Richmond
At a median age of 51, Richmond's resident base is 11 years older than the national figure, a gap wide enough to shape everything from housing tenure to workforce participation. The suburb sits on 90.2 square kilometres with just 1,583 residents, giving a density of 17.5 per square kilometre, far below Australian urban averages. House prices reached $990,000 in 2025, up from $126,250 in 1996, a 684% gain over 29 years at a compound annual growth rate of 7.4%. Nearly 93.9% of dwellings are separate houses and 48.3% are owned outright, signalling a settled, asset-heavy community rather than a transient rental market.
Population
1,583
Median Age
51.0
Household IncomeiMedian weekly household income (ABS Census)
$1,496/wk
DAs (12 months)iDevelopment Applications lodged in the past year
0
Median House
$805K
YTD 2026
The median house price hit $990,000 in 2025, continuing a run that saw prices at $923,500 in 2023 and $965,500 in 2024. At a mortgage-to-income ratio of 24.7%, Richmond sits below the 30% stress threshold despite the elevated median, because the buyer pool tends toward established, higher-income households. Separate houses dominate at 93.9% of stock, so detached-home buyers face limited competition from apartments. The largest bedroom bracket is 3-bedroom at 45.2%, with 4-plus at 33.3%, making the suburb well suited to families and owner-occupiers seeking space. Monthly mortgage repayments average $1,600, considerably lower than equivalent price points in major cities because local incomes are supplemented by outright owners who skew the median upward.
For Buyers
The median house price hit $990,000 in 2025, continuing a run that saw prices at $923,500 in 2023 and $965,500 in 2024. At a mortgage-to-income ratio of 24.7%, Richmond sits below the 30% stress threshold despite the elevated median, because the buyer pool tends toward established, higher-income households. Separate houses dominate at 93.9% of stock, so detached-home buyers face limited competition from apartments. The largest bedroom bracket is 3-bedroom at 45.2%, with 4-plus at 33.3%, making the suburb well suited to families and owner-occupiers seeking space. Monthly mortgage repayments average $1,600, considerably lower than equivalent price points in major cities because local incomes are supplemented by outright owners who skew the median upward.
For Investors
Richmond's rental market is small rather than deep. Only 15.8% of dwellings are rented, compared to higher renter shares in most metropolitan suburbs, and the vacancy rate sits at 8.5%, suggesting supply currently exceeds tenant demand. Weekly rent averages $340. Rent-to-income is 22.7%, below the 30% stress level, meaning tenants are not under pressure to leave. On the other hand, only 0 development applications were lodged in the past 12 months, so new supply is not a near-term risk. Population turnover is low, with 79.2% of residents staying in the same address over the 5-year census period, which points to stable but thin demand for rental properties. Investors should weigh the 7.4% compound annual price growth since 1996 against the modest yield from $340 per week rent on a $990,000 asset.
Schools in Richmond iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Richmond Primary School
K-6 · 198 students
St John's Catholic School
Prep-6 · 291 students
Demographics
The median age of 51 is 11 years above the national figure, the most distinctive demographic fact in the brief. Average household size is 2.4, which is 0.1 below the national average, consistent with the couples-without-children profile, where 38.2% of families are couples with no kids. Overseas-born residents are 14.1%, which is 7.5 points below the national share, reflecting a strongly locally-born, Anglo-Celtic ancestry base, with English (810 residents), Scottish (195) and Irish (181) the top ancestries. University qualifications reach 32.3%, which is 2.2 points above the national figure. Volunteering is high at 20.2%, and only 5.7% of residents need daily assistance, both broadly consistent with an older, settled, lower-disadvantage community.
Age Distribution
Bedrooms
Dwelling Structure
93.9%
Houses
1.5%
Townhouse
N/A
Apartment
Tenure
Richmond's housing story is one of owner-occupier dominance and detached house scarcity. Outright owners account for 48.3% of dwellings, well above national averages, while mortgage holders are 36.0% and renters just 15.8%. Separate houses make up 93.9% of stock, with semi-detached at 1.5%. The 3-bedroom bracket leads at 45.2%, followed by 4-plus at 33.3%, and smaller 0-1 bedroom and 2-bedroom dwellings at 7.2% and 14.4% respectively. Prices grew from $126,250 in 1996 to $990,000 in 2025, a 684% appreciation at 7.4% compound annual growth. The vacancy rate of 8.5% is elevated compared to tighter suburban markets, reflecting the limited renter base and low population density across a 90.2 square kilometre area.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,600
Rent / wk
$340
HH Size
2.4
Personal Income / wk
$762
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
8.5%
Unoccupied
58
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
22.7%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
24.7%
Community Profile
Ancestry
Household Composition
38.2%
Couples, no children
1,263
Total families
Economy & Employment
Healthcare leads Richmond's employment at 14.6% of workers (76 people), followed closely by Education at 14.0% (73) and Construction at 13.7% (71). Public Admin accounts for 9.0% and Professional/Technical services for 8.5%. By occupation, Professionals (169) and Managers (150) are the top two groups, which is consistent with a workforce that holds university qualifications at 32.3%, above the national rate. The unemployment rate is 3.7%, below many comparable regional centres, and full-time employment reaches 59.9% of those employed. Participation rate of 55.4% reflects the older demographic profile, with 480 residents not in the labour force. Household income sits at the 46.7th percentile nationally, meaning Richmond earns slightly below the median household compared to the rest of Australia.
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
59.9%
Part-time
36.4%
Participation
55.4%
Employed
710
Occupations
Top Industries
University
32.3%
Postgraduate
7.1%
Born Overseas
14.1%
Dwellings
609
Transport to Work
Richmond is a car-dependent community, with 88.6% of workers driving to work, well above the national average, and only 1.7% using public transport, reflecting its low-density, semi-rural character spread across 90.2 square kilometres. Walking and cycling account for 5.2% of commutes. Crime data is not available in this dataset. The SEIFA IRSAD decile of 4 places Richmond below the national median on the index of relative socio-economic advantage and disadvantage, meaning the suburb ranks in the lower half compared to all Australian suburbs. The IEO decile of 4 also indicates below-median education and occupation standing relative to national benchmarks. No schools are recorded in the dataset. Mortgage stress at 24.7% and rent stress at 22.7% are both comfortably below the 30% threshold, which supports residential stability despite the below-median SEIFA position.
Drive
88.6%
Public Transport
1.7%
Walk / Cycle
5.2%
Work from Home
N/A
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Richmond compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Richmond a good suburb to live in?
Richmond suits owner-occupiers and retirees who value space, low population density (17.5 per km2) and ownership stability. With 48.3% of dwellings owned outright and mortgage stress at 24.7%, below the 30% threshold, the suburb is financially comfortable. The trade-off is below-median SEIFA scores (IRSAD decile 4 nationally) and limited public transport, with 88.6% of workers driving.
What is the median house price in Richmond?
The median house price reached $990,000 in 2025, up from $923,500 in 2023. Over 29 years since 1996, prices have grown at a compound annual rate of 7.4%, rising 684% from a 1996 trough of $126,250. Monthly mortgage repayments average $1,600 and weekly rent averages $340.
What schools are in Richmond?
No schools are recorded within Richmond's boundaries in this dataset. The suburb covers 90.2 square kilometres and has a population of 1,583, with 32.3% holding university qualifications, which is 2.2 points above the national figure. Families typically access schools in nearby towns.
Is Richmond safe?
Detailed crime statistics are not available for Richmond in this dataset. As a structural indicator, the suburb has a low unemployment rate of 3.7%, a stable resident base with 79.2% staying at the same address over 5 years, and only 5.7% of residents requiring daily assistance, all consistent with a settled, low-stress community.
Is Richmond good for property investment?
The 29-year compound annual growth rate of 7.4% is the headline investment case, with prices rising from $126,250 to $990,000. However, the rental market is thin, with only 15.8% of dwellings rented, weekly rent of $340, and a vacancy rate of 8.5%, which implies gross yields below 2% on the current median. Best suited to long-hold capital growth strategies.
How is Richmond's population changing?
No formal population forecast is available in the brief. The suburb has 1,583 residents with a median age of 51, which is 11 years above the national figure. The low turnover rate of 20.8% suggests a stable rather than fast-growing community. Structural aging is likely given the large share of residents above working age and the 38.2% couples-without-children household composition.
How to read these comparisons
Phrases like "above the national average" reference the unweighted median across Australian suburbs with more than 1,000 residents, not population-weighted national figures. Suburb-level medians are more useful for ranking suburbs against each other; ABS census headlines are population-weighted (so dominated by Sydney and Melbourne) and can read very differently.
Current baseline (refreshed 2026-05-10): median age 40, university-educated 30.1%, born overseas 21.6%, average household size 2.5 people.
Data sources: ABS 2021 Census (demographics, income, tenure), state Valuer-General (house prices), Department of Jobs SALM (unemployment), ACARA (school ICSEA), state Crime Statistics agencies (offences), council DA portals (development applications). Population forecasts use a Hamilton-Perry cohort model calibrated to ABS ERP.
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