Foreclosures in Richfield, MN

Home Value Estimator For Richfield, MN

There are currently 9,576 real estate properties in Richfield, MN, with a median automated valuation model (AVM) price of $338,600.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Richfield, MN, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Richfield, MN, is $342,183.00, with the most expensive house in Richfield, MN, topping out at $2,395,300.00 and the cheapest home in Richfield, MN, clocking in at $99,400.00. In other words, there’s something for every potential homebuyer or savvy investor in Richfield, MN!

Rent Prices In Richfield, MN

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Richfield, MN, is on a rollercoaster ride. The average rent price in Richfield, MN, is $1,560.00. Indeed, when looking to rent in Richfield, MN, you can expect to pay as little as $1,160.00 or as much as $2,000.00, with the average rent median estimated to be $1,570.00. The good news is that finding an affordable and desirable property to rent in Richfield, MN -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Foreclosure Homes in Richfield, MN

Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Richfield, MN area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Richfield, MN and much more. Save thousands at closing with home foreclosure listings in Richfield, MN — up to 75% off market value!

Top Reasons To Live In Richfield, MN In 2023

Richfield is located in Hennepin, Minnesota, with an estimated municipal population of 36,354 residents. All of the best foreclosed homes for sale in Richfield are located in the following zip code areas on Foreclosure.com: 55423. The estimated population per square kilometer (.62 miles) in Richfield is 2,088.

Cost Of Living In Richfield, MN

So, about how much do homes cost in Richfield? The most recent median value of resident-owned homes in Richfield is 225,394. An estimated 60.5 percent of households in Richfield own their homes, with an average family size of 3.1. The median household income in Richfield is 66,908, with30.8 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Richfield, the median commute time of resident workers (in minutes) is 22.1. And last, but certainly not least, are you looking for homes to rent in Richfield? If so, the average rent price paid by renters in Richfield is 1,079, according to recent statistics.

Diversity And Demographics In Richfield, Minnesota

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Richfield, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Richfield is 35.7, split between 50.2 percent male versus 49.8 female. The percentage of residents who report being married in Richfield is 45.8, with an average family size of 3.1.

The percentage of residents who report their race in Richfield is as follows:

Looking for family-friendly neighborhoods in and/or near Richfield? Or maybe you are searching for 55+ active adult communities in and/or near Richfield?

The percentage of residents who report their age in Richfield is as follows:

Best Schools In Richfield, Minnesota

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Richfield with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Richfield.

Pros And Cons Of Living In Richfield, Minnesota

How do you know that living in -- or moving to -- Richfield is right where you need to be? Perhaps you grew up in Richfield or already live nearby; therefore, the decision to buy a home in Richfield is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Richfield for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Richfield:

• What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
• What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
• What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
• What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Richfield.

Reasons To Move To Richfield, Minnesota, In 2023

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Richfield can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Richfield, meanwhile, can field multiple offers from more qualified buyers.