Rents are 7% below what Richmond's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,813 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 →
12-month history
Last updated: October 17, 2026
What the numbers show
February. Asking rents in Richmond usually run 0.5% below trend in February and 0.8% above it in July, about $24 a month apart at today's median. Based on 11 years of data.
Rent in Richmond is 1.6% below its high of $1,842 in November 2024, at $1,813 as of September 2026.
Rent in Richmond changed +0.4% over the year to September 2026. Across the 224 Texas cities Zillow tracks, the typical change was +1.0%.
From 2019 to 2024, rent in Richmond rose 28% while median household income rose 16.9% ($43,071 to $50,337). Rent outpaced income.
Rent in Richmond is 24.7% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 2 months in a row, and rose in 7 of the last 12 months.
30% of the median household income ($50,337) is $1,258 a month. That is less than HUD's Fair Market Rent for a studio ($1,630).
Pecan Grove, 3 miles away, rents for 21% less ($1,440/mo), about $4,500 a year in savings.
From Zillow's monthly rent index (ZORI) for Richmond. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Richmond, TX has changed in 5 years
Compared with 2021, rent in Richmond, TX has increased by $263 per month, settling near $1,813 after starting the period at $1,550. 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 21.3 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.
Discussions about Richmond
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Can you afford rent in Richmond on your salary?
At $1,813/mo, how Richmond rent compares to typical pay (30% rule).
Richmond rent by bedroom count
Median rent for each apartment size in Richmond. Click any size for full breakdown.
Tips for renters in Richmond
Last updated: October 17, 2026
The median rent in Richmond is $1,813/mo as of October 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 43% of local median household income ($50,337/yr), Richmond ranks as moderate compared to the national benchmark of 30%. Rents have increased 0.4% over the past year.
Frequently asked questions
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Which nearby cities are cheaper to rent in than Richmond?
At $1,813/mo, rent takes ~43% of Richmond's median household income ($50,337/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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