Cost Of Living
Taking into account the cost of goods and services like housing, groceries, transportation and utilities, the overall cost of living in this area is well below average.
Crime
Crime per 100,000 people is significantly lower than the national average, making it a safe place to live. These crime statistics include both violent and property crimes.
Employment
Higher than average median household income, income per capita and lower unemployment rates are seen in this area. The result is a high score in the employment category.
Housing
High scores in the housing category are a distinguishing feature of this area, possibly driven by a favorable home affordability ratio, higher home values and appreciation rates.
Ratings
Based on recent surveys and polls, locals gave high marks in the walkability to local amenities, safety, public transit, friendliness of neighbors and overall sense of community in the area.
Amenities
The majority of amenities are not ideally located within walking distance. To access these amenities, residents may be required to rely on a vehicle or public transit.
Commute
A low commute score could be due to longer-than-average work commutes and the limited availability of public transportation in this area.
Richwood is a smaller city located in the state of Texas. The city has a population of 3,949 people. According to the most recent Census, 79% of Richwood residents are White, 5% Black and 0% Asian. Additionally, more than a quarter of the population of Richwood are of Hispanic or Latino origin, and 34% of the population also speak Spanish. The median age of all Richwood residents is 31, which is well below the national average. This is a good indication that this city could be ideal for a younger demographic. Long travel times to work can be one of the most frustrating things in the world - right behind housework! If you decide that living in Richwood is the right fit for you, your one way commute time will average 24 minutes, which is about average when compared to the national commute time of 26 minutes.
Without the right tools, relocating to any new area can be very stressful and challenging. Living in Richwood, Texas could be a positive experience for anyone who puts in the time to do the research required. When searching for a new neighborhood, several key items should be considered. Safety is paramount, ensuring a secure environment for you and your family. Proximity to workplaces or schools reduces commuting time and enhances convenience. Access to amenities like parks, grocery stores and healthcare facilities contributes to a comfortable lifestyle. Reliable public transportation options promote easy mobility. A strong sense of community fosters social connections and a welcoming atmosphere. Using the livability score which includes data from categories like cost of living, health & safety, education, employment, housing, you can easily compare the best places to live in Richwood and also determine if there are any nearby cities that might be a better match for your lifestyle. You can also compare Richwood to Texas and the national average.
The livability score in Richwood is 74 out of 100 and the city is ranked in the 86th percentile of all cities across America. For each of the livability categories, we can establish that Richwood ranks very well for crime (B-), cost of living (A+), employment (B) and housing (A+). Unfortunately for Richwood, there are some categories for which it does not rank well, this includes: amenities (F).
Low violent crime rates (murder, rape, robbery, assault) provide a safer environment for residents, reducing the risk of personal harm, property theft or violence. Low crime can also lead to increased property values and desirability. With 127 crimes per 100,000 residents, Richwood has a violent crime rate that is far below the national average.
When contemplating a move, job prospects often top the list of priorities. In Richwood, the outlook for new employment is notably brighter than in many other areas. The low unemployment rate of 2.06% points to a surge in job opportunities, the potential for higher wages, enhanced workforce productivity and increased economic growth. These favorable conditions bode well for individuals seeking career advancement and financial stability, making this area an appealing destination for those prioritizing professional opportunities and economic prosperity.
Finding affordable real estate and housing in Richwood can be tricky. Having said that, this area might be the place to get the best of both worlds. Based on factors like home/rental affordability and appreciation rates, this area has received an above average score in the housing category. A healthy real estate market can lead to wealth appreciation for property owners, as rising property values can contribute to homeowners' equity, financial stability and the ability to build long-term wealth.
Richwood real estate prices and overall affordability will play a huge role in determining if the area is the right fit for you. Of course there are probably some other items on your “wish list”, but even before they are considered, let’s take a look at the home prices and affordability in Richwood. Median real estate prices in Richwood come in at $166,700, which is 16.8% higher than the Texas average. The home price to income ratio compares the median home prices to the median household income. In Richwood, the home price to income ratio is 2.5, which is 3.8% lower than the Texas average.
| Statistic | Richwood | Texas | National |
| Average one way commute | 24min | 26min | 26min |
| Workers who drive to work | 80.4% | 80.3% | 76.4% |
| Workers who carpool | 12.1% | 10.6% | 9.3% |
| Workers who take public transit | 0.0% | 1.5% | 5.1% |
| Workers who bicycle | 0.0% | 0.3% | 0.6% |
| Workers who walk | 0.5% | 1.6% | 2.8% |
| Working from home | 7.0% | 4.3% | 4.6% |
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