Lafayette vs Richmond
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Lafayette is 38% cheaper for renters. A 2-bedroom rents for $741/mo vs $1,021/mo in Richmond — saving $3,360/year.
Rent by Unit Size
| Unit Size | Lafayette | Richmond | Difference |
|---|---|---|---|
| Studio | $502 | $669 | $167 |
| 1 Bedroom | $626 | $842 | $216 |
| 2 Bedrooms | $741 | $1,021 | $280 |
| 3 Bedrooms | $958 | $1,317 | $359 |
| 4 Bedrooms | $1,134 | $1,453 | $319 |
| Median Income | $38,989 | $69,914 | $30,925 |
Lafayette
- Studio
- $502/mo
- 1 BR
- $626/mo
- 2 BR
- $741/mo
- 3 BR
- $958/mo
- 4 BR
- $1,134/mo
- Median Income
- $38,989/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 Lafayette or Richmond cheaper to rent in?
Lafayette is cheaper — a 2-bedroom Fair Market Rent is $741/mo vs $1,021/mo in Richmond. That's $280/mo or $3,360/year more expensive in Richmond (38% higher).
What is the 2-bedroom rent in Lafayette vs Richmond?
The HUD Fair Market Rent for a 2-bedroom in Lafayette is $741/month. In Richmond, a 2-bedroom FMR is $1,021/month.
How do incomes compare between Lafayette and Richmond?
The median household income in Lafayette is $38,989/year. In Richmond it is $69,914/year. Richmond has the higher median income.
What is the studio rent in Lafayette vs Richmond?
A studio apartment Fair Market Rent in Lafayette is $502/mo. In Richmond it is $669/mo.