There were 258 households out of which 29.5% had children under the age of 18 living with them, 54.7% were married couples living together, 8.1% had a female householder with no husband present, and 34.1% were non-families. 29.5% of all households were made up of individuals and 14.3% had someone living alone who was 65 years of age or older. The average household size was 2.30 and the average family size was 2.84.
In the village the population was spread out with 24.6% under the age of 18, 5.1% from 18 to 24, 26.8% from 25 to 44, 26.3% from 45 to 64, and 17.2% who were 65 years of age or older. The median age was 43 years. For every 100 females there were 80.2 males. For every 100 females age 18 and over, there were 78.1 males.
The median income for a household in the village was $50,938, and the median income for a family was $58,542. Males had a median income of $42,250 versus $30,956 for females. The per capita income for the village was $23,777. About 1.2% of families and 1.4% of the population were below the poverty line, including none of those under age 18 and 7.5% of those age 65 or over.
Lacking a flowing stream that would have provided water power, Richland never developed significant industry and remained a sleepy farm community until the late twentieth century. In the 1980s and 90s, small employers such as Richard Allen Medical moved to the edge of town, and Richland became a bedroom community for Kalamazoo. The high quality of the local Gull Lake School District also drew people from surrounding areas. New subdivisions were built in what had been hilly farm country.