Your Richmond REALTOR® — Muzaffar Manghat

Richmond is a low-lying city on the Fraser River just south of Vancouver, home to Vancouver International Airport (YVR), the Canada Line and the historic fishing village of Steveston. It suits buyers who want a fast trip to the airport or downtown Vancouver, families looking at townhouses and detached homes on flat, walkable streets, and condo buyers in a fast-growing City Centre. I help buyers and sellers in Richmond weigh its neighbourhoods, its airport-area rules and its flood-protection context with current board data.

Richmond at a glance

Richmond neighbourhoods

Richmond's growth is split between a dense City Centre along the Canada Line and lower-rise neighbourhoods elsewhere. Here is a quick guide.

The Richmond real estate market

Richmond real estate is more balanced between home types than many Metro Vancouver cities. In the 2021 Census, about 30% of homes were single-detached houses and nearly 20% were row houses or townhouses, with the rest mostly apartments. New construction is a different story: from 2015 to 2024, 71% of housing starts were apartments, 16% townhouses and 13% single-family homes, according to the city.

The Richmond 2050 OCP, adopted in February 2026, aims for compact, transit-oriented growth inside and outside City Centre, with more low-rise apartments and townhouses along arterial roads. Price drivers include distance to the Canada Line, school catchment, lot size, and aircraft-noise and flood-related requirements.

Greater Vancouver REALTORS® reported these Richmond benchmark prices for October 2026:

• All residential (composite): $998,300, down 8.3% from a year earlier.
• Detached: $1,833,100, down 11.1%.
• Townhouse: $1,009,300, down 4.5%.
• Apartment: $625,700, down 8.8%.

The board counted 57 detached, 66 attached and 128 apartment sales in Richmond that month, against 140, 119 and 211 new listings. The board-wide composite was $1,068,600, down 5.2%. Read the GVR October 2026 stats package.

Schools and education in Richmond

Richmond is served by School District No. 38 (Richmond). For Kindergarten, the district lists two program options beyond the regular program: Early French Immersion and Montessori. Seats in programs of choice are limited, so register early and confirm your catchment school for any address you are considering.

Post-secondary options in Richmond include Kwantlen Polytechnic University's Richmond campus at 8771 Lansdowne Road, which hosts the Wilson School of Design, and BCIT's Aerospace Technology Campus at 3800 Cessna Drive near YVR's South Terminal.

Getting around Richmond

The Canada Line is Richmond's rapid transit link. Trains from downtown Vancouver split at Bridgeport: one branch runs to Capstan, Aberdeen, Lansdowne and Richmond–Brighouse in City Centre, and the other runs to Templeton, Sea Island Centre and YVR–Airport. That makes Richmond one of the easiest places in the region to live if you fly often or work at the airport.

Highway 91 serves east Richmond near Hamilton. Common commute destinations include downtown Vancouver, the airport, Burnaby and the Fraser Valley. Travel times depend on traffic and bridge or tunnel crossings, so test your route at rush hour before you buy.

Parks, recreation and things to do in Richmond

• Richmond Olympic Oval — built for 2010 Olympic speed skating, now a community sport and wellness centre with two Olympic-sized ice surfaces, eight courts and The Olympic Experience museum.
• Steveston — the Gulf of Georgia Cannery National Historic Site, Garry Point Park's waterfront views and Imperial Landing Park's boardwalk, fishing piers and observation tower.
• Terra Nova Rural Park — 63 acres of trails, gardens, heritage buildings and the Terra Nova Adventure Play Environment.
• Richmond Nature Park — more than 200 acres of bog forest with a pond and Nature House.
• Minoru Park — sports facilities, walking paths and peaceful lakes.
• Garden City Park and Garden City Lands — adventure play and an arboretum, plus a community farm and bog conservation area.
• Middle Arm Waterfront Greenway — piers, an amphitheatre and several play areas on the Middle Arm waterfront.
• London Farm — a historic farmhouse in a park overlooking the Fraser River.

Local rules and costs to know in Richmond

• Flood protection: Richmond sits about 1.0 m above sea level and relies on 49 km of dikes, 39 drainage pump stations and hundreds of kilometres of drainage pipes and watercourses. Ask about flood construction requirements and home insurance before you buy or rebuild.
• Aircraft noise: The OCP's Aircraft Noise Sensitive Development policy limits where certain new housing can go near YVR. Since a 2004 amendment, apartments and townhouses have been allowed only in some airport-area locations, based on noise studies and with noise insulation and covenants. Check the title for any noise covenant.
• Steveston Village Heritage Conservation Area: Protected heritage properties need a heritage alteration permit for exterior changes or new construction; other properties need a development permit for that work.
• Richmond 2050 OCP and small-scale multi-unit housing: The new OCP was adopted on February 9, 2026. Provincial rules require 3 to 4 units on many single-family and duplex lots, and up to 6 near frequent bus service. The City's OCP materials note that in Richmond a sixth unit must be below-market rental.
• Speculation and vacancy tax: Richmond is a taxable area. From January 1, 2026 the rate is 1% for most Canadian citizens and permanent residents and 3% for foreign owners and untaxed worldwide earners, unless an exemption applies.
• Property transfer tax: 1% on the first $200,000, 2% up to $2,000,000, 3% above, and a further 2% on residential value over $3,000,000. First-time buyers may qualify for a full exemption up to $500,000 or $8,000 off up to $835,000, phasing out at $860,000. Foreign nationals may also owe additional property transfer tax in specified areas of BC. Use our BC property transfer tax calculator.
• Property tax: Set annually by the City of Richmond; check the city's website for current rates.

Buying a home in Richmond

• Check the title for covenants, including aircraft noise and flood-related restrictions, and have your lawyer explain them.
• For older detached homes, ask about the flood construction level if you plan to rebuild, and get an inspection that looks at drainage and crawl spaces.
• Compare City Centre condos by walk time to a Canada Line station; it affects both daily life and resale.
• In Steveston Village, confirm heritage status before planning exterior changes.
• Register early for French Immersion or Montessori with School District No. 38 if those matter to you.
• Look at what the 2050 OCP allows on your street, especially along arterial roads where townhouses and low-rise apartments are planned.
• Set your budget with our home affordability calculator.

Selling a home in Richmond

• Detached benchmarks fell the most in October 2026 (down 11.1% year over year), so price detached homes carefully against recent comparable sales.
• Highlight what buyers search for: Canada Line access, airport proximity, catchment schools and nearby parks like Terra Nova, Garry Point or Minoru.
• If your lot may allow more units under the 2050 OCP or provincial rules, say so; builders may be in your buyer pool.
• Gather documents early, including any covenants on title, permits and strata records.
• Townhouse benchmarks fell less than other Richmond home types over the past year (down 4.5% vs 11.1% for detached), so a well-presented townhouse can stand out.
• Get a free home value estimate and use the seller net proceeds calculator to see your bottom line.

Richmond real estate FAQs

Sources

• City of Richmond — Population Hot Facts
• City of Richmond — Housing Hot Facts (2021 Census)
• City of Richmond — 2050 OCP: Neighbourhoods and Housing
• City of Richmond — OCP update (adoption)
• City of Richmond — OCP Airport section
• City of Richmond — Airport noise task force report (2009)
• City of Richmond — Flood Protection infographic
• City of Richmond — Steveston Village Heritage Conservation Area guide
• City of Richmond — Hamilton Area Plan
• City of Richmond — Signature Parks
• City of Richmond — Terra Nova Rural Park
• Parks Canada — Gulf of Georgia Cannery National Historic Site
• IOC — The Richmond Olympic Oval
• School District No. 38 (Richmond)
• Richmond School District — Kindergarten program options
• KPU — Richmond campus
• BCIT — Aerospace Technology Campus
• TransLink — SkyTrain (Canada Line)
• Greater Vancouver REALTORS® — Stats Package, October 2026
• Bank of Canada — Policy rate decision, October 28, 2026
• BC Government — Speculation and vacancy tax taxable areas
• BC Government — 2025 Budget tax changes (SVT rates)
• BC Government — Property transfer tax
• BC Government — First time home buyers' exemption amounts
• BC Government — Small-scale multi-unit housing

This page is general information, not financial, mortgage, tax or legal advice. Information is believed reliable but not guaranteed and may change; verify details with the source. Listings shown on this site may be from other brokerages. This is not intended to solicit buyers or sellers currently under contract with a brokerage.