Pay and tax
Richmond, VA Cost of Living Calculator
Prices in the Richmond, VA area are 2.1% below the US average, and housing 0.9% below (BEA, 2024). Compare a salary here with anywhere else.
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Richmond, VA price levels by category (US average = 100)
| Category | Price level | Against the US |
|---|---|---|
| All items | 97.9 | 2.1% below |
| Housing | 99.1 | 0.9% below |
| Goods | 96.8 | 3.2% below |
| Utilities | 89.2 | 10.8% below |
| Other services | 98.6 | 1.4% below |
What $75,000 in Richmond, VA equals in other large metros
| Metro area | Equivalent salary | Prices |
|---|---|---|
| New York, NY | $86,261 | 15.0% |
| Los Angeles, CA | $87,028 | 16.0% |
| Chicago, IL | $79,367 | 5.8% |
| Dallas, TX | $78,984 | 5.3% |
| Houston, TX | $75,536 | 0.7% |
| Washington, DC | $83,427 | 11.2% |
| Philadelphia, PA | $78,601 | 4.8% |
| Atlanta, GA | $76,685 | 2.2% |
| Miami, FL | $87,487 | 16.6% |
| Phoenix, AZ | $79,137 | 5.5% |
How this calculator works
BEA regional price parities for the Richmond, VA metropolitan area, 2024: the price of the same basket of goods and services against the US average (100). Equivalent salaries scale by the ratio of the two areas' price levels.
Questions people ask
Is Richmond expensive to live in?
Overall prices are 2.1% below the US average; housing is 0.9% below.
What salary do I need in Richmond, VA?
To match $75,000 in an average-cost place, about $73,425. The area's median household income is $86,679.
How much is rent in Richmond, VA?
The median gross rent (including utilities) is $1,447 a month (Census American Community Survey 2020–2024 5-year estimates).
How does Richmond, VA compare with New York?
New York prices are 15.0% relative to Richmond, VA: $75,000 here equals $86,261 there.
Nearby and large metro areas
Related calculators
Sources
- BEA: Regional price parities by metro area, 2024
- US Census Bureau: American Community Survey 2020–2024 5-year estimates (median rent B25064, income B19013)
Updated by the RateHerald team. The maths is tested against worked examples; report a problem.