Richmond vs Springfield
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Springfield is 35% cheaper for renters. A 2-bedroom rents for $756/mo vs $1,021/mo in Richmond — saving $3,180/year.
Rent by Unit Size
| Unit Size | Richmond | Springfield | Difference |
|---|---|---|---|
| Studio | $669 | $519 | $150 |
| 1 Bedroom | $842 | $612 | $230 |
| 2 Bedrooms | $1,021 | $756 | $265 |
| 3 Bedrooms | $1,317 | $923 | $394 |
| 4 Bedrooms | $1,453 | $1,067 | $386 |
| Median Income | $69,914 | $44,958 | $24,956 |
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
- $519/mo
- 1 BR
- $612/mo
- 2 BR
- $756/mo
- 3 BR
- $923/mo
- 4 BR
- $1,067/mo
- Median Income
- $44,958/yr
Frequently Asked Questions
Is Richmond or Springfield cheaper to rent in?
Springfield is cheaper — a 2-bedroom Fair Market Rent is $756/mo vs $1,021/mo in Richmond. That's $265/mo or $3,180/year more expensive in Richmond (35% 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 $756/month.
How do incomes compare between Richmond and Springfield?
The median household income in Richmond is $69,914/year. In Springfield it is $44,958/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 $519/mo.