Albany vs Richmond
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Albany is 77% cheaper for renters. A 2-bedroom rents for $577/mo vs $1,021/mo in Richmond — saving $5,328/year.
Rent by Unit Size
| Unit Size | Albany | Richmond | Difference |
|---|---|---|---|
| Studio | $407 | $669 | $262 |
| 1 Bedroom | $488 | $842 | $354 |
| 2 Bedrooms | $577 | $1,021 | $444 |
| 3 Bedrooms | $748 | $1,317 | $569 |
| 4 Bedrooms | $841 | $1,453 | $612 |
| Median Income | $39,279 | $69,914 | $30,635 |
Albany
- Studio
- $407/mo
- 1 BR
- $488/mo
- 2 BR
- $577/mo
- 3 BR
- $748/mo
- 4 BR
- $841/mo
- Median Income
- $39,279/yr
Richmond
- Studio
- $669/mo
- 1 BR
- $842/mo
- 2 BR
- $1,021/mo
- 3 BR
- $1,317/mo
- 4 BR
- $1,453/mo
- Median Income
- $69,914/yr
Frequently Asked Questions
Is Albany or Richmond cheaper to rent in?
Albany is cheaper — a 2-bedroom Fair Market Rent is $577/mo vs $1,021/mo in Richmond. That's $444/mo or $5,328/year more expensive in Richmond (77% higher).
What is the 2-bedroom rent in Albany vs Richmond?
The HUD Fair Market Rent for a 2-bedroom in Albany is $577/month. In Richmond, a 2-bedroom FMR is $1,021/month.
How do incomes compare between Albany and Richmond?
The median household income in Albany is $39,279/year. In Richmond it is $69,914/year. Richmond has the higher median income.
What is the studio rent in Albany vs Richmond?
A studio apartment Fair Market Rent in Albany is $407/mo. In Richmond it is $669/mo.