Cost Of Living
Taking into account the cost of goods and services like housing, groceries, transportation and utilities, the overall cost of living in this area is well below average.
Housing
High scores in the housing category are a distinguishing feature of this area, possibly driven by a favorable home affordability ratio, higher home values and appreciation rates.
Amenities
The majority of amenities are not ideally located within walking distance. To access these amenities, residents may be required to rely on a vehicle or public transit.
Commute
A low commute score could be due to longer-than-average work commutes and the limited availability of public transportation in this area.
Crime
This area reports elevated crime rates per 100,000 individuals, potentially pointing some areas being unsafe for its residents. Stats are based on both property and violent crimes.
Employment
In the employment category, a low score could be attributed to low income levels and high unemployment in the area, suggesting potential difficulties in finding lucrative employment.
Schools
The low schools score could result from issues like below-average graduation rates, inadequate reading and math scores, and the unavailability of local elementary and high schools.
Richwood, Louisiana is a smaller city with a population of 4,778 residents. With a total of 72%, the Black or African American racial group makes up the majority of the population in Richwood. The next most represented races are 25% White and 0% Asian. Richwood could be a great place for young adults and students as the average age of 33 years old is below the nation’s average. In Richwood, only 14% of people over the age of fifteen are married. This city could be a good option for singles ready to mingle. If you prefer shorter commutes, living in Richwood will be a delight. With an average one-way commute time of just 20 minutes, traveling to and from work is notably more convenient than the national average, which stands at 26 minutes.
Whether you’re relocating to a new area to be closer to family, friends or for a new job, living in Richwood could be a positive experience compared to other cities in Louisiana if you know where to search. Don't forget to determine what matters most to you in a neighborhood. Consider factors such as safety, proximity to work or school, access to amenities (like parks, fitness facilities, grocery stores, restaurants), public transportation options, community atmosphere and the overall vibe you're looking for. Using the livability score which includes data from categories like cost of living, commute, education, housing, you can easily compare the best places to live in Richwood and also determine if there are any nearby cities that might be a better match for your lifestyle. You can also compare Richwood to Louisiana and the national average.
The livability score in Richwood is 55 out of 100 and the city is ranked in the 24th percentile of all cities across America. This is a lower than the national average livability score as Richwood does not rank well for most categories. If we consider each of the categories individually, we see that Richwood ranks well for housing (A). There are some categories that Richwood scores poorly for, including: amenities (F), crime (F), education (F) and employment (F). It might be worth taking a closer look to determine why.
In today's ever-changing economic climate, pursuing a cost-effective lifestyle takes on heightened importance, particularly with the continual increase in prices for everyday necessities. When living in Richwood, residents are privileged to experience a cost of living that stands 25.15% below the national average. This advantageous position has a far-reaching impact, spanning a wide array of expenditures, encompassing not just goods and services, but also housing, groceries, and transportation costs. As a result, this area emerges as a central hub where your financial resources yield greater value, allowing for the maintenance of an economically sustainable lifestyle. This affordability holds exceptional significance in an era characterized by mounting expenses, making Richwood an attractive destination for individuals seeking financial prudence without compromising their quality of life.
Unemployment rates can vary significantly among cities, impacting job prospects, wage levels and the overall economic health of an area. In Richwood, the unemployment rate stands at 2.63%, suggesting increased job opportunities and a heightened demand for workers. This scenario can lead to higher wages, as the demand for employees outpaces job availability. Importantly, a low unemployment rate often signifies a robust and flourishing local economy.
Real estate represents the most substantial investment for homebuyers, constituting their most valuable asset. Renters, on the other hand, typically see their monthly rent as their most significant expense. The Richwood market earns a high score in the housing category, surpassing the national average in factors like home and rental affordability and appreciation rates. This robust real estate market not only benefits individual homeowners and renters but also spurs vigorous local economic activity and job growth, solidifying its significance in driving the region's prosperity and financial well-being.
Being close to public transit, grocery stores, parks and other conveniences are all important when weighing your options for a new home in Richwood. Before you determine if any of these amenities are available in the area, you will also want to know if the real estate prices in Richwood are affordable. The median home price for Richwood homes is $61,300, which is 58.7% lower than the Louisiana average. If we take a closer look at the affordability of homes in Richwood, we’ll see that the home price to income ratio is 2.5, which is 24.2% lower than the Louisiana average.
| Statistic | Richwood | Louisiana | National |
| Average one way commute | 20min | 25min | 26min |
| Workers who drive to work | 91.4% | 82.6% | 76.4% |
| Workers who carpool | 3.0% | 9.6% | 9.3% |
| Workers who take public transit | 3.4% | 1.3% | 5.1% |
| Workers who bicycle | 0.0% | 0.5% | 0.6% |
| Workers who walk | 1.4% | 1.8% | 2.8% |
| Working from home | 0.0% | 2.6% | 4.6% |
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