Richmond vs Salt Lake City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Richmond is 10% cheaper for renters. A 2-bedroom rents for $1,021/mo vs $1,127/mo in Salt Lake City — saving $1,272/year.
Rent by Unit Size
| Unit Size | Richmond | Salt Lake City | Difference |
|---|---|---|---|
| Studio | $669 | $754 | $85 |
| 1 Bedroom | $842 | $912 | $70 |
| 2 Bedrooms | $1,021 | $1,127 | $106 |
| 3 Bedrooms | $1,317 | $1,352 | $35 |
| 4 Bedrooms | $1,453 | $1,632 | $179 |
| Median Income | $69,914 | $77,224 | $7,310 |
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
Salt Lake City
- Studio
- $754/mo
- 1 BR
- $912/mo
- 2 BR
- $1,127/mo
- 3 BR
- $1,352/mo
- 4 BR
- $1,632/mo
- Median Income
- $77,224/yr
Frequently Asked Questions
Is Richmond or Salt Lake City cheaper to rent in?
Richmond is cheaper — a 2-bedroom Fair Market Rent is $1,021/mo vs $1,127/mo in Salt Lake City. That's $106/mo or $1,272/year more expensive in Salt Lake City (10% higher).
What is the 2-bedroom rent in Richmond vs Salt Lake City?
The HUD Fair Market Rent for a 2-bedroom in Richmond is $1,021/month. In Salt Lake City, a 2-bedroom FMR is $1,127/month.
How do incomes compare between Richmond and Salt Lake City?
The median household income in Richmond is $69,914/year. In Salt Lake City it is $77,224/year. Salt Lake City has the higher median income.
What is the studio rent in Richmond vs Salt Lake City?
A studio apartment Fair Market Rent in Richmond is $669/mo. In Salt Lake City it is $754/mo.