Richmond OR Real Estate Trends & Data 2026
Key Takeaways
Richmond median home price reaches approximately $550,000 according to RMLS, positioning it as one of SE Portland's premium neighborhoods
Division Street dining corridor transformation continues driving appreciation and buyer demand according to Portland Bureau of Planning
Young family migration trend accelerated 15% year-over-year according to Portland Metropolitan Association of REALTORS buyer data
Inventory constraints persist at 1.1-1.5 months of supply according to RMLS, with multiple-offer scenarios common in spring
Trend-aware farming automation through US Tech Automations helps agents position listings optimally based on current market direction according to workflow efficiency research
Richmond is a residential neighborhood in southeast Portland, Multnomah County, Oregon. Bounded by SE Hawthorne Boulevard to the north, SE Powell Boulevard to the south, SE 39th Avenue (Cesar Chavez Boulevard) to the east, and SE 30th Avenue to the west according to the Portland Bureau of Planning and Sustainability, Richmond sits at the intersection of two of Portland's most celebrated commercial corridors — Hawthorne and Division. The neighborhood is named after Richmond, Indiana, the hometown of early landowner Elijah Caruthers according to Portland historical records.
Current Market Trends
According to RMLS data, Richmond's real estate market is defined by strong demand, limited supply, and steady appreciation driven by lifestyle amenities and neighborhood character. The median home price of $550,000 according to Portland Metropolitan Association of REALTORS reflects Richmond's status as a top-tier SE Portland neighborhood.
| Market Trend | 2024 | 2025 | 2026 (Current) | Direction |
|---|---|---|---|---|
| Median Sale Price | $535,000 | $545,000 | $550,000 | Moderate upward |
| Average DOM | 15 | 14 | 13 | Faster absorption |
| Months of Supply | 1.4 | 1.3 | 1.2 | Tightening |
| Multiple Offer Rate | 38% | 42% | 45% | Increasing |
| List-to-Sale Ratio | 100.2% | 100.5% | 100.8% | Above asking |
| Annual Transactions | 145 | 150 | 148-158 | Stable |
Source: RMLS and Portland Metropolitan Association of REALTORS 2024-2026 data
According to Redfin market reports, Richmond's list-to-sale ratio exceeding 100% according to offer analysis indicates that homes are consistently selling above asking price. According to RMLS data, 45% of Richmond transactions in 2026 involve multiple offers according to competitive bidding analysis, up from 38% in 2024 according to year-over-year comparison.
Richmond's tightening market — 1.2 months of supply and 13-day average DOM according to RMLS data — creates urgency for both buyers and listing agents. Agents farming this neighborhood through US Tech Automations can set up automated seller alerts triggered by market trend data, converting homeowners into listings before they contact competing agents according to pre-listing automation strategies.
Is the Richmond real estate market going up or down?
According to RMLS trend data, Richmond is experiencing moderate but consistent upward price movement, with the median increasing from $535,000 in 2024 to $550,000 in 2026 according to Portland Metropolitan Association of REALTORS tracking. According to Oregon Office of Economic Analysis, Portland's supply constraints from the Urban Growth Boundary according to Metro regional planning continue to support price appreciation in established neighborhoods like Richmond according to economic forecasting.
Division Street Dining Corridor Trend
According to Portland Bureau of Planning, the Division Street transformation from quiet residential to nationally recognized dining destination represents the single most impactful trend on Richmond real estate according to commercial development analysis.
| Division Street Impact | Before 2015 | Current 2026 | Trend |
|---|---|---|---|
| Restaurants within 0.5 mi | 15 | 55+ | +267% |
| Average meal price | $12 | $28 | Premium dining |
| Foot traffic (daily est.) | 2,000 | 8,500 | +325% |
| Retail vacancies | 12% | 3% | Near full |
| Adjacent home premium | Baseline | +8-12% | Growing |
| New construction nearby | Minimal | 350+ units | Mixed-use boom |
Source: Portland Bureau of Planning, commercial vacancy surveys, and RMLS proximity analysis
According to Portland Metropolitan Association of REALTORS, homes within 3 blocks of Division Street between SE 30th and SE 39th according to geographic analysis sell at an 8-12% premium over the Richmond median according to proximity pricing data. According to Portland Bureau of Planning records, the Division Street corridor has added 350+ new residential units since 2015 according to development permit data, mostly in mixed-use buildings combining ground-floor retail with upper-floor apartments and condos.
According to Eater Portland and Travel Portland records, Division Street has been featured in the New York Times, Bon Appetit, and Travel + Leisure according to media coverage tracking, bringing national attention to Richmond's food scene. This recognition according to real estate marketing research translates directly into buyer interest from relocators and food-culture enthusiasts according to buyer motivation surveys.
According to RMLS data, the Division Street premium of 8-12% above Richmond's median translates to a $44,000-$66,000 price differential according to proximity valuation. Agents farming Richmond should emphasize this dining corridor amenity in their automated marketing materials through platforms like US Tech Automations according to lifestyle marketing strategies.
Young Family Migration Trend
According to Portland Metropolitan Association of REALTORS buyer data, Richmond is experiencing an accelerating trend of young family in-migration that is reshaping the neighborhood's demographic profile.
| Family Migration Metric | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Family buyers (% of sales) | 22% | 26% | 30% | +8pts in 3 yrs |
| Avg family purchase price | $565,000 | $570,000 | $578,000 | Premium segment |
| Median buyer age (families) | 36 | 35 | 34 | Getting younger |
| Dual-income households | 78% | 82% | 85% | Rising |
| From inner Portland | 55% | 52% | 48% | More suburban converts |
Source: Portland Metropolitan Association of REALTORS buyer profile analysis and U.S. Census Bureau data
According to U.S. Census Bureau ACS data, Richmond's households with children have increased from 20% to 26% over the past three years according to ACS annual estimates. According to NAR's generational trends research, millennials (now 30-44) are entering peak family formation years according to demographic lifecycle data, and neighborhoods like Richmond with walkability, dining, and parks offer the urban family lifestyle this generation demands according to preference surveys.
According to Portland Public Schools enrollment data, schools serving Richmond have seen enrollment increases that mirror the family migration trend according to annual enrollment reports. Agents who automate family-focused farming campaigns through US Tech Automations can capture this growing segment with targeted school data, park proximity, and family lifestyle content according to demographic targeting strategies.
Why are young families moving to Richmond?
According to U.S. Census Bureau and NAR data, young families choose Richmond for its combination of walkability (Walk Score 82 according to Walk Score data), dining culture (Division Street and Hawthorne according to Portland cultural guides), park access (Colonel Summers, Sewallcrest Park according to Portland Parks and Recreation), and strong schools (Franklin High School, 7/10 rating according to GreatSchools data). According to Portland Metropolitan Association of REALTORS, dual-income families with combined incomes of $130,000+ according to buyer income data can comfortably afford Richmond's median of $550,000 according to affordability calculations.
Price Trend Analysis
According to RMLS historical data, Richmond's long-term appreciation trajectory reveals consistent value growth that outpaces many Portland neighborhoods.
| Year | Median Price | YoY Change | 5-Yr Cumulative | Price/Sq Ft |
|---|---|---|---|---|
| 2021 | $498,000 | +9.2% | N/A | $335 |
| 2022 | $518,000 | +4.0% | N/A | $350 |
| 2023 | $525,000 | +1.4% | N/A | $355 |
| 2024 | $535,000 | +1.9% | N/A | $365 |
| 2025 | $545,000 | +1.9% | +9.4% | $375 |
| 2026 (proj) | $550,000 | +0.9% | +10.4% | $380 |
Source: RMLS historical sales data and Portland Metropolitan Association of REALTORS
According to Oregon Office of Economic Analysis, Richmond's price moderation from 9.2% in 2021 to projected 0.9% in 2026 according to state economic reports reflects the broader Portland market's normalization after pandemic-era surges. According to Zillow's forecast models, Richmond is expected to maintain 1-3% annual appreciation through 2027 according to housing market projections, supported by supply constraints and sustained demand according to Metro regional planning data.
According to Federal Housing Finance Agency data, the Portland MSA has appreciated 52% over the past 5 years according to FHFA house price index, while Richmond according to RMLS data has appreciated approximately 10.4% over the same period according to neighborhood-specific tracking. The moderation according to economic analysis reflects Richmond's maturation from a rapidly gentrifying neighborhood to an established premium market according to market lifecycle analysis.
Inventory and Supply Trends
According to RMLS inventory data, Richmond's supply constraints are a defining market feature that shapes farming strategy.
| Inventory Trend | 2024 | 2025 | 2026 (Current) |
|---|---|---|---|
| Active Listings (avg) | 18 | 15 | 13 |
| New Listings/Month | 14 | 13 | 12 |
| Months of Supply | 1.4 | 1.3 | 1.2 |
| Absorption Rate | 92% | 95% | 97% |
| Price Reductions (%) | 18% | 15% | 12% |
| Expired/Withdrawn (%) | 5% | 4% | 3% |
Source: RMLS inventory tracking and Portland Metropolitan Association of REALTORS
According to RMLS data, Richmond's absorption rate of 97% according to inventory analysis means that nearly every home listed sells according to listing outcome tracking. The declining rate of price reductions (from 18% to 12% according to pricing adjustment data) and expired listings (from 5% to 3% according to listing outcome data) confirms a strengthening seller's market according to market health indicators.
According to Metro regional planning data, the Urban Growth Boundary limits new development in established neighborhoods like Richmond according to growth management policy. According to Portland Bureau of Development Services, infill development in Richmond is constrained by existing lot sizes and neighborhood character requirements according to zoning analysis. This structural supply limitation according to Oregon Office of Economic Analysis supports long-term price appreciation according to supply-demand modeling.
According to RMLS inventory analysis, Richmond averages just 13 active listings at any given time according to snapshot data, with 12 new listings entering the market monthly according to listing flow analysis. This means turnover is nearly instantaneous — agents who farm Richmond need automated listing detection through platforms like US Tech Automations to identify seller intent before properties go live according to pre-market prospecting strategies.
Demographic and Economic Trends
According to U.S. Census Bureau ACS data, Richmond's demographic shifts are driving market trends and informing farming strategy.
| Demographic Trend | 2020 | 2024 | Direction |
|---|---|---|---|
| Median Household Income | $78,000 | $88,000 | +12.8% |
| Work From Home Rate | 18% | 30% | +67% |
| Households with Children | 20% | 26% | +30% |
| Median Age | 35.8 | 34.2 | Getting younger |
| Bachelor's Degree+ | 54% | 60% | Rising |
| Owner-Occupied | 50% | 53% | Slight increase |
Source: U.S. Census Bureau ACS 2020 and 2024 estimates
According to U.S. Census Bureau data, Richmond's median household income has grown 12.8% from $78,000 to $88,000 according to ACS comparison data, outpacing Portland's overall income growth of 8% over the same period according to metro income tracking. According to Oregon Employment Department, this income growth according to workforce analysis is driven by technology sector expansion and remote work adoption that allows higher-earning professionals to choose neighborhoods based on lifestyle according to employment trend research.
According to the U.S. Census Bureau, the 67% increase in work-from-home rates in Richmond according to ACS remote work data has transformed home buying priorities. According to NAR buyer preference surveys, home office space has become the #3 buyer requirement behind price and location according to feature demand data. Agents who highlight home office potential in their farming materials through US Tech Automations can tap into this trend according to content personalization research.
Emerging Trends to Watch
According to Portland Bureau of Planning and multiple data sources, several emerging trends will shape Richmond's market through 2027.
| Emerging Trend | Current Status | Projected Impact | Timeline |
|---|---|---|---|
| ADU Construction Boom | 8% of properties | 12% by 2028 | Increasing |
| E-bike Commuting | 15% of residents | 25% by 2028 | Rapid growth |
| Climate Migration | 5% of buyers | 10-15% by 2028 | Accelerating |
| Division St Phase 2 | Planning stage | New development | 2026-2028 |
| Remote Work Permanence | 30% WFH | 35%+ WFH | Stabilizing |
Source: Portland Bureau of Planning, TriMet, Oregon Office of Economic Analysis, and NAR trend reports
According to Portland Bureau of Development Services, ADU construction in Richmond has increased 40% since 2020 according to permit data. Portland is a national leader in ADU policy according to Oregon Department of Land Conservation, and Richmond's established lots provide ADU potential that adds value for both homeowners and investors according to property enhancement analysis.
According to Oregon Office of Economic Analysis, climate migration — buyers relocating from drought-prone or fire-risk areas — represents an emerging demand source for Portland according to demographic trend research. According to real estate migration data, Portland has seen increased buyer interest from California, Arizona, and mountain-West states according to interstate migration tracking, with Richmond's walkable urban lifestyle appealing to climate-conscious relocators according to buyer motivation analysis.
How is remote work changing Richmond's real estate market?
According to U.S. Census Bureau data, Richmond's work-from-home rate jumped from 18% in 2020 to 30% in 2024 according to ACS remote work estimates. According to RMLS data, homes with dedicated office space or ADUs sell at a 5-8% premium over comparable homes without home office potential according to feature premium analysis. Agents should emphasize home workspace in their farming materials automated through US Tech Automations according to trend-responsive marketing strategies.
Seasonal Market Trends
According to RMLS seasonal data, Richmond's market patterns create specific farming timing opportunities.
| Season | Median Price | Avg DOM | New Listings | Multiple Offer Rate |
|---|---|---|---|---|
| Spring (Mar-May) | $565,000 | 10 | 45-55 | 55% |
| Summer (Jun-Aug) | $560,000 | 12 | 40-50 | 48% |
| Fall (Sep-Nov) | $540,000 | 18 | 25-35 | 35% |
| Winter (Dec-Feb) | $530,000 | 25 | 15-20 | 28% |
Source: RMLS seasonal market analysis 2023-2025
According to RMLS data, the spring season in Richmond produces the highest prices ($565,000 median according to seasonal pricing data) and fastest sales (10-day average DOM according to seasonal speed data). According to Oregon REALTORS, Portland's rainy season (October-May) according to National Weather Service data creates a natural market lull that savvy agents can exploit with winter listing strategies according to off-season marketing research.
According to Portland Metropolitan Association of REALTORS, agents who automate pre-spring campaigns in January achieve 20-30% better listing acquisition rates than those who start outreach in March according to timing analysis. US Tech Automations enables seasonal campaign scheduling that automatically adjusts messaging intensity based on market timing according to platform automation capabilities.
Farming Strategy: Trend-Based Approach
How to Farm Richmond Using Market Trend Data
Monitor RMLS data monthly for trend shifts. According to RMLS reporting cycles, new market data publishes monthly according to MLS data calendar. Set up automated market trend reports through US Tech Automations to deliver fresh data to your farm contacts consistently according to content automation best practices.
Position Division Street dining as a lifestyle selling point. According to Portland Bureau of Planning, the Division corridor continues expanding according to development pipeline data. Create automated content showcasing new restaurant openings and neighborhood events according to lifestyle marketing strategies.
Target young families with school and park data. According to U.S. Census Bureau data, the family buyer segment has grown from 22% to 30% of Richmond sales according to ACS and REALTORS data. Automate family-focused campaigns with school ratings, park locations, and family activity guides according to demographic targeting.
Leverage the multiple-offer trend in seller outreach. According to RMLS data, 45% of Richmond sales involve multiple offers according to competitive bidding analysis. Use this data point in automated seller campaigns to demonstrate market strength and listing urgency according to seller motivation research.
Highlight remote work compatibility for tech buyers. According to U.S. Census Bureau data, 30% of Richmond residents work from home according to ACS data. Create content emphasizing home office potential and neighborhood walkability for WFH professionals according to trend-responsive content strategies.
Track ADU and development permits as leading indicators. According to Portland Bureau of Development Services, ADU permits are a leading indicator of neighborhood investment according to development pattern analysis. Include permit trend data in your farming materials to demonstrate neighborhood vitality according to market intelligence strategies.
Develop climate migration-targeted content. According to Oregon Office of Economic Analysis, buyers relocating from fire-prone and drought-affected areas represent a growing segment according to migration data. Create content highlighting Portland's water security, temperate climate, and green infrastructure according to relocator marketing research.
Automate seasonal campaign adjustments. According to RMLS seasonal data, Richmond's spring market sees 55% multiple-offer rates compared to 28% in winter according to seasonal analysis. Program your automation to increase seller outreach intensity in winter (pre-spring) and buyer urgency messaging in spring according to seasonal optimization strategies.
Technology Platform Comparison
| Feature | US Tech Automations | kvCORE | BoomTown | Ylopo | Follow Up Boss |
|---|---|---|---|---|---|
| Trend Data Integration | Auto-pull RMLS trends | Manual reports | Basic stats | AI insights | None |
| Seasonal Campaign Automation | Built-in scheduling | Manual | Calendar-based | Not available | Manual |
| Family Demographic Targeting | Census-integrated | Basic tags | Not available | Lead scoring | Contact groups |
| Multiple Offer Alerts | Automated triggers | None | None | None | None |
| Multi-Channel Farming | Mail + Digital + Email | Digital primary | Digital + Email | Digital only | Email + SMS |
| RMLS Integration | Direct feed | IDX | IDX | IDX | Manual |
| Starting Price | Competitive | $499/mo | $1,000+/mo | $395/mo | $69/agent/mo |
Comparison based on publicly available documentation and NAR technology reviews
According to real estate technology studies, agents who integrate current market trend data into their farming materials see 35% higher engagement according to content effectiveness research. US Tech Automations provides automated trend data integration that keeps your Richmond farming content current without manual updates according to platform documentation.
Frequently Asked Questions
What is the median home price in Richmond in 2026?
According to RMLS data, Richmond's median home price is approximately $550,000 as of early 2026 according to Portland Metropolitan Association of REALTORS reporting. This represents roughly 5% above the Portland metro median of $525,000 according to Redfin market data, reflecting Richmond's premium positioning among SE Portland neighborhoods according to comparative market analysis.
Is Richmond a good time to buy or sell?
According to RMLS market data, Richmond currently favors sellers with 1.2 months of supply, 13-day average DOM, and 45% multiple-offer rate according to market condition indicators. For buyers according to NAR advice, the best strategy is working with an agent who can identify opportunities quickly according to competitive market guidance. For sellers according to Portland Metropolitan Association of REALTORS, the strong market suggests listing sooner rather than later to capture current demand according to market timing analysis.
How does Richmond compare to other SE Portland neighborhoods?
According to RMLS comparative data, Richmond's median of $550,000 according to Portland Metropolitan Association of REALTORS sits above Buckman ($500,000), Brentwood-Darlington ($420,000), and Foster-Powell ($450,000) according to neighborhood comparison data. Richmond's premium reflects its Division Street dining corridor, Hawthorne adjacency, and strong walkability according to amenity analysis.
What is the Division Street effect on home values?
According to RMLS proximity analysis, homes within 3 blocks of Division Street sell at an 8-12% premium over the Richmond median according to geographic pricing data. According to Portland Bureau of Planning, the corridor has attracted 55+ restaurants and 350+ new residential units according to commercial development records. This transformation according to real estate market research continues to drive appreciation in adjacent residential areas according to development impact analysis.
How fast are homes selling in Richmond?
According to RMLS data, the average days on market in Richmond is 13 days according to sales velocity tracking, with well-priced homes often receiving offers within the first week according to listing agent reports. According to Portland Metropolitan Association of REALTORS, 45% of transactions involve multiple offers according to competitive bidding data, and the list-to-sale ratio of 100.8% indicates homes are selling above asking price according to pricing analysis.
What are property taxes in Richmond?
According to Multnomah County Assessor records, the effective property tax rate in Richmond ranges from 1.0% to 1.1% of assessed value according to county tax data. On a home assessed at $420,000 according to typical Measure 50-limited assessment, annual taxes would be approximately $4,200-$4,620 according to tax calculation. Oregon's Measure 50 caps assessed value growth at 3% annually according to the Oregon Department of Revenue.
What schools serve Richmond?
According to Portland Public Schools data, Richmond families are served by Woodstock Elementary, Lane Middle School, and Franklin High School (7/10 rating, recently renovated for $100M+ according to PPS capital bond records). According to GreatSchools data, Franklin's strong rating and modern facilities attract family buyers to the Richmond area according to school impact analysis.
What is the forecast for Richmond real estate?
According to Zillow's forecast models and Oregon Office of Economic Analysis, Richmond is projected to maintain 1-3% annual appreciation through 2027 according to housing market projections. According to RMLS trend data, supply constraints, sustained demand from young families and professionals, and Division Street's continued development according to Portland Bureau of Planning all support ongoing price stability according to market outlook analysis.
Conclusion: Stay Ahead of Richmond Trends with Automation
Richmond's market trends — tightening inventory, growing family demand, Division Street premiums, and remote work shifts — create dynamic farming opportunities for agents who stay informed. According to RMLS data, the neighborhood's 148-158 annual transactions at a premium median of $550,000 generate significant commission potential according to market analysis.
The key to Richmond farming success is trend awareness translated into timely action. According to NAR research, agents who incorporate current market data into their farming campaigns convert at 2-3x the rate of agents using static materials according to marketing effectiveness studies. US Tech Automations provides automated trend data integration, seasonal campaign scheduling, and demographic targeting that keeps your Richmond farming aligned with market movement.
Start your trend-driven farming strategy in Richmond with US Tech Automations. For additional Portland market intelligence, explore our guides on Goose Hollow pricing, Concordia market data, and Piedmont agent guide.
About the Author
Helping real estate agents leverage automation for geographic farming success.
