Billings vs Richmond
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Billings is 12% cheaper for renters. A 2-bedroom rents for $913/mo vs $1,021/mo in Richmond — saving $1,296/year.
Rent by Unit Size
| Unit Size | Billings | Richmond | Difference |
|---|---|---|---|
| Studio | $613 | $669 | $56 |
| 1 Bedroom | $724 | $842 | $118 |
| 2 Bedrooms | $913 | $1,021 | $108 |
| 3 Bedrooms | $1,136 | $1,317 | $181 |
| 4 Bedrooms | $1,214 | $1,453 | $239 |
| Median Income | $47,175 | $69,914 | $22,739 |
Billings
- Studio
- $613/mo
- 1 BR
- $724/mo
- 2 BR
- $913/mo
- 3 BR
- $1,136/mo
- 4 BR
- $1,214/mo
- Median Income
- $47,175/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 Billings or Richmond cheaper to rent in?
Billings is cheaper — a 2-bedroom Fair Market Rent is $913/mo vs $1,021/mo in Richmond. That's $108/mo or $1,296/year more expensive in Richmond (12% higher).
What is the 2-bedroom rent in Billings vs Richmond?
The HUD Fair Market Rent for a 2-bedroom in Billings is $913/month. In Richmond, a 2-bedroom FMR is $1,021/month.
How do incomes compare between Billings and Richmond?
The median household income in Billings is $47,175/year. In Richmond it is $69,914/year. Richmond has the higher median income.
What is the studio rent in Billings vs Richmond?
A studio apartment Fair Market Rent in Billings is $613/mo. In Richmond it is $669/mo.