Richfield, Minnesota is a part of the Southwest Submarket submarket area.
The 2019 average effective rent for Class A, B, and C apartments in the Richfield, MN submarket area was $1,310, which is 19.96% higher than 2014 average rent. This represents a compounded annual growth rate of 3.71%. 2019 vacancy in Richfield, MN was 3.10%.
The total population of the city of Richfield, MN has grown 2.16% since 2010. As of 2018, the population was 35,990. The median household income of the Richfield was $63,434, which is 5.21% higher than the national average.