This report covers Richmond, British Columbia, the city on the Fraser River delta just south of Vancouver; Richmond Hill in Ontario has its own Richmond Hill housing market page. Richmond is a single area in the territory of Greater Vancouver REALTORS (GVR), so the board gives it one MLS® Home Price Index benchmark per home type plus a count of sales and new listings. The figures are for September 2026, from the package GVR released in October 2026. GVR does not publish a Richmond average or median sale price in that release; the housing market overview explains why a benchmark and an average can differ, and the Vancouver housing market page has the whole board area.
Richmond home prices by type, September 2026
| Home type | Benchmark price | Change over the year |
|---|---|---|
| Detached | $1,871,100 | -8.5% |
| Townhouse | $1,025,000 | -2.3% |
| Apartment | $635,600 | -9.1% |
| Composite (all types) | $1,015,800 | -6.8% |
Source: GVR MLS® HPI, Richmond, September 2026.
At $1,015,800, Richmond’s composite sat 6% below the composite for the whole GVR region.
Richmond sales and listing activity
| Detached | Attached | Apartment | |
|---|---|---|---|
| Sales, September 2026 | 65 | 48 | 110 |
| Sales, same month a year before | 55 | 43 | 93 |
| New listings, September 2026 | 185 | 146 | 278 |
| New listings, a year before | 200 | 162 | 346 |
GVR listing and sales activity summary, Richmond.
All three types together: 223 sales for 609 new listings, or 37 sales per 100 listings (our calculation from GVR’s counts; how that ratio is read).
Income to buy a home in Richmond
Richmond’s benchmark apartment needs roughly $143,700 a year at the minimum $38,560 down, and the composite home $198,000 with 20% down (method).
Transfer tax on a Richmond purchase
BC’s property transfer tax comes on top of a Richmond purchase price; the BC property transfer tax calculator applies the rates and exemptions.
Related pages
- Burnaby housing market: benchmarks for Burnaby’s three GVR areas
- Coquitlam housing market: the Tri-Cities
- Vancouver housing market: every GVR area side by side
- British Columbia housing market: the provincial picture
- Vancouver rental market: rents across the Vancouver area
- BC mortgage affordability calculator
Sources
The figures and rules on this page come from these sources, last checked against them between September 25, 2026 and October 4, 2026. How we check facts.
- CMHC: Calculating GDS / TDS
- CMHC: CMHC Purchase
- CMHC: Home Start
- CMHC: CMHC Improvement
- Department of Finance Canada: Archived
- Department of Finance Canada: Government announces boldest mortgage reforms in decades to unlock homeownership for…
- Department of Finance Canada: “Straight Switches” and portfolio insurance
- Department of Finance Canada: Boldest mortgage reforms in decades come into force today
- Financial Consumer Agency of Canada: How much you need for a down payment
- Financial Consumer Agency of Canada: Buying a home
- Greater Vancouver REALTORS: Greater Vancouver REALTORS
- Greater Vancouver REALTORS: GVR Stats Package September 2026
- Justice Laws (Canada): Bank Act
- OSFI: Minimum qualifying rate for uninsured mortgages
- OSFI: Final Revised Guideline B-20: Residential Mortgage Underwriting Practices and Procedures
- OSFI: Amendments to the minimum qualifying rate for uninsured mortgages
- OSFI: OSFI exempts uninsured mortgage straight switches from the prescribed MQR and…
- OSFI: Loan-to-income limits for uninsured mortgage portfolios