Richmond vs Springfield
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Springfield is 42% cheaper for renters. A 2-bedroom rents for $720/mo vs $1,021/mo in Richmond — saving $3,612/year.
Rent by Unit Size
| Unit Size | Richmond | Springfield | Difference |
|---|---|---|---|
| Studio | $669 | $490 | $179 |
| 1 Bedroom | $842 | $583 | $259 |
| 2 Bedrooms | $1,021 | $720 | $301 |
| 3 Bedrooms | $1,317 | $925 | $392 |
| 4 Bedrooms | $1,453 | $987 | $466 |
| Median Income | $69,914 | $37,539 | $32,375 |
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
Springfield
- Studio
- $490/mo
- 1 BR
- $583/mo
- 2 BR
- $720/mo
- 3 BR
- $925/mo
- 4 BR
- $987/mo
- Median Income
- $37,539/yr
Frequently Asked Questions
Is Richmond or Springfield cheaper to rent in?
Springfield is cheaper — a 2-bedroom Fair Market Rent is $720/mo vs $1,021/mo in Richmond. That's $301/mo or $3,612/year more expensive in Richmond (42% higher).
What is the 2-bedroom rent in Richmond vs Springfield?
The HUD Fair Market Rent for a 2-bedroom in Richmond is $1,021/month. In Springfield, a 2-bedroom FMR is $720/month.
How do incomes compare between Richmond and Springfield?
The median household income in Richmond is $69,914/year. In Springfield it is $37,539/year. Richmond has the higher median income.
What is the studio rent in Richmond vs Springfield?
A studio apartment Fair Market Rent in Richmond is $669/mo. In Springfield it is $490/mo.