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City Report · TX

Richmond

Pop. 12,582·80th most expensive in Texas·Richmond rents are up 6.5% over the past year
Median rent (all units)
$1,833/mo
Year-over-Year
+6.5%
Month-over-Month
+2.5%
vs US Median
-$129
Rising (Monthly)
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Most AffordableMost Expensive
Richmond · $1,833
More affordable than 52% of US cities · National median $1,962/mo
Rent Reality Score
52/100
Fairly priced
OverheatedFairGreat value

Rents are right about where Richmond's 10-year trend predicts.

Actual rent
$1,833/mo
Expected by trend
$1,852/mo
The Rent Reality Score compares today's median rent to where Richmond's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$1,630
1 BR
$1,705
2 BR
$2,035
3 BR
$2,710
4 BR+
$3,415
Fair Market Rent (HUD)
$2,035/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,833 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$21,996/yr
At $1,833/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 6.5% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+6.5% YoY, +2.5% MoM), not inventory.
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Demographics

Who lives here

Richmond, TX is roughly split between renters and owners, skews toward younger working-age adults, has a median income below the national average, 18.9% of residents hold a bachelor's degree or higher.

Population
12,582
Median income
$50,337
Median age
36.6
Renters
46.5%
Age distribution
15.3%
33.3%
22.1%
12.6%
16.7%
Under 1815.3%
18–3433.3%
35–5422.1%
55–6412.6%
65+16.7%
Gender
52.9%
47.1%
Male52.9%
Female47.1%
Race & ethnicity
32.5%
23.1%
49%
White32.5%
Black23.1%
Hispanic49%
Asian4.6%
Education (25+)
23.8%
24.8%
32.4%
18.9%
No HS diploma23.8%
HS diploma24.8%
Some college32.4%
Bachelor's+18.9%
Housing tenure
53.5%
46.5%
Owner53.5%
Renter46.5%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Richmond, TX has changed in 5 years

Rent
$1,439 → $1,833
up 27.4%
Income
$52,589 → $50,337
down 4.3%
Population
11,768 → 12,582
up 6.9%
Renter share
40.3% → 46.5%
+6.2 pts
Bachelor's+
18% → 18.9%
+0.9 pts
Median age
33.7 → 36.6
+2.9 yrs

Compared with 2021, rent in Richmond, TX has increased by $394 per month, settling near $1,833 after starting the period at $1,439. Local incomes tracked alongside that move, going from a median of $52,589 in 2021 to $50,337 more recently. Rent outpaced income growth by roughly 31.7 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 11,768 to 12,582 between 2021 and 2024, a 6.9% change. About 46.5% of households rent today, against 40.3% in 2021. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the Richmond, TX market of 2021.

Community

Discussions about Richmond

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View Richmond rent history (2015–2026) →
Salary vs rent

Can you afford rent in Richmond on your salary?

At $1,833/mo, how Richmond rent compares to typical pay (30% rule).

By apartment size

Richmond rent by bedroom count

Median rent for each apartment size in Richmond. Click any size for full breakdown.

Local insights

Tips for renters in Richmond

About renting in Richmond, TX

Last updated: August 17, 2026

The median rent in Richmond is $1,833/mo as of August 2026. A studio apartment averages $1,630/mo while a 2-bedroom runs $2,035/mo. One-bedroom apartments average $1,705/mo and 3-bedroom units go for $2,710/mo.

At 44% of local median household income ($50,337/yr), Richmond ranks as moderate compared to the national benchmark of 30%. Rents have increased 6.5% over the past year.

FAQ

Frequently asked questions

Is Richmond an affordable city for renters?

Richmond is considered stretched for renters. At $1,833/mo, rent takes approximately 44% of the local median household income ($50,337/yr). The standard benchmark is 30%. Richmond significantly exceeds that threshold, making it challenging for many renters.

How much income do you need to rent in Richmond?

To keep rent at or below 30% of gross income, you would need to earn at least $73,000/year (~$35/hour full-time) to afford the median rent of $1,833/mo in Richmond. The local median household income is $50,337/yr, meaning the typical Richmond household falls short of that threshold.

Is rent going up or down in Richmond?

Rent in Richmond has increased 6.5% over the past year as of August 2026, putting upward pressure on renter budgets.

Which Richmond neighborhoods have the lowest rent?

The most affordable ZIP codes in Richmond are 77407 ($1,725/mo), and 77406 ($1,840/mo). Citywide, the median rent in Richmond is $1,833/mo.

How does Richmond rent compare to other cities in Texas?

Richmond is one of the pricier cities in Texas for rent, ranking #80 out of 267 tracked cities at $1,833/mo.

Which nearby cities are cheaper to rent in than Richmond?

Pecan Grove is nearby and more affordable at $1,561/mo, which is $272 less than Richmond.

What percentage of Richmond residents rent vs. own?

According to Census data, approximately 46.5% of Richmond households are renters, while 53.5% are owner-occupied. Richmond leans toward homeownership, which can mean a smaller rental inventory.

How does Richmond rent compare to the national average?

Richmond's median rent of $1,833/mo is $129 (7%) below the US national median of $1,962/mo. Within Texas, it ranks #80 out of 267 tracked cities.
Income Affordability
44%
STRETCHED

At $1,833/mo, rent takes ~44% of Richmond's median household income ($50,337/yr). The standard benchmark is 30%.

Richmond 44%Benchmark 30%
State income taxNone
Run the Richmond affordability calculator →
Lowest-rent ZIP codes in Richmond
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Richmond, TX

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