Average Rent in Richmond, RI (2026)
The average 1-bedroom rent in Richmond, RI is $1,640/month as of 2026, based on HUD data across 6 ZIP codes. Rents have changed +2.8% year over year. Rents range from $1,310 to $1,840.
Average Rent · 1-Bedroom
$1,640/mo
Source: HUD Fair Market Rent · 6 zip codes
Year-over-Year
↑ +2.8%
Source: HUD Fair Market Rent
Data through
The average 1-bedroom rent in Richmond, RI is $1,640/month according to HUD FY2026 Fair Market Rent data, covering 6 ZIP codes. Rents have increased 2.8% year-over-year. The average 1-bedroom rent in Richmond is 37% above the national average of $1,196/month.
Average rent in Richmond, RI ranges from $1,310 to $1,840 across 6 ZIP codes.
Based on HUD Fair Market Rent, a fair rent increase in Richmond, RI is approximately 2.8% for 2026. An increase above 2.8% exceeds the local market trend and may be worth negotiating.
Key Facts
Sources: HUD Fair Market Rent, HUD SAFMR, Rentcast. Updated October 2025.
Market trend data is limited for this area. The analysis below uses federal rent benchmarks.
How much is rent in Richmond, RI?
The average 1-bedroom rent in Richmond, RI is $1,640/month as of 2026, based on HUD data across 6 ZIP codes. Rents range from $1,310 to $1,840 depending on neighborhood — a $530/month spread. To afford this at the 30% rule, a household would need approximately $65,600/year.
Is rent going up in Richmond?
Rents in Richmond have increased 2.8% year over year based on HUD Fair Market Rent. This suggests a relatively stable rental market.
What is a fair rent increase in Richmond?
Based on HUD Fair Market Rent, a rent increase around 2.8% is in line with the Richmond market for 2026. An increase above that level exceeds the local trend and may be worth pushing back on. Check your specific increase with RenewalReply's free rent analysis tool.
What Should Rent Cost in Richmond?
Typical rent ranges based on HUD benchmarks and market data. In areas with limited listing data, ranges reflect federal benchmarks and may be wider than actual market conditions.
A studio in Richmond typically rents for $1,558 – $1,792.
Rents above $2,061 are in the top 25% for this area.
A 1-bedroom in Richmond typically rents for $1,640 – $1,886.
Rents above $2,169 are in the top 25% for this area.
A 2-bedroom in Richmond typically rents for $2,033 – $2,338.
Rents above $2,689 are in the top 25% for this area.
A 3-bedroom in Richmond typically rents for $2,472 – $2,843.
Rents above $3,269 are in the top 25% for this area.
A 4-bedroom in Richmond typically rents for $2,885 – $3,318.
Rents above $3,816 are in the top 25% for this area.
Federal Rent Benchmarks for Richmond
HUD Fair Market Rents are federal rent benchmarks published annually by HUD. They provide a consistent baseline for comparing rents across areas.
Studio
$1,558
HUD Fair Market Rent
1-Bedroom
$1,640
HUD Fair Market Rent
2-Bedroom
$2,033
HUD Fair Market Rent
3-Bedroom
$2,472
HUD Fair Market Rent
4-Bedroom
$2,885
HUD Fair Market Rent
Source: HUD SAFMR FY2026 · Updated
Zip Codes in Richmond
Click any zip code for detailed rent data including zip-specific SAFMR rates, nearby comparables, and a free rent increase check.
SAFMR rates are zip-specific.
How Does Richmond Compare?
Questions about rent in Richmond
What is the average 1-bedroom rent in Richmond, RI?
The average 1-bedroom fair market rent in Richmond, RI is $1,640/month as of 2026, based on HUD rent data across 6 ZIP codes in the city. This is 37% above the national average of $1,196/month. Rents range from $1,310 to $1,840 depending on ZIP code.
What is a fair rent increase in Richmond?
A rent increase up to about 2.8% is broadly in line with the recent market trend in Richmond. Increases above that level are above trend and should be tested against neighborhood-level pricing and comparable rentals. The current average 1-BR rent is $1,640/month.
Are rents going up or down in Richmond?
Rents in Richmond have increased 2.8% year over year based on HUD Fair Market Rent. This reflects local market conditions across 6 ZIP codes in the Westerly-Hopkinton-New Shoreham, RI HUD Metro FMR Area area.
How much do rents vary across Richmond?
1-bedroom rents across Richmond range from $1,310 to $1,840 on this page, a $530/month spread. This shows that rent can vary materially across ZIP codes within the same city, reflecting neighborhood-level differences in housing stock and demand.
Can my landlord raise my rent in Richmond?
We could not identify a city-specific rent cap for Richmond. Landlords must still follow applicable state and local notice rules before raising rent at lease renewal. Requirements vary — check your state's landlord-tenant statute for specifics on notice periods and timing.
How much should I spend on rent in Richmond?
The general guideline is to spend no more than 30% of your gross income on rent. With average 1-bedroom rent in Richmond at $1,640/month, a household would need approximately $65,600/year in gross income to afford this comfortably. Many renters in high-cost areas spend above this threshold — our free tool can help you assess whether your specific rent is fair for your ZIP code.
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Renter Tools
Browse Richmond ZIP Codes
See rent data by ZIP code in this city.
Renter Guides
- How to Negotiate a Rent Increase →
A data-driven guide with free email templates for pushing back on your landlord.
- Rent Increase Laws in Rhode Island →
See notice rules, caps, and tenant protections in Rhode Island.
- What Should I Pay for Rent? →
How to compare rent prices and know if you're getting a fair deal.
Market data updated monthly from public and third-party sources. Actual rents vary by unit, building, and lease terms. For informational purposes only — not legal or financial advice. See methodology →