Located about 10 miles south of Minneapolis, Richfield is a quintessential suburb with a strong business ecosystem.
Richfield is somewhat unique among cities. While most grow over time, Richfield grew out of the fertile farmland that it is named for, and was originally a village at least seven times its present size.
According to the 2010 Census, the city’s total population is just over 35,000 people and is projected to rise to 40,000 by 2020. In terms of demographics, there are 8,400 different families living in the area, spread out among 14,800 individual households.
Despite its proximity to a major urban center, Richfield strives to retain that small town feel that you crave -- the streets are clean, the City government is approachable and the community is tight-knit.
The Richfield MN real estate market is also pretty affordable. The median sales price for homes is $207,000, and the housing market includes single-family homes, condos and apartment units.
The majority of single-family home constructions date back to the 1950s, but there’s an ongoing effort to remodel these homes to reflect today’s preference for more space.
You’ll also find that there is a good supply of rental units, especially to the north around Richfield Lake Park.
As a whole, prices are more reasonable than those you’ll see in neighboring Edina (where average price per square foot is 40% more), even if the distance to Minneapolis is comparable.
When it comes to work, you will find no shortage of diversity. Richfield is home to significant career opportunities in a variety of different industries. And, you’ll likely be able to find a position close to home, as nearly half of residents are employed within the city limits.
Best Buy, the largest retailer of electronic-related goods and services in the country, has its corporate headquarters in the area and also acts as the city's largest employer, with over 5,000 employees.
US Bank, Target, The Home Depot and the Richfield Health Center are all also among the city's top ten employers.
