Several creeks and streams criss-cross the town and part of these waters help to form the headwaters of the Williams River, which flows through West Stockbridge to the south and joins the Housatonic River in Great Barrington. Richmond's rural ambience is enforced by progressive and strong zoning bylaws and by a newly enacted local wetland bylaw. The town is principally residential in nature, with only a handful of commercial enterprises and several orchards and farms.

In years past the town hosted extensive iron mining operations, which ended in 1923. A large furnace involved in these operations is still standing and has been nominated for placement on the National Historic Register. There are many part-time residents of Richmond from New York City or the Boston area involved in business or the arts who have chosen Richmond as their second homes for its beauty and privacy. The residents of Richmond express a strong sense of community.

Richmond Massachusetts is located in Western Massachusetts, bordered by Hancock and Pittsfield on the north; Lenox on the east; Stockbridge and West Stockbridge on the south; and Canaan, New York, on the west. Richmond is 14 miles north of Great Barrington and 145 miles west of Boston.