Cost of Living in Richmond County, North Carolina
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Richmond County Compares
Median monthly rent comparison
Detailed Housing Stats
Data Story
About Cost of Living in Richmond County, North Carolina
Richmond County has lowest incomes, moderate rents
Richmond County's median household income of $43,626 ranks lowest among the eight counties and falls far below the national median of $74,755, creating affordability challenges despite relatively low rents of $744 per month. The rent-to-income ratio of 20.5% reflects the income squeeze facing residents.
Strained affordability despite low rents
Richmond County's rent-to-income ratio of 20.5% exceeds North Carolina's 18.6% state average, even though monthly rents of $744 fall below the state median of $938. The mismatch stems from incomes that fall significantly below state norms, making Richmond one of the state's least affordable counties despite cheap rents.
Cheapest rents, but lowest incomes too
Richmond County rents of $744 are the region's lowest, undercutting Person County ($796) by $52 monthly. However, this advantage vanishes when considering incomes: Richmond's $43,626 median income trails all neighboring counties, making the 20.5% rent-to-income burden feel heavier despite lower nominal rents.
Income crisis drives housing affordability gap
Richmond County households earning just $43,626 spend 20.5% of income on rent, consuming roughly $744 monthly. Homeownership offers modest cost relief at 19.9% of income ($723 monthly), but with median home values of only $120,800, ownership remains the better long-term path for residents.
Richmond County: consider income stability first
Richmond County's 20.5% rent-to-income ratio reflects an income crisis rather than excessive housing costs. While rents are the region's cheapest at $744, relocating here requires securing employment that matches or exceeds the area's $43,626 median income to ensure genuine affordability.
Affordability Calculator
See how your income compares to housing costs in Richmond County
Rent Burden
20.5%
of gross income
Max Housing (28% Rule)
$1,018
per month
Owner Cost Burden
19.9%
of gross income
You can likely afford the median home in Richmond County
Median home value is $120,800. Estimated monthly cost: $964 vs. your max of $1,018.
Rent Affordability Guide
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.