Palm Bay-Melbourne-Titusville vs Richmond
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Richmond is 4% cheaper for renters. A 2-bedroom rents for $1,021/mo vs $1,057/mo in Palm Bay-Melbourne-Titusville — saving $432/year.
Rent by Unit Size
| Unit Size | Palm Bay-Melbourne-Titusville | Richmond | Difference |
|---|---|---|---|
| Studio | $712 | $669 | $43 |
| 1 Bedroom | $871 | $842 | $29 |
| 2 Bedrooms | $1,057 | $1,021 | $36 |
| 3 Bedrooms | $1,335 | $1,317 | $18 |
| 4 Bedrooms | $1,531 | $1,453 | $78 |
| Median Income | $62,156 | $69,914 | $7,758 |
Palm Bay-Melbourne-Titusville
- Studio
- $712/mo
- 1 BR
- $871/mo
- 2 BR
- $1,057/mo
- 3 BR
- $1,335/mo
- 4 BR
- $1,531/mo
- Median Income
- $62,156/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 Palm Bay-Melbourne-Titusville or Richmond cheaper to rent in?
Richmond is cheaper — a 2-bedroom Fair Market Rent is $1,021/mo vs $1,057/mo in Palm Bay-Melbourne-Titusville. That's $36/mo or $432/year more expensive in Palm Bay-Melbourne-Titusville (4% higher).
What is the 2-bedroom rent in Palm Bay-Melbourne-Titusville vs Richmond?
The HUD Fair Market Rent for a 2-bedroom in Palm Bay-Melbourne-Titusville is $1,057/month. In Richmond, a 2-bedroom FMR is $1,021/month.
How do incomes compare between Palm Bay-Melbourne-Titusville and Richmond?
The median household income in Palm Bay-Melbourne-Titusville is $62,156/year. In Richmond it is $69,914/year. Richmond has the higher median income.
What is the studio rent in Palm Bay-Melbourne-Titusville vs Richmond?
A studio apartment Fair Market Rent in Palm Bay-Melbourne-Titusville is $712/mo. In Richmond it is $669/mo.