Mio District West
7222 S Peek Rd,
Richmond, TX 77407
Studio - 3 Beds | $1,379 - $2,509
Rental Market Trends in Richmond, TX
What is the average rent in Richmond, TX?
$1,324/month
Average Rent
770 Sq Ft
Average Apartment Size
-1.3%
Decrease in the Last Year
As of April 2025, the average rent in Richmond, TX is $1,324 per month. This is 16% lower than the national average rent of $1,577/month, making renting in Richmond more affordable than most cities in the US. When you rent an apartment in Richmond, you can expect to pay about $923 per month for a studio, $1,324 for a one-bedroom apartment, and around $1,770 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,290 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Richmond, TX?
In the past year, rent has decreased by 1.3%, which averages out to $17 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated April 2025
Legend
2024
2025
Rent Ranges in Richmond, TX
Last Updated April 2025
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
15%
$700 - $1,000/month
34%
$1,001 - $1,500/month
45%
$1,501 - $2,000/month
6%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Richmond?
Based on current rent prices, Grand Mission, Waterside and Aliana are the most affordable neighborhoods in Richmond.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Richmond?
Based on current rent prices, Lakemont, Greatwood and Pecan Grove are the most expensive neighborhoods in Richmond.
Neighborhood
Average Rent
Average Sq Ft
Which Richmond neighborhoods have the most rentals available?
The neighborhoods in Richmond with the most apartments available are Lakemont, Richmond/Rosenberg and Aliana .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Richmond, TX?
Because the average rent in Richmond is $1,324, you’ll want to make about $4,413 per month or $52,956 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Richmond, TX compare to other nearby cities and neighborhoods?
Use the tool below to compare Richmond, TX to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$970/month
$1,407/month
One Bedroom
$1,419/month
$1,373/month
Two Bedroom
$1,730/month
$1,917/month
Three Bedroom
$2,345/month
$2,561/month
Nearby City Rent Trends
Apartment communities in Richmond we think you'll love
Property Management Companies in Richmond, TX
Greystar
-
3,236
Communities
-
899,351
Units
-
838
Cities
9 Communities in Richmond
RPM
-
613
Communities
-
162,169
Units
-
237
Cities
5 Communities in Richmond
Avenue5 Residential
-
523
Communities
-
115,470
Units
-
205
Cities
2 Communities in Richmond
Cortland
-
173
Communities
-
63,771
Units
-
89
Cities
2 Communities in Richmond
Allied Orion
-
77
Communities
-
249,648
Units
-
39
Cities
2 Communities in Richmond
BSR Real Estate Investment Trust
-
28
Communities
-
8,083
Units
-
19
Cities
2 Communities in Richmond
Willow Bridge
-
687
Communities
-
186,027
Units
-
315
Cities
1 Community in Richmond
BH
-
336
Communities
-
92,479
Units
-
197
Cities
1 Community in Richmond
Learn More with Helpful Articles
Rental management, simplified
Our all-in-one suite of property manangement software makes the rental process easy. Screen tenants, manage payments, and more – all on Apartments.com
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2025.
* Percentages may not total 100 due to rounding.