Richmond
RANK #769 / 996 NAT · #13 / 19 KY · POP 92,955
1YR FORECAST: +1.2%
5YR OUTLOOK: +17%
A notable feature of Madison County, Kentucky, is Fort Boonesborough State Park, a reconstructed 18th-century fort marking an early settlement in Kentucky by Daniel Boone. The county is in east-central Kentucky, where the Bluegrass region meets the Appalachian foothills. It is about a 25- to 30-minute drive south of Lexington via I-75. The community offers a blend of urban, suburban, and rural environments, with outdoor recreation opportunities at places like Lake Reba Park and the Berea Pinnacles, known for hiking trails and scenic views.
Life in Madison County offers a lower cost of living compared to the national average. The county is home to Eastern Kentucky University and Berea College, contributing to a college-town atmosphere in Richmond and Berea. The public school system is rated above average. The economy is supported by sectors such as manufacturing, education, and healthcare. Recent economic developments include investments in advanced manufacturing and infrastructure projects aimed at attracting more businesses.
Above national median (4.7x)
Below-average climate & terrain
Above national median (13x)
Housing is fairly valued at 5.3x relative to local economic output. The typical U.S. county is 4–6x.
Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.
Source: Redfin · Census BPS — Browse sales on Redfin →
Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →
| PROJECT | AMOUNT | STATUS |
|---|---|---|
|
Madison Solar Project
ACCIONA
|
$120M | Planned |
|
Central Kentucky Regional Business Park
Lexington-Fayette Urban County, Madison County, Scott County, City of Berea (partnership)
|
$50M | Under Construction |
|
Richmond Industrial Park South III Site Development
Richmond Industrial Development Corp. (RIDC)
|
$50M | Completed |
Source: public records, news, corporate announcements. Amounts are estimates where noted.
Bars show percentile rank among all 996 counties.
At 22/100, Madison County faces headwinds that place it in the lower third of the 996 counties we track. Median income of $59,797 combined with job growth of +3.6% suggests the local economy is struggling to keep pace with national trends.
Housing in Madison County is roughly in line with national affordability norms. The median home costs $200,600 and the income-to-home-value ratio sits at 0.30, with rents averaging $826/month. Not a bargain, but not a stretch for most local earners either.
Madison County is growing on multiple fronts. Population is up +0.8% year-over-year while employers added jobs at a +3.6% clip. Home values shifted +2.1% in the past year.
In significant numbers — 5.68% of Madison County's current population relocated from another state, well above the national norm. That level of in-migration usually signals a county where jobs, affordability, or quality of life are pulling people in from elsewhere.