Richfield Ohio City Guide

Richfield’s population is nearly 3,650. The population density is reportedly 392.72 per square mile, which is higher than Ohio’s average of 257.90 per square mile and the U.S. average of 82.73 per square mile.

Around 50.45% of the population is female, which equals about 1,880 residents. Another 49.55% of the population is male, which translates to roughly 1,770 residents.

Less than 5% of residents are under 5 years old, and about 23% of residents are between 6-18. About 10% of Richfield’s population is between 25-34, while over 30% of the population is between 35-54. About 15% of residents are 65 and over.

Richfield’s population is 96.4% White. To compare, Ohio’s population is reportedly 81.5% White. Another 3% Richfield residents are biracial or multiracial, and less than 1% of residents are Asian or Black. Altogether, Richfield doesn’t appear very ethnically diverse.

3.2% of residents were born outside of the U.S. Over 25% of the population is German, about 15% of residents are Irish, and another 15% of residents have Polish ancestry.

Almost 95% of Richfield’s population only speak English. Around 2% of residents speak German or another West Germanic language. Roughly 1% of Richfield residents speak Spanish, and another 1% of residents speak another Indo-European language.

Richfield contains 1 public elementary school and 1 high school. Although there isn’t a middle school within Richfield’s borders, there are middle schools located just outside of the township’s borders. There are also multiple early childhood education campuses in Richfield.

Out of Richfield’s population that is over 25 years old, 95.1% are high school graduates. 18.6% of the township’s population has received some level of a college education, and another 13.5% of residents have earned an associate’s degree.

From there, 24.6% of Richfield’s population has earned a bachelor’s degree. Another 14.8% of residents have a graduate degree or hold another professional degree.

The median property value in Richfield is $310K, and the village’s property values range widely.

27% of real estate is priced between $108K-$216K. 23.2% varies between $216K-$324K. 14.8% of properties are worth between $324K-$432K, while 10.2% range from $432K-$540K. From there, 14.5% range from $540K-$811, and 9% vary at an upwards of $811K.

As for appreciation rates, Richfield’s numbers typically tracked under the national average between 2009 and 2019. During this time, the average property appreciation rate was 0.72%, which is a percentage well under 70% of other United States neighborhoods. Specifically between November 2018 and November 2019, the appreciation rate was under comparable rates. During this time, the appreciation rate was -1.34%.

Comparing Ohio trends, Richfield’s appreciation rate is under 90% of the state’s cities and towns. Recent trends show that appreciation rates may rise to 1.37%, which annualizes at a rate of 5.60%.

Out of about 1,394 housing options, 87.7% are owner-occupied properties, while 12.3% are rented. Additionally, 1.8% of residences stand vacant.

Specifically, 14% of housing options were built in 2000 or later years, while 28% of properties were constructed between 1970-1999. 40% of residences were constructed between 1940-1969, and 18% of properties were built in or before 1939.

87.2% of properties, by far the majority, are single family type residences. Meanwhile, 8.1% of options are condominiums, and about 4% are apartment buildings.

To give an idea of size, 47.6% of properties have 3 bedrooms, and 31.3% have 4 bedrooms. When considering that 5.2% of housing options have 5 or more bedrooms as well, it’s easy to see how housing prices vary upwards. On the other side of the spectrum, 13% of residences have 2 bedrooms, and just 2.8% of properties have 1 bedroom layouts.

Richfield is largely considered affluent. The median household income is $77K, and the per capita income is around $43K. The average salary in Richfield is $84K.

About 4% of residents earn less than $15K per year, while almost 10% earn between $15K-$25K. Another 13.5% of residents make between $25K-$35K. About 14% of the population earns between $35K-$50K, while 7% make between $50K-$65K.

Another 11.5% of residents earn between $65K-$75K, while 15% of residents make $75K-$100K annually. Another 25% of the population earns over $100K per year.

For reference, the unemployment rate is 2.7%, and the overall poverty rate is 3.3%.