Knoxville vs Richmond
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Knoxville is 22% cheaper for renters. A 2-bedroom rents for $836/mo vs $1,021/mo in Richmond — saving $2,220/year.
Rent by Unit Size
| Unit Size | Knoxville | Richmond | Difference |
|---|---|---|---|
| Studio | $566 | $669 | $103 |
| 1 Bedroom | $693 | $842 | $149 |
| 2 Bedrooms | $836 | $1,021 | $185 |
| 3 Bedrooms | $1,106 | $1,317 | $211 |
| 4 Bedrooms | $1,220 | $1,453 | $233 |
| Median Income | $54,020 | $69,914 | $15,894 |
Knoxville
- Studio
- $566/mo
- 1 BR
- $693/mo
- 2 BR
- $836/mo
- 3 BR
- $1,106/mo
- 4 BR
- $1,220/mo
- Median Income
- $54,020/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 Knoxville or Richmond cheaper to rent in?
Knoxville is cheaper — a 2-bedroom Fair Market Rent is $836/mo vs $1,021/mo in Richmond. That's $185/mo or $2,220/year more expensive in Richmond (22% higher).
What is the 2-bedroom rent in Knoxville vs Richmond?
The HUD Fair Market Rent for a 2-bedroom in Knoxville is $836/month. In Richmond, a 2-bedroom FMR is $1,021/month.
How do incomes compare between Knoxville and Richmond?
The median household income in Knoxville is $54,020/year. In Richmond it is $69,914/year. Richmond has the higher median income.
What is the studio rent in Knoxville vs Richmond?
A studio apartment Fair Market Rent in Knoxville is $566/mo. In Richmond it is $669/mo.