Richmond vs Winston-Salem
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Winston-Salem is 27% cheaper for renters. A 2-bedroom rents for $807/mo vs $1,021/mo in Richmond — saving $2,568/year.
Rent by Unit Size
| Unit Size | Richmond | Winston-Salem | Difference |
|---|---|---|---|
| Studio | $669 | $531 | $138 |
| 1 Bedroom | $842 | $652 | $190 |
| 2 Bedrooms | $1,021 | $807 | $214 |
| 3 Bedrooms | $1,317 | $1,030 | $287 |
| 4 Bedrooms | $1,453 | $1,189 | $264 |
| Median Income | $69,914 | $47,140 | $22,774 |
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
Winston-Salem
- Studio
- $531/mo
- 1 BR
- $652/mo
- 2 BR
- $807/mo
- 3 BR
- $1,030/mo
- 4 BR
- $1,189/mo
- Median Income
- $47,140/yr
Frequently Asked Questions
Is Richmond or Winston-Salem cheaper to rent in?
Winston-Salem is cheaper — a 2-bedroom Fair Market Rent is $807/mo vs $1,021/mo in Richmond. That's $214/mo or $2,568/year more expensive in Richmond (27% higher).
What is the 2-bedroom rent in Richmond vs Winston-Salem?
The HUD Fair Market Rent for a 2-bedroom in Richmond is $1,021/month. In Winston-Salem, a 2-bedroom FMR is $807/month.
How do incomes compare between Richmond and Winston-Salem?
The median household income in Richmond is $69,914/year. In Winston-Salem it is $47,140/year. Richmond has the higher median income.
What is the studio rent in Richmond vs Winston-Salem?
A studio apartment Fair Market Rent in Richmond is $669/mo. In Winston-Salem it is $531/mo.