Fargo vs Richmond
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Fargo 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 | Fargo | Richmond | Difference |
|---|---|---|---|
| Studio | $577 | $669 | $92 |
| 1 Bedroom | $717 | $842 | $125 |
| 2 Bedrooms | $913 | $1,021 | $108 |
| 3 Bedrooms | $1,145 | $1,317 | $172 |
| 4 Bedrooms | $1,249 | $1,453 | $204 |
| Median Income | $45,978 | $69,914 | $23,936 |
Fargo
- Studio
- $577/mo
- 1 BR
- $717/mo
- 2 BR
- $913/mo
- 3 BR
- $1,145/mo
- 4 BR
- $1,249/mo
- Median Income
- $45,978/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 Fargo or Richmond cheaper to rent in?
Fargo 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 Fargo vs Richmond?
The HUD Fair Market Rent for a 2-bedroom in Fargo is $913/month. In Richmond, a 2-bedroom FMR is $1,021/month.
How do incomes compare between Fargo and Richmond?
The median household income in Fargo is $45,978/year. In Richmond it is $69,914/year. Richmond has the higher median income.
What is the studio rent in Fargo vs Richmond?
A studio apartment Fair Market Rent in Fargo is $577/mo. In Richmond it is $669/mo.