Is Richmond, MI a good place to invest in rental property?

Richmond, MI has a median modeled monthly cash flow of $-1,161 and a median cap rate of 1.8%, on a median sold price of $259,000. Prices changed +7.1% year over year.

What is the average cap rate in Richmond, MI?

The median cap rate across recently sold homes in Richmond, MI is 1.8%, based on CashFlowRE's rent and expense modeling.

What is the median home price in Richmond, MI?

The median sold price in Richmond, MI is $259,000 (about $158 per square foot).

Investing in Richmond, MI Real Estate

A data-driven snapshot of the Richmond, MI rental-property market, built from recently sold homes and CashFlowRE's per-listing investment modeling — median price, cap rate, monthly cash flow, appreciation and inventory — so you can judge the market before you ever open a listing.

$259,000Median sold price

$158Median $/sqft

1.8%Median cap rate

$-1,161Modeled cash flow / mo

+7.1%Appreciation YoY

8.7Months of supply

129Active listings

178Sold (last 12 mo)

What the Richmond numbers say

In Richmond, MI, the median home sold for $259,000 (about $158 per square foot), and the typical deal models out to a 1.8% cap rate with a median $-1,161 of monthly cash flow. Sold prices moved +7.1% over the past year. Inventory sits at about 8.7 months of supply — a looser, buyer-friendly market. These are medians across recorded sales; individual properties vary widely, which is exactly what CashFlowRE scores listing by listing.

Other Michigan markets to compare

See Richmond cash-flowing listings

CashFlowRE ranks every for-sale home in Richmond, MI by cap rate, cash-on-cash return, DSCR and monthly cash flow — so the best rental deals rise to the top. Create a free account to screen Richmond deals, or browse the national market data.