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Richmond, VT Profile: Facts & Data

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Richmond, Vermont - Basic Facts

The Richmond Census Designated Place had a population of 794 as of July 1, 2020.

The primary coordinate point for Richmond is located at latitude 44.4053 and longitude -72.9929 in Chittenden County. The formal boundaries for the Richmond Census Designated Place encompass a land area of 0.89 sq. miles and a water area of 0.06 sq. miles. Chittenden County is in the Eastern time zone (GMT -5). The elevation is 348 feet.

The Richmond Census Designated Place (GNIS ID: 2586651) has a U1 Census Class Code which indicates a census designated place with an official federally recognized name. It also has a Functional Status Code of "S" which identifies a statistical entity.

The Richmond Census Designated Place is located within Town of Richmond, a minor civil division (MCD) of Chittenden County.


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Richmond, VT Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 794 (100%)
Population in Households 794 (100.0%)
Population in Families 638 (80.4%)
Population in Group Quarters1 0
Population Density 895
Diversity Index2 13
 
 

INCOME

Median Household Income $77,927
Average Household Income $98,542
% of Income for Mortgage4 18%
Per Capita Income $39,388
Wealth Index5 118
 

HOUSING

Total HU (Housing Units) 355 (100%)
Owner Occupied HU 236 (66.5%)
Renter Occupied HU 97 (27.3%)
Vacant Housing Units 22 ( 6.2%)
Median Home Value $327,419
Average Home Value $322,034
Housing Affordability Index3 137
 

HOUSEHOLDS

Total Households 333
Average Household Size 2.38
Family Households 226
Average Family Size 3
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

GROWTH RATE / YEAR

 2010-2020 2020-2025
Population 0.92% 0.79%
Households 1.09% 0.89%
Families 1.87% 0.78%
Median Household Income   0.95%
Per Capita Income   1.64%
Owner Occupied HU   0.75%

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Richmond, VT - Peer Comparisons by Rank and Percentile

The table below compares Richmond to the other 121 incorporated cities, towns and CDPs in Vermont by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 49 60th
Population Density # 39 69th
Median Household Income # 6 96th
Housing Affordability Index # 53 44th
Per Capita Income # 13 90th
Diversity Index # 56 56th

Additional comparisons and rankings can be made with a VERY EASY TO USE Vermont Census Data Comparison Tool.

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