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Real Estate Prices & Overview

Richmond median real estate price is $742,365, which is more expensive than 81.2% of the neighborhoods in Oregon and 81.7% of the neighborhoods in the U.S.

The average rental price in Richmond is currently $2,906, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 90.7% of the neighborhoods in Oregon.

Richmond is an urban neighborhood (based on population density) located in Portland, Oregon.

Richmond real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Richmond neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Richmond are 5.6%, which is lower than one will find in 62.6% of American neighborhoods. Demand for real estate in Richmond is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Portland, the Richmond neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Of note is NeighborhoodScout's research finding that the Richmond neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Richmond community truly stands out from the rest in this regard.

In addition, with more than 1.7% of residents living with a same sex partner, Richmond is truly a neighborhood that stands out from the rest in this regard. In fact, exclusive analysis by NeighborhoodScout reveals that this neighborhood has a greater concentration of same sex couples than 95.6% of U.S. neighborhoods.

Also, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Richmond neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 95.1% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Richmond neighborhood.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 10.6% of residents in the Richmond neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 99.7% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Diversity

Did you know that the Richmond neighborhood has more Swiss and Danish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.9% of this neighborhood's residents have Swiss ancestry and 2.6% have Danish ancestry.

Richmond is also pretty special linguistically. Significantly, 4.6% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 98.9% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Richmond neighborhood in Portland are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 82.2% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Richmond neighborhood, 64.9% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 21.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (8.1%), and 5.2% in clerical, assistant, and tech support occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Richmond neighborhood is English, spoken by 93.1% of households. Other important languages spoken here include German/Yiddish and Polish.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Richmond neighborhood in Portland, OR, residents most commonly identify their ethnicity or ancestry as Irish (21.3%). There are also a number of people of German ancestry (15.1%), and residents who report English roots (14.4%), and some of the residents are also of Asian ancestry (8.7%), along with some Polish ancestry residents (5.4%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Richmond neighborhood spend between 15 and 30 minutes commuting one-way to work (45.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (48.3%) drive alone in a private automobile to get to work. In addition, quite a number also bicycle to get to work (10.6%) and 5.3% of residents also ride the bus for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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