to make reviewing the data for Richmond, Rhode Island easier to view.

You can purchase the raw data above, which will have the full income tiers with smaller jumps in household income.

  • Less than $24,999
    3.41%
  • $25,000 to $49,999
    8.67%
  • $50,000 to $74,999
    11.48%
  • $75,000 to $99,999
    19.65%
  • $100,000 to $149,999
    24.23%
  • $150,000 to $199,999
    13.89%
  • $200,000 or more
    18.67%

Per Capita Income

The per capita income is the average income of all people in Richmond, Rhode Island. This is calculated by dividing the total income of all people in Richmond by the total number of people in Richmond.

It differs from the average or mean household income because it includes all people in Richmond and not just the people who earn an income (i.e. children, retirees, unemployed, etc.).

The per capita income in Richmond, Rhode Island is $50,772.00.

Population in Richmond by Race and Ethnicity

The total population in Richmond is currently 8,077 people.

The race and ethnicity of the population in Richmond can be very important for social research, economics, and marketing to a multi-culturial society.

Whether you want to target products or services to a particular race or ethnicity, or provide housing and new businesses to improve areas with a larger ethnic minority population, this data is very valuable for discovering suitable areas.

The chart below breaks down the population and percentage for each race and ethnicity in Richmond, Rhode Island.

  • 3.30% White
    264
  • 96.30% Black/African American
    7,780
  • 92.20% Native
    7,445
  • 4.30% Hispanic
    348
  • 0.20% Asian
    15
  • 0.00% Hawaiian/Pacific Islander
    0
  • 0.00% Two or more races
    0
  • 0.00% Other
    0

Population of Richmond by Age and Gender

Another very important demographics statistic for Richmond, Rhode Island is the age and gender of the population. The age and gender of the population can be used to track trends in population growth or decline, and for businesses, the data can be used to identify people important to you and your business need.

In the table below, we show age groups at a 10 year granularity for ease of use. The raw data, which can be purchased above, includes age and gender at a 5 year granularity.

Age Group Male Female
0 to 9 Years 354 458
10 to 19 Years 537 630
20 to 29 Years 341 303
30 to 39 Years 687 536
40 to 49 Years 575 424
50 to 59 Years 673 716
60 to 69 Years 649 575
70 Years and over 286 333

Education Levels

Educational attainment is a very useful statistic that can give insights into other data such as the average household income, unemployment levels, and literacy.

What this means is that it is likely for areas that have higher levels of education to have higher average household incomes, lower unemployment rates, and higher literacy rates.

The chart below shows the educational attainment of the population in Richmond, Rhode Island.

  • Master's degree or higher
    26.91%
  • Bachelor's degree
    32.65%
  • Some college or associate's degree
    9.36%
  • High school diploma or equivalent
    31.08%
  • Less than high school diploma
    0.00%

Unemployment Rates

The unemployment rate is the percentage of the population that is actively looking for work but is unable to find a job. The unemployment rate is a very important statistic for Richmond because it can show how many people are actively looking for work and how many people are unable to find a job.

Lower levels of unemployment is generally seen as a positive sign for the economy. It also makes the government in Richmond look good because it shows that they are doing a good job of creating jobs, working to capacity, being efficient, and keeping the economy strong.

The unemployment rate is calculated using the total population in Richmond, Rhode Island that are over the age of 16.

The current population in Richmond that are over the age of 16 is 6,570 people.

The unemployment rate in Richmond is 1.40%, which means 71 people are unemployed.

Median Age in Richmond

The median age is an interesting metric because it gives us an idea of the age distribution of people in Richmond, Rhode Island. You know when you see a median age that it is the age where half of the population is older and half is younger than it.

For demographic studies, this can be used to infer and compare date to things such as birth rates, the age of parents, and so on.

An increasing median age can be a sign of an aging population, which can be a sign of a declining population. This is because older people tend to have fewer children and die more often than younger people.

The median age in Richmond is 43.1 years old.

We can also look at the median age by gender to compare the see how each group compares to the total median age:

Median age by gender in Richmond

43.1

Total

43.3

Male

41.9

Female

Households and Families

There are a total of 2,988 households in Richmond, and the average household size is 2.68 people.

For families, the total number is 2,301, and the average family size is 2.94 people.

1.70% of those families in Richmond, Rhode Island are living below the poverty line.

The table below shows the poverty thresholds for Richmond in .

Household Size Poverty Threshold
1 Person $14,580.00
2 People $19,720.00
3 People $24,860.00
4 People $30,000.00
5 People $35,140.00
6 People $40,280.00
7 People $45,420.00
8 People $50,560.00

Please note that the poverty thresholds shown above are from , while the latest demographics data we have is from 2022.

Households and Families by Marital Status

There are four types of household and family, as defined by the Census Bureau:

  • Married-couple
  • Male householder, no spouse present
  • Female householder, no spouse present
  • Nonfamily household

In the table below, you can see the total households and families in Richmond, Rhode Island for each type, as well as the average sizes.

Married Male Female Nonfamily
Total Households 1,753 237 311 687
Average Household Size 3.01 2.62 3.65 1.41
Total Families 1,753 237 311 0
Average Household Size 3.01 2.33 3.02 0

Housing Data in Richmond

There are total of 3,255 housing units in Richmond, Rhode Island. Of those units, 2,988 (91.80%) are occupied, and 267 (8.20%) are vacant.

Rental Rates

Of the 3,255 housing units in Richmond, 88 (2.70%) are occupied by renters. The median rent paid by renters is $1,256.00.

Owner occupied housing units make up the remaining 88.45% of housing units, with 2,879 housing units in total.

The table below breaks down how much rent is paid by renters in Richmond, Rhode Island.

  • No rent paid
    21
  • Less than $500
    0
  • $500 to $999
    21
  • $1,000 to $1,499
    67
  • $1,500 to $1,999
    0
  • $2,000 to $2,499
    0
  • $2,500 to $2,999
    0
  • $3,000 or more
    0

Property Values

The median value of a property in Richmond is $395,100.00.

The table below breaks down the range of valuations for all properties in Richmond.

  • Less than $50,000
    68
  • $50,000 to $99,999
    79
  • $100,000 to $149,999
    23
  • $150,000 to $199,999
    20
  • $200,000 to $299,999
    545
  • $300,000 to $499,999
    1,640
  • $500,000 to $999,999
    504
  • $1,000,000 or more
    0

Property Age

We can also look at the number of properties built in a given year to see the spread of property age in Richmond, Rhode Island.

  • 1939 or earlier
    379
  • 1940 to 1949
    0
  • 1950 to 1959
    88
  • 1960 to 1969
    237
  • 1970 to 1979
    700
  • 1980 to 1989
    670
  • 1990 to 1999
    608
  • 2000 to 2009
    318
  • 2010 to 2013
    195
  • 2014 or later
    60

Vehicles Available per Household

Finally, we have data on how many vehicles each household in Richmond has. The table below breaks down the number of vehicles available per household.

  • No vehicles available
    14
  • 1 vehicle available
    564
  • 2 vehicles available
    1,437
  • 3 or more vehicles available
    973

Commuting to Work in Richmond

The time and means of commuting to work are useful metrics to look at because they can be correlated against other data such as income and education level.

Does a longer commuting time indicate a higher average income? If so, has the huge increase in home working during the pandemic changed this?

Using these metrics, we can get a better understanding of the demographics of Richmond, Rhode Island, how they commute, and how that correlates to other data points.

The average travel time is 31.6 minutes, and the chart below covers the range of travel times across the population of Richmond.

  • Less than 5 minutes
    11
  • 5 to 9 minutes
    126
  • 10 to 14 minutes
    283
  • 15 to 19 minutes
    304
  • 20 to 24 minutes
    693
  • 25 to 29 minutes
    406
  • 30 to 34 minutes
    1,130
  • 35 to 39 minutes
    393
  • 40 to 44 minutes
    250
  • 45 to 59 minutes
    701
  • 60 to 89 minutes
    91
  • 90 or more minutes
    126

We can also look at the means of transport in Richmond to see which modes of transport people are using to commute to work.

  • Drove alone
    4,072
  • Carpooled
    296
  • Public transportation
    0
  • Walked
    23
  • Other means
    123
  • Worked from home
    296

Conclusion

Hopefully this article has given you the demographics data you were looking for in Richmond, Rhode Island.

If you need more demographics data, or you need the data listed above in spreadsheet form with more granular grouping, head back to the top of this page where you can purchase the complete demographics data for Richmond.

Link To or Reference This Page

We spent a lot of time downloading, cleaning, merging, and formatting the data that is shown on the site.

If you found the data or information on this page useful in your research, please use the tool below to properly cite or reference Name Census as the source. We appreciate your support!

  • "Richmond Average Income, Population and Demographics". NameCensus.com. Accessed on June 14, 2024. https://namecensus.com/demographics/michigan/osceola-county/richmond/.

  • "Richmond Average Income, Population and Demographics". NameCensus.com, https://namecensus.com/demographics/michigan/osceola-county/richmond/. Accessed 14 June, 2024

  • Richmond Average Income, Population and Demographics. NameCensus.com. Retrieved from https://namecensus.com/demographics/michigan/osceola-county/richmond/.