Services offered in
- Property Management
- CPA on Staff
- Repair & Maintenance
- Tenant Screening
- Rental Collection
- Professional Quality Photography
- Property Marketing
- Eviction Services
- 24 Hour Repair & Support Line
If you’re interested in the services of a property management company who values your home and your
community, contact Green Residential.
Normal Business Hours:
9a.m. - 5p.m. Monday - Friday
Phone: (713) 395 9700
Fax: (713) 600 5999
Hoping to Invest in Richmond Texas? Here’s What You Should Know First
For potential property investors looking at the suburbs and surrounding areas of Houston, Texas, Richmond is a top consideration. The city serves as the seat of Fort Bend county, and while it’s one of the smaller cities in the greater Houston metropolitan area, it’s also one of the most interesting. Before you look anywhere else, consider what Richmond, Texas could offer you.
Getting to Houston
If you’re planning to work in downtown Houston, Richmond offers a reasonable commute. It’s only 30 miles southwest of Houston, just on the other side of Sugar Land. Appropriately enough, it’s near the center of Fort Bend County, and has easy access to US Highway 90A.
If you’re planning to work within the city, you should know there’s no public transportation system, but there’s also almost no traffic to deal with.
Demographics and Income
Bordered on the north by the Brazos River, Richmond is a mere 4.3 square miles, with a population of just over 11,000 people. In Richmond, you’ll find people of all age groups, though households tend to have fewer children than in similar surrounding areas. The median age for Richmond is 32.7.
Median household income amounts to $35,000 per year, and while a portion of the population does live below poverty, there’s also a wealthy portion of the population. Income varies dramatically depending on what areas you investigate, though crime rates are relatively low throughout the city.
Richmond also offers more racial diversity than similar areas in Texas; 55 percent of the population identifies as Hispanic or Latino, with another 17 percent identifying as African American. In addition, 45 percent of the population speaks Spanish, compared to only 30 percent, on average, throughout Texas. The combination of ethnic and income diversity makes Richmond an interesting and diverse place to live.
Parks and Nature
The parks in Richmond, Texas are somewhat limited compared to what you’ll find in similar areas around Houston. However, since the city is close to a number of rivers and streams, and is home to both forested and grassy areas, there are plenty of opportunities for recreation. Wessendorff Park, for example, was built in 2012 and offers a gazebo, a jogging trail, and acres of open fields for sports or leisure activities. It joins Clay Park and George Park, both of which offer similar amenities, including playgrounds and pavilions.
Things to Do
In addition to the parks, you’ll find a number of interesting amenities and attractions in Richmond. Thanks to the historical nature of the city, you’ll find monuments, museums, and interesting historical locations to explore. Some of these include the George Ranch Historical Park, which spreads out over 20,000 acres, and the Fort Bend Museum, which recounts the history of the entire geographic region.
Even though Richmond is usually seen as a rural farm town (as it’s been for most of its history), the city is starting to attract new establishments like storefronts, restaurants, and strip malls. Accordingly, your impressions of Richmond will likely be split; on one hand, it will seem like an up-and-coming suburb, and on the other, it will seem like a sparsely populated ranch town.
Businesses and Job Opportunities
The majority of jobs in Richmond are blue-collar, with construction, agriculture, fishing, and hunting being some of the biggest areas of employment. Sales and administrative positions are also common. While there are some science and technology positions available in the area, most of the major businesses in the greater Houston area are closer to downtown. Most of the high earners in the area end up commuting.
The Education System
Schools in Richmond rate higher than the national average. Its elementary schools include Jane Long, Pink, and Deaf Smith Elementary, and its middle and high schools include Wessendorff Middle School, Lamar Junior High School, and Lamar Consolidated High School; however, many of these occupy Rosenberg addresses (even though they serve Richmond residents). There are also a small number of Richmond-based schools that don’t serve Richmond residents, so look carefully to see which properties are served by which schools.
The Housing Market
Richmond’s extended history makes its properties diverse in style and affordability. Some homes date back a hundred years or more, but most houses were built post-WWII, between 1940 and 1965. Bungalows, especially those made from wood and/or brick, are especially common, so if you’re looking for a property with unique character, it’s a good city to start your search.
The median home price is currently $220,000; the cost of living in Richmond is lower than downtown Houston and most of its wealthier suburbs, making it a valuable place to invest. Additionally, home prices have appreciated by more than 25 percent within the past few years—and show no signs of stopping.
Richmond is also home to one of the biggest renting populations in the greater Houston area, with more than 45 percent of its residents renting, rather than owning. This makes the area ideal for prospective landlords who want to secure good tenants.
How Can You Tell If Richmond Is Right?
If you’re not sure whether Richmond is the right place to start looking, consider whether these qualities describe you:
• You want a profitable rental property. Richmond has a bigger renting population than most of its neighbors, so if you’re trying to fill up a rental property with tenants, you’ll have fairly good luck here. Because the area offers a diverse range of different property styles and prices, you’ll also be able to find a property that fits your budget perfectly, so you can make sure you strike a profit.
• You’re trying to stay away from the city. Houston is an amazing city with lots to offer both residents and travelers, but as a property manager or homeowner, you may want to avoid problems like noise, traffic, and pollution. Richmond offers a small-town vibe, with a low population density and limited problems with congestion—but at the same time, you’re never more than 45 minutes away from downtown. It’s a nice middle ground for commuters or people who love the Houston area in general.
• You aren’t sure what type of house you want. If you’re undecided about the type of home you want or how much money you want to spend, Richmond is a good place to shop around. You’ll find a number of different types of homes, some dating back to before World War II, and some built within the past decade, so you can have more options for your investment.
• You embrace diversity. If you speak Spanish, or just love the idea of a community that’s culturally and ideologically diverse, Richmond is a good place to invest in or call home—and it’s only getting more diverse over time.
• You want to earn a return on your investment. Richmond is a city in transition. It holds much of the same qualities that distinguished it as a rural farming town, but it’s starting to evolve into a stronger suburb. Accordingly, property values are on the rise, so you’ll likely see a return on your investment within a few years.
If you’re ready to start looking for a home in Richmond, Green Residential is ready to help you take the next step. Take a tour of the area using our home search tool, and get a feel for the properties that are available. From there, you’ll be able to dig deeper into your research and eventually find the perfect property to flip, manage, or own.