Richmond vs Sioux Falls
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Sioux Falls is 22% cheaper for renters. A 2-bedroom rents for $837/mo vs $1,021/mo in Richmond — saving $2,208/year.
Rent by Unit Size
| Unit Size | Richmond | Sioux Falls | Difference |
|---|---|---|---|
| Studio | $669 | $544 | $125 |
| 1 Bedroom | $842 | $672 | $170 |
| 2 Bedrooms | $1,021 | $837 | $184 |
| 3 Bedrooms | $1,317 | $1,012 | $305 |
| 4 Bedrooms | $1,453 | $1,129 | $324 |
| Median Income | $69,914 | $55,443 | $14,471 |
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
Sioux Falls
- Studio
- $544/mo
- 1 BR
- $672/mo
- 2 BR
- $837/mo
- 3 BR
- $1,012/mo
- 4 BR
- $1,129/mo
- Median Income
- $55,443/yr
Frequently Asked Questions
Is Richmond or Sioux Falls cheaper to rent in?
Sioux Falls is cheaper — a 2-bedroom Fair Market Rent is $837/mo vs $1,021/mo in Richmond. That's $184/mo or $2,208/year more expensive in Richmond (22% higher).
What is the 2-bedroom rent in Richmond vs Sioux Falls?
The HUD Fair Market Rent for a 2-bedroom in Richmond is $1,021/month. In Sioux Falls, a 2-bedroom FMR is $837/month.
How do incomes compare between Richmond and Sioux Falls?
The median household income in Richmond is $69,914/year. In Sioux Falls it is $55,443/year. Richmond has the higher median income.
What is the studio rent in Richmond vs Sioux Falls?
A studio apartment Fair Market Rent in Richmond is $669/mo. In Sioux Falls it is $544/mo.