The story of this market
The typical home in Richland, Washington sells for about $498,670, or $240 per square foot.
Prices are up +7.2% from a year ago, so sellers still have some momentum. Homes take about 42 days to sell. HUD's fair market rent for a two-bedroom is $1,650 a month.
Monthly price momentum
Home values since 2015
-0.2%
WA · past 12 months
Freddie Mac House Price Index, single-family homes, monthly through 2026-08. Each line starts at 100 in January 2015, so a reading of 180 means prices are up 80% since then.
Richland, Washington
The Richland housing market remains resilient, characterized by steady price appreciation and a balanced inventory level. While rising interest rates have cooled the rapid pace of previous years, the city's strong economic foundation in research and energy continues to drive demand. Current figures show a healthy market with moderate days on market and consistent sales activity.
No ARED county foreclosure postings attributed to Richland yet — the verified ledger covers every county the foreclosure ingest has read, attributed by published city area. Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.
Deterministic aggregate of 2 researched ZIP reports — sales_count-weighted (population fallback); per point, children lacking the value or its weight are excluded. Tax rates, sentiment and context notes are tier-native and never roll.
Median prices moved up 10.7% year over year.
Homes spend a median of 56 days on market with 1.5 months of supply — a fast-moving market.
7% of listings have cut prices · homes sell at 46.19% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.2% · poverty 9.0% — a stable, low-distress profile.
The amenity base that shapes daily life and property demand in this city — what residents actually live with, and what the pipeline is adding.
The river provides extensive recreational opportunities including boating, fishing, and waterfront parks that define the city's lifestyle.
A popular hiking destination offering panoramic views of the Tri-Cities and significant open space for residents.
A major retail and dining hub that serves as a primary commercial anchor for the western part of the city.
A central riverfront park that hosts community events and provides essential green space for downtown residents.
Richland is an ideal fit for family buyers and professionals seeking a high quality of life, strong schools, and proximity to major research and energy employers. The city appeals to those who value outdoor recreation and a stable, suburban environment. It is less suited for those seeking a dense, urban lifestyle, but highly attractive to those prioritizing community safety and economic stability.
The Richland School District is highly regarded, consistently ranking among the top-performing districts in the region. Schools are characterized by strong academic programs and high graduation rates, which serve as a significant draw for families moving to the area. The district benefits from a high level of community engagement and support.
The city is served by a network of highways including I-182, which connects Richland to the broader Tri-Cities area. Public transit is provided by Ben Franklin Transit, offering bus services throughout the city. The commute profile is largely car-dependent, with most residents working within the Tri-Cities region.
Richland offers an extensive amenity base centered on the Columbia River, featuring miles of waterfront trails and parks like Howard Amon Park. The city is a gateway to regional wine country and provides access to Badger Mountain for hiking and outdoor recreation. Shopping and dining are concentrated in the Queensgate area, serving as a primary commercial hub for the community.
The rental market in Richland is characterized by steady demand driven by the influx of professionals working at the national laboratory and regional medical centers. Vacancy rates remain relatively low, and rent trajectories have shown consistent growth over the past several years. There is a notable presence of both long-term residential rentals and a smaller segment of short-term housing catering to visiting researchers and contractors.
Richland's economy is anchored by the Pacific Northwest National Laboratory and the Hanford Site, fostering a high-tech and research-oriented industry mix. The presence of major healthcare providers like Providence further stabilizes the local economy. Momentum remains strong due to continued federal and private investment in energy and science sectors.
Richland serves as a major hub for the energy and research sectors, anchored by the Pacific Northwest National Laboratory and the Hanford Site. The city is experiencing steady infrastructure investment and residential development, particularly in the northern and western sectors. This economic momentum is driven by a highly educated workforce and a growing tech-adjacent industry base.
Development is currently focused on expanding residential capacity in the northern and western reaches of the city to accommodate population growth. Major projects include new mixed-use developments near the Queensgate area and infrastructure upgrades to support increased traffic flow. The city maintains a proactive planning approach to manage its steady growth.
Parcels in Richland are subject to various special districts, including the Richland School District, local fire protection districts, and utility districts. These districts are responsible for specific service delivery and are funded through property tax levies. Residents should verify specific district assignments for individual parcels.
Richland generally maintains a lower crime rate compared to regional averages in the Tri-Cities area. Local law enforcement reports stable trends, though property crime remains the primary concern for residents. The city is widely considered one of the safer communities in Eastern Washington.
Richland faces moderate risks related to wildfire and wind, typical of the high-desert climate in the Columbia Basin. Flood risk is generally low due to the city's elevation and proximity to the Columbia River, which is managed by extensive dam systems. Residents are encouraged to maintain standard insurance coverage for wind and fire events.
Property insurance in Richland is generally stable, though premiums are influenced by regional wildfire risk assessments. The market remains competitive, with most major national carriers providing coverage. Homeowners are advised to review their policies for specific wind and fire coverage limits.
Property taxes in Richland are determined by the Benton County Assessor based on annual valuations, with rates set by local levies and state requirements. The city does not impose a local income tax, consistent with Washington state law. Special districts, including school and fire districts, contribute to the total millage rate applied to residential parcels.
Researched annual trajectory for this city, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 8.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this city's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Data retrieved from Census Reporter and U.S. Census Bureau QuickFacts.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment. Source: NCES EDGE public school locations 2023-24.