Richmond vs Salem
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Richmond is 11% cheaper for renters. A 2-bedroom rents for $1,021/mo vs $1,137/mo in Salem — saving $1,392/year.
Rent by Unit Size
| Unit Size | Richmond | Salem | Difference |
|---|---|---|---|
| Studio | $669 | $741 | $72 |
| 1 Bedroom | $842 | $913 | $71 |
| 2 Bedrooms | $1,021 | $1,137 | $116 |
| 3 Bedrooms | $1,317 | $1,411 | $94 |
| 4 Bedrooms | $1,453 | $1,615 | $162 |
| Median Income | $69,914 | $53,953 | $15,961 |
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
Salem
- Studio
- $741/mo
- 1 BR
- $913/mo
- 2 BR
- $1,137/mo
- 3 BR
- $1,411/mo
- 4 BR
- $1,615/mo
- Median Income
- $53,953/yr
Frequently Asked Questions
Is Richmond or Salem cheaper to rent in?
Richmond is cheaper — a 2-bedroom Fair Market Rent is $1,021/mo vs $1,137/mo in Salem. That's $116/mo or $1,392/year more expensive in Salem (11% higher).
What is the 2-bedroom rent in Richmond vs Salem?
The HUD Fair Market Rent for a 2-bedroom in Richmond is $1,021/month. In Salem, a 2-bedroom FMR is $1,137/month.
How do incomes compare between Richmond and Salem?
The median household income in Richmond is $69,914/year. In Salem it is $53,953/year. Richmond has the higher median income.
What is the studio rent in Richmond vs Salem?
A studio apartment Fair Market Rent in Richmond is $669/mo. In Salem it is $741/mo.