Total monthly cost of ownership
Cost to Own a Home in Richland, Washington
A $402,000 home here costs
$2,938per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,067. The real number is $871 higher every month — 42% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Richland against Benton County and Washington
| Measure | Richland | Benton County |
|---|---|---|
| Median home value | $401,800 | $369,400 |
| Median property tax | $3,288 | $2,910 |
| Effective tax rate | 0.818% | 0.788% |
| Median gross rent | $1,397 | $1,256 |
| Population | 61,912 | 210,224 |
The weather behind that power bill
Richland sits in Benton County, which averages a high of 92.5°F in its hottest month and a low of 27.3°F in its coldest, with 7.62" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 788 cooling and 5,011 heating degree days, which is what sets the $134 electricity line above.
See the full climate breakdown for Benton County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Benton County
Full Benton County cost breakdown · Every county in Washington
Common questions
How much does it cost to own a home in Richland?
A $402,000 home in Richland, Washington costs approximately $2,938 per month with 20% down at 6.66%. That is $2,067 principal and interest, $274 property tax, $60 homeowners insurance, $202 utilities and $335 set aside for maintenance.
What is the property tax rate in Richland?
Richland has an effective property tax rate of 0.818%, based on a median home value of $401,800 and median real estate taxes of $3,288. That is higher than the Benton County average of 0.788%.
What is the average home price in Richland?
The median owner-occupied home value in Richland, Washington is $401,800, against $369,400 across Benton County.
Is it cheaper to rent or buy in Richland?
Median gross rent in Richland is $1,397 a month, against $2,938 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Richland — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Washington.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.