A Home Buyer’s Guide to the City of Richmond, California

This guide is part of an ongoing series that explores San Francisco Bay Area cities from a home buying perspective. Our goal is to educate buyers about the different real estate markets across the Bay Area.

Today, we turn our attention to Richmond, California, a city of around 114,000 residents located in the East Bay. This guide offers important information you should know if you’re thinking about buying a home in Richmond.

• Richmond is relatively affordable by Bay Area standards, with a median home value well below the norm.
• Home prices have been mostly flat over the past year with only modest gains predicted for 2025.
• Supply levels have improved a bit over the past two years, but they remain low from a historical standpoint.
• This housing market can be highly competitive at times, with some homes selling within two weeks.
• Overall, the Richmond real estate market still favors sellers over buyers, largely due to low inventory.

Richmond, California at a Glance

Richmond, California, is located in the East Bay region of the San Francisco Bay Area. It sits on the eastern shore of the San Francisco Bay and offers views of the bay, the San Francisco skyline, and Mount Tamalpais.

Geographically, Richmond is north of Berkeley and Oakland and is part of Contra Costa County. The city boasts a significant amount of shoreline, including access to the Richmond-San Rafael Bridge, which connects the East Bay to Marin County.

Today, Richmond is experiencing a period of revitalization, with efforts focused on developing its waterfront, improving infrastructure, and attracting new businesses. Richmond has evolved into a bustling city with housing options that range from urban condos to historic suburban homes.

The nonprofit Richmond Main Street Initiative is dedicated to revitalizing the historic downtown “as a pedestrian-friendly urban village, offering products, services, arts, and entertainment that reflect the community’s rich and diverse heritage.”

Relatively Low Home Prices, for the Bay Area

If you’re thinking about buying a home in Richmond, you’ll be happy to know that local home prices are lower than most other Bay Area cities. This is due to many factors including the basic fundamentals of supply and demand.

Here’s a snapshot of median home values at the start of 2025, according to Zillow:

• City of Richmond: $624,488
• San Francisco-Oakland metro area: $1,140,718
• Contra Costa County: $809,393
• State of California: $778,355

A Competitive Housing Market for Buyers

Despite having lower home values, the Richmond housing market can be highly competitive due to limited inventory and steady demand. It tends to attract East Bay home buyers who are seeking a “bargain” property by San Francisco Bay Area standards.

Many properties in this city go under contract within two weeks of coming onto the market. This is due to a combination of low supply levels and strong demand, an imbalance that affects most Bay Area housing markets.

In short, Richmond home buyers can benefit from lower prices but still need to bring their ‘A’ game when entering the real estate market.

Buyers can increase their chance for success by getting pre-approved for a mortgage ahead of time, and by making a strong first offer when the right house comes along.

Popular Neighborhoods in Richmond

Richmond, California offers a wide variety of neighborhoods for home buyers. There’s something for just about every budget and lifestyle preference. Here are some popular neighborhoods located across the city.

Belding Woods: A quiet, residential neighborhood that offers affordable Bay Area housing with specialty markets and restaurants on almost every street. You’ll find a lot of affordable Spanish bungalow-style homes in this community.

Downtown Richmond: The city’s core, featuring the Richmond Civic Center and a growing number of restaurants and shops.

El Sobrante Hills: Primarily single-family homes with panoramic views and easy access to nature trails. It’s generally regarded as a safe and friendly neighborhood. Don’t confuse it with the unincorporated area of El Sobrante, California located to the north.

Hilltop District: Primarily a single-family home neighborhood with a mix of architectural styles, including Craftsman bungalows and newer constructions. It offers a convenient location close to I-80 for commuting and has several parks within the neighborhood.

Iron Triangle: Known for its industrial past, the Iron Triangle is transforming into a more mixed-use area. You’ll find a mix of residential options, including apartments, lofts (converted warehouses), and some single-family homes.

North Richmond: Primarily industrial, but also has residential areas with affordable housing options.

Point Richmond: A charming waterfront neighborhood known for its marinas, stunning views of the San Francisco Bay, and relaxed atmosphere. It features a mix of single-family homes and apartments, hiking trails, a historical pool, and a swimming beach.

Potrero District: A revitalized area with a mix of historic buildings, art galleries, trendy restaurants, and breweries. This neighborhood offers a mix of condos and classic Victorians, among other housing options.

The Richmond Annex: Located near Point Richmond, this neighborhood offers a suburban feel with Craftsman and California bungalows lining its streets. It’s the kind of neighborhood where you can walk to almost everything, from the post office to the grocery store.

Benefits of Living in Richmond

Richmond offers a host of benefits for residents, making it an attractive destination for home buyers of all kinds. Here are some of the reasons why people like to live there.

• Affordable Housing: Compared to many other Bay Area cities, Richmond offers relatively affordable housing options. This makes it appealing for first-time home buyers and families looking to get more value for their money.
• Cultural Heritage: From its historic architecture to its diverse population, the city of Richmond has a rich cultural heritage. Residents have the opportunity to experience a variety of cultures with many community events spread throughout the year. Food-wise, you’ll find everything from soul food to Central American cuisine.
• Outdoor Recreation: With its extensive park system, miles of shoreline, and proximity to regional parks and open space preserves, Richmond offers ample opportunities for outdoor recreation. Popular activities include hiking, biking, fishing, and birdwatching.
• Transit Accessibility: Richmond is well-connected to the rest of the Bay Area via public transit, including BART (Bay Area Rapid Transit) and AC Transit bus service. This makes it easy for residents to commute to work or explore the region without always relying on a car.
• Up-and-Coming City: Richmond is undergoing a revitalization with new businesses, restaurants, and arts initiatives emerging, making it an exciting place to live.