Richmond Fair Market Rent 2026
HUD Fair Market Rent data for the Richmond metropolitan area. Median household income: $69,914/year. Vacancy rate: 7.6%.
2BR FMR
$1,021/mo
Median Income
$69,914
Vacancy Rate
7.6%
Rent Burden
17.5%
Fair Market Rent by Bedroom Size
Affordability Analysis
Based on the 30% rule, a household earning the median income of $69,914/year can afford up to $1,748/mo in rent.
The 2BR FMR of $1,021/mo represents 17.5% of median income, which is within the 30% affordability threshold.
Rental Market Conditions
The vacancy rate of 7.6% in Richmond indicates a loose rental market. Higher vacancy gives renters more options and potential leverage on pricing.
Frequently Asked Questions
What is the average rent in Richmond?
The 2026 HUD FMR for a 2-bedroom in the Richmond metro area is $1,021/month. 1BR: $842, 3BR: $1,317.
What is the vacancy rate in Richmond?
The rental vacancy rate in Richmond is 7.6%. A rate below 5% typically indicates a tight rental market.
Is Richmond affordable for renters?
With a median income of $69,914 and 2BR rent at $1,021/mo, rent takes about 18% of income in Richmond.
Compare with Other Metro Areas
San Jose-Sunnyvale-Santa Clara
2BR: $2,412/mo
New York-Newark-Jersey City
2BR: $2,293/mo
San Francisco-Oakland-Berkeley
2BR: $2,200/mo
Honolulu
2BR: $1,937/mo
Los Angeles-Long Beach-Anaheim
2BR: $1,888/mo
San Diego-Chula Vista-Carlsbad
2BR: $1,856/mo
Oxnard-Thousand Oaks-Ventura
2BR: $1,761/mo
Santa Cruz-Watsonville
2BR: $1,760/mo
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