Richmond (VIC 3121): property prices & suburb profile

Richmond property prices

The typical Richmond house sold for around $1,402,000 in the year to 2025-Q4, +45.2% over 10 years and +10.7% over 5 years.

• Medians are published by the Victorian Valuer-General per suburb; we do not have individual sale records for this state, so there is no street-level breakdown on this page (our New South Wales pages have one).
• The headline figure is a sales-weighted average of the last four quarterly medians, not a median of individual sales, because one quiet quarter in a single suburb can move a quarterly median by more than the market did. The chart below plots each quarter as published.
• The Victorian Valuer-General yearly file currently ends at 2024; newer points on the chart and the short-horizon changes come from the quarterly file.
• Change over time reflects what sold in each period, not the value of any one home: a run of large or small homes moves it.
• Periods with fewer than 5 recorded sales are excluded.

Richmond medians by quarter

The most recent quarter on record for Richmond is 2025-Q4.

• Sale counts are shown so you can judge how solid each median is.

Who lives in Richmond

Richmond has a median age of 34 and a median household income of $2,245 a week.

• Figures labelled Richmond are for the suburb boundary itself (ABS 2021 Census). Anything labelled SA2 or postcode covers a wider area: SA2 "Richmond (South) - Cremorne" and postcode 3121 both extend beyond Richmond.
• SEIFA decile 1 is the lowest tenth of Australian areas on that index and 10 the highest. The four indices measure different things and often disagree, which is why all four are shown: a suburb can rank high on education and occupation while ranking mid on economic resources.

Schools in Richmond

The 7 mainstream Richmond schools with a published ICSEA score sit at the 77th percentile nationally on ACARA's socio-educational index.

• ICSEA is ACARA's socio-educational index (average 1000). It describes the family backgrounds of the students enrolled, NOT how well a school teaches: a lower ICSEA means a less advantaged intake, not a worse school.
• Percentiles are ACARA's own national ranking, so the Australia bar is a published figure rather than our arithmetic. Each area shows the median of the mainstream schools sitting inside it; special schools are listed in the table but excluded from the medians. Schools with no published ICSEA are listed but excluded as well.
• Public school intake zones are not published in our dataset for this state, so confirm catchments with the school.

Suburbs near Richmond

Richmond's typical house price of $1,402,000 is the 17th highest of the 22 Melbourne Inner suburbs we cover.

• Albert Park 3206

  $2,309,000 typical house price

• Armadale 3143

  $2,643,000 typical house price

• Balaclava 3183

  $1,402,000 typical house price

• Carlton 3053

  $1,542,000 typical house price

• Collingwood 3066

  $1,321,000 typical house price

• Docklands 3008

  $573,000 typical unit price

• Elwood 3184

  $2,203,000 typical house price

• Fitzroy 3065

  $1,575,000 typical house price

All Melbourne Inner suburb research

Richmond: common questions

How much does a house cost in Richmond?

About $1,402,000 across the 12 months to 2025-Q4, from 275 recorded sales. That is a sales-weighted average of the four quarterly medians published by the Victorian Valuer-General: a single quarter in one suburb can swing on a handful of sales.

Have Richmond prices gone up?

Prices have risen 45.2% over 10 years and moved +10.7% over 5 years, comparing the latest rolling year with the same window a decade earlier. These movements reflect the mix of homes sold, not the change in value of a specific property.

What do units cost in Richmond?

The typical unit price was around $586,000 across the 12 months to 2025-Q4: a sales-weighted average of the quarterly unit medians, from 588 sales.

Can I see Richmond prices street by street?

Not yet. VIC publishes suburb-level medians rather than individual sale records, so street-level medians are only available on our New South Wales pages.

Which schools are in Richmond?

Richmond has 9 ACARA-registered schools, including Bindjiroo Yaluk Community School, Ignatius Learning Centre, Melbourne Girls College, Melbourne Indigenous Transition School, Richmond High School, Richmond Primary School.