Cost of Living in Richwood, TX

With a cost of living index of 91, Richwood, TX is slightly more affordable than average. Living here is 9% cheaper than the national average and 3% above the Texas state average of 88. Richwood is a small community of 4,766 residents.

Housing costs are the biggest factor in Richwood's cost of living. The median monthly rent is $1,215 (8% below the US median of $1,319), and the median home value sits at $230,800 (24% below the national median of $304,900). At current prices, the median home costs roughly 2.9x the median household income — well within traditional affordability guidelines.

The median household income in Richwood is $80,250, which is 7% higher than the national median of $75,149. Residents spend roughly 18% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Richwood. The area sees an average annual temperature of 70.7°F, with summers averaging 83°F and winters around 57°F. Annual rainfall totals 45.8 inches spread over roughly 129 days.

Everyday prices in the Houston-Pasadena-The Woodlands, TX (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.