California · San Francisco-Oakland-Fremont, CA metro area

Buying a home in Richmond, California

In Richmond, the median value of owner-occupied homes is $668,200, Contra Costa County's effective property tax rate is 0.83%, a purchase mortgage carried a median $8,605 in total loan costs in 2025, and median gross rent is $1,960 a month.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Richmond home costs, fact by fact

About Richmond

HUD sets the county Fair Market Rent for a two-bedroom at $2,805, while median gross rent in Richmond is $1,960 a month.

Reading the Richmond figures

Richmond's $668,200 median value is below California's $770,700, and it sits under a county that reads much higher. Contra Costa County's median is $866,800, which makes the city the lower-priced side of its own county, so county tax figures should be treated as a ceiling rather than an expectation. Santa Rosa lists $713,900 on the covered roster, with Santa Ana a hair behind at $713,000. Corona trails them by a little, at $700,700. Roseville is the closest neighbour beneath Richmond, at $661,400. Salinas steps down to $654,100 and Oxnard to $652,700. Murrieta, the lowest city on that stretch of the list, shows $639,800.

Rent adds a twist. Richmond's $1,960 a month tops Los Angeles, where it is $1,933, and El Cajon, where it is $1,856. East Los Angeles, at $1,494, is far lower. Salinas asks $1,991 for rent and Oxnard $2,032, so both exceed Richmond, as does Roseville at $2,142. Temecula goes to $2,347 and Tracy to $2,478. Richmond has 54.7% owner-occupied households, level with Oxnard (54.4%) and Santa Rosa (56.7%). Fewer owners live in Salinas (47%) or Santa Ana (44.6%), and fewer still in El Cajon (41.5%). Roseville is the reference neighbour: it values homes slightly lower, at $661,400, but rents for more, at $2,142, and has a higher owner share, 68.8%. Santa Rosa is the reverse case, with a higher value ($713,900), a higher rent ($2,152) and a similar owner share (56.7%). Corona reaches 63.8%, Roseville 68.8%, Murrieta 69.5%, which shows how much more owner-heavy those cities are.

Contra Costa County taxes at an effective 0.83%; the median bill, $7,156, rests on a median value of $866,800. A Richmond home valued lower than that would likely carry a smaller bill, so apply the rate to your own price. The percentage matters as much as the dollar amount. Treat the county rate and the city value as separate inputs.

Loan costs look modest by comparison. County lenders charged a median $8,605 in 2025 on 7,395 loans, with quartile marks at $6,435 and $14,789. The lower end of that range sits close to the median, which suggests that many borrowers pay similar amounts while some pay notably more. HUD's rent benchmark for Oakland-Fremont reaches $2,805 for a smaller home and $3,592 for a larger one. These are benchmarks rather than medians, yet both are well above the city's median rent.

Richmond's profile is mixed. Its value sits between Roseville's and Corona's, its rent is near Los Angeles, and its owner share is near Oxnard's. What sets it apart is the county: Contra Costa County's higher median value and 0.83% rate push the tax figure up. Richmond counts 115,353 residents. Its metro area, San Francisco-Oakland-Fremont, has 4,648,486 people and the 13th national rank.

Calculate for California

If you buy

California state transfer tax

California has no state transfer tax; counties and cities may charge one.

Price$770,700
State transfer taxnot computed
Who paysSet by the purchase contract

Default price: the California median value of owner-occupied homes, $770,700 (Census ACS 2025). Not computed: No state tax. The tax is set by county and city, so it cannot be computed from the state alone. Who pays: Neither the state statute nor the City of Los Angeles FAQ assigns the tax; the purchase contract and escrow instructions decide. Not included: county and city transfer taxes, recording fees, title insurance and lender charges. California transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: California state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in Richmond

How much is property tax in Richmond?

Homeowners in Contra Costa County pay a median $7,156 a year in property tax, 0.83% of the county median home value of $866,800 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Richmond?

Home-purchase mortgages in Contra Costa County carried median total loan costs of $8,605 in 2025; half of the 7,395 loans fell between $6,435 and $14,789 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Richmond?

California has no state transfer tax. Counties may charge $0.55 per $500 of value under the Documentary Transfer Tax Act, and cities such as Los Angeles add their own, with Measure ULA adding 4% or 5.5% on very high-priced sales.

Is it cheaper to rent or buy in Richmond?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Richmond ($668,200) equals 28.4 years of the median gross rent ($1,960 a month), both from Census ACS 2020-2024.

What natural hazards affect home insurance in Richmond?

Across California, the main hazards for home insurance are earthquake, wildfire, flood and landslide, and the insurer of last resort is California FAIR Plan. A standard California homeowners policy does not cover earthquake damage; insurers must offer earthquake coverage (Insurance Code 10081), and the FAIR Plan sells limited fire coverage up to $3 million for residential policyholders.

Run your own numbers: rent vs buy calculator · closing costs calculator.

California rules that apply in Richmond

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Sources

California · All states · Federal guides