Chicago-Naperville-Elgin vs Richmond
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Richmond is 20% cheaper for renters. A 2-bedroom rents for $1,021/mo vs $1,222/mo in Chicago-Naperville-Elgin — saving $2,412/year.
Rent by Unit Size
| Unit Size | Chicago-Naperville-Elgin | Richmond | Difference |
|---|---|---|---|
| Studio | $849 | $669 | $180 |
| 1 Bedroom | $1,023 | $842 | $181 |
| 2 Bedrooms | $1,222 | $1,021 | $201 |
| 3 Bedrooms | $1,528 | $1,317 | $211 |
| 4 Bedrooms | $1,886 | $1,453 | $433 |
| Median Income | $79,852 | $69,914 | $9,938 |
Chicago-Naperville-Elgin
- Studio
- $849/mo
- 1 BR
- $1,023/mo
- 2 BR
- $1,222/mo
- 3 BR
- $1,528/mo
- 4 BR
- $1,886/mo
- Median Income
- $79,852/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 Chicago-Naperville-Elgin or Richmond cheaper to rent in?
Richmond is cheaper — a 2-bedroom Fair Market Rent is $1,021/mo vs $1,222/mo in Chicago-Naperville-Elgin. That's $201/mo or $2,412/year more expensive in Chicago-Naperville-Elgin (20% higher).
What is the 2-bedroom rent in Chicago-Naperville-Elgin vs Richmond?
The HUD Fair Market Rent for a 2-bedroom in Chicago-Naperville-Elgin is $1,222/month. In Richmond, a 2-bedroom FMR is $1,021/month.
How do incomes compare between Chicago-Naperville-Elgin and Richmond?
The median household income in Chicago-Naperville-Elgin is $79,852/year. In Richmond it is $69,914/year. Chicago-Naperville-Elgin has the higher median income.
What is the studio rent in Chicago-Naperville-Elgin vs Richmond?
A studio apartment Fair Market Rent in Chicago-Naperville-Elgin is $849/mo. In Richmond it is $669/mo.