575 Main St W
575 Main St W,
Richmond, MN 56368
$2,495 Total Monthly Price
4 Beds | 12 Month Lease
Rental Market Trends in Richmond, MN
What is the average rent in Richmond, MN?
$526/month
Average Rent
0 Sq Ft
Average Apartment Size
+1.3%
Increase in the Last Year
Richmond, MN Rental Market Overview
The average rent in Richmond, MN is $526 per month. This is 68% lower than the national average rent of $1,644/month, making renting in Richmond more affordable than most cities in the US.
- Studio apartments in Richmond average per month.
- One-bedroom apartments in Richmond average $526 per month.
- Two-bedroom apartments in Richmond average per month.
- Three-bedroom apartments in Richmond average or more per month.
Data Updated: June, 2026
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Richmond, MN?
In the past year, rent has increased by 1.3%, which averages out to $7 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated June 2026
Legend
2025
2026
Rent Ranges in Richmond, MN
Last Updated June 2026
Below $701
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
0%
$1,001 - $1,500/month
0%
$1,501 - $2,000/month
0%
Above $2,000/month
What salary do I need to live comfortably in Richmond, MN?
Because the average rent in Richmond is $526, you’ll want to make about $1,753 per month or $21,036 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.