New Richmond, IN Profile: Facts & Data


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New Richmond, Indiana - Basic Facts

The Town of New Richmond had a population of 302 as of July 1, 2020.

The primary coordinate point for New Richmond is located at latitude 40.1956 and longitude -86.9789 in Montgomery County. The formal boundaries for the Town of New Richmond encompass a land area of 0.2 sq. miles and a water area of 0 sq. miles. Montgomery County is in the Eastern time zone (GMT -5). The elevation is 784 feet.

The Town of New Richmond (GNIS ID: 2396808) has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The Town of New Richmond is located within Township of Coal Creek, a minor civil division (MCD) of Montgomery County.


New Richmond, IN Data & Demographics (As of July 1, 2020)


Total Population 302 (100%)
Population in Households 302 (100.0%)
Population in Families 257 (85.1%)
Population in Group Quarters1 0
Population Density 1,562
Diversity Index2 9


Median Household Income $57,702
Average Household Income $65,340
% of Income for Mortgage4 10%
Per Capita Income $25,022
Wealth Index5 55


Total HU (Housing Units) 128 (100%)
Owner Occupied HU 101 (78.9%)
Renter Occupied HU 20 (15.6%)
Vacant Housing Units 8 ( 6.2%)
Median Home Value $131,522
Average Home Value $139,851
Housing Affordability Index3 284


Total Households 120
Average Household Size 2.52
Family Households 91
Average Family Size 3
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.


2010-2020 2020-2025
Population 0.78% 0.59%
Households 0.85% 0.66%
Families 1.64% 0.65%
Median Household Income   1.0%
Per Capita Income   1.56%
Owner Occupied HU   0.39%


New Richmond, IN - Peer Comparisons by Rank and Percentile

The table below compares New Richmond to the other 679 incorporated cities, towns and CDPs in Indiana by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 554 19th
Population Density # 249 63rd
Median Household Income # 246 64th
Housing Affordability Index # 410 60th
Per Capita Income # 389 43rd
Diversity Index # 459 33rd

Additional comparisons and rankings can be made with a VERY EASY TO USE Indiana Census Data Comparison Tool.

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