Raleigh-Cary vs Richmond
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Richmond is 7% cheaper for renters. A 2-bedroom rents for $1,021/mo vs $1,097/mo in Raleigh-Cary — saving $912/year.
Rent by Unit Size
| Unit Size | Raleigh-Cary | Richmond | Difference |
|---|---|---|---|
| Studio | $760 | $669 | $91 |
| 1 Bedroom | $928 | $842 | $86 |
| 2 Bedrooms | $1,097 | $1,021 | $76 |
| 3 Bedrooms | $1,435 | $1,317 | $118 |
| 4 Bedrooms | $1,556 | $1,453 | $103 |
| Median Income | $70,678 | $69,914 | $764 |
Raleigh-Cary
- Studio
- $760/mo
- 1 BR
- $928/mo
- 2 BR
- $1,097/mo
- 3 BR
- $1,435/mo
- 4 BR
- $1,556/mo
- Median Income
- $70,678/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 Raleigh-Cary or Richmond cheaper to rent in?
Richmond is cheaper — a 2-bedroom Fair Market Rent is $1,021/mo vs $1,097/mo in Raleigh-Cary. That's $76/mo or $912/year more expensive in Raleigh-Cary (7% higher).
What is the 2-bedroom rent in Raleigh-Cary vs Richmond?
The HUD Fair Market Rent for a 2-bedroom in Raleigh-Cary is $1,097/month. In Richmond, a 2-bedroom FMR is $1,021/month.
How do incomes compare between Raleigh-Cary and Richmond?
The median household income in Raleigh-Cary is $70,678/year. In Richmond it is $69,914/year. Raleigh-Cary has the higher median income.
What is the studio rent in Raleigh-Cary vs Richmond?
A studio apartment Fair Market Rent in Raleigh-Cary is $760/mo. In Richmond it is $669/mo.