Home Insurance in Richmond, California
The median home value in Richmond is $668,200, 23% lower than the Contra Costa County median.
The typical home in Richmond was built around 1966. About 44% of homes were built before 1960, about 21 points above Contra Costa County's 23%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
In Richmond, the housing stock is 69% single-family homes and 19% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
In Richmond, about 68% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 55% of occupied homes in Richmond are owner-occupied. The vacancy rate is 4%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Richmond - 65% - are primarily heated with natural gas.
FEMA rates Contra Costa County's overall risk as Very High, led by earthquake (Relatively High). Contra Costa County had 3,156 active NFIP flood policies as of September 2026. See the full Contra Costa County home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake damage is excluded from a standard homeowners policy.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in California carries a statewide average premium of $1,655 per year.
Key figures
| Median home value | $668,200 |
|---|---|
| Median year built | 1966 |
| Owner-occupied share | 55% |
| Share of owner-occupied homes with a mortgage | 68% |
| Top county hazard | Earthquake (Relatively High) |
| Active NFIP policies in Contra Costa County | 3,156 |
| Home insurance premium | $1,655 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)