Richmond, Virginia has an overall cost of living index of 98.3, which is 1.7 points below the US average of 100 — making it about average versus most American cities. Renters pay a median of $1,372 per month, while the typical home is valued around $353,000. Households earn a median of $64,587 per year, leaving rent at a manageable share of income for many residents. Air quality is good, with an average AQI of 28. Below: housing costs, local wages by occupation, neighborhoods, climate, jobs and major industries, and healthcare access — all drawn from US Census, BEA, BLS, HUD, EPA, and NOAA data.
$64,587
Median Income / yr
Census ACS
$1,372
Median Rent / mo
Census ACS
$353,000
Median Home Value
Census ACS
98.3
Cost of Living Index
Studio FMR
$1,442
HUD · FY2024
1BR Fair Market Rent
$1,507
HUD · FY2024
2BR Fair Market Rent
$1,655
HUD · FY2024
3BR Fair Market Rent
$2,072
HUD · FY2024
Fair Market Rent is the 40th percentile of gross rents in the metro area · HUD FY2024
Each category indexed to the US average of 100. Below 100 = cheaper than average.
Overall
98.3
Goods
97.1
Rents / Housing
101.0
Services
88.8
Source: BEA Regional Price Parities (metro-level)
| Occupation | Median Annual Wage |
|---|---|
| Software Developer | $131,430 |
| Registered Nurse | $90,530 |
| Elementary Teacher | $61,040 |
| Electrician | $60,820 |
| Accountant | $88,120 |
| Plumber | $58,810 |
| Nurse Practitioner | $259,650 |
| Civil Engineer | $97,900 |
| Operations Manager | $131,520 |
| Market Research Analyst | $95,450 |
| Health Services Manager | $142,970 |
| Truck Driver | $62,140 |
| Physician Assistant | N/A |
| Surgeon | N/A |
| Data Scientist | N/A |
| Computer Engineer | $126,130 |
Source: BLS OEWS 2023 (metro-level data)
Population
229,359
Latest estimate
Median Age
34.7 yrs
Census ACS
28.0
Good0 = clean · 50 = moderate boundary · lower is better
Source: EPA AirNow
Total Neighborhoods
17
Tracked in our database
Avg Walk Score
N/A
0–100 scale
Avg Median Rent
$1,329
Per month
Avg Home Value
$318,814
Census ACS
| Neighborhood | Walk Score | Median Rent | Home Value |
|---|---|---|---|
| ZIP 23113 | — | $1,599 | $556,100 |
| ZIP 23173 | — | — | — |
| ZIP 23219 | — | $1,310 | $242,300 |
| ZIP 23220 | — | $1,276 | $426,000 |
| ZIP 23221 | — | $1,434 | $515,500 |
| ZIP 23222 | — | $1,134 | $219,900 |
| ZIP 23223 | — | $1,173 | $217,000 |
| ZIP 23224 | — | $1,167 | $166,600 |
| ZIP 23225 | — | $1,198 | $282,100 |
| ZIP 23226 | — | $1,693 | $476,600 |
Showing top 10 of 17 tracked neighborhoods.
January Avg
39°F
July Avg
80°F
Sunny Days / Year
—
Annual Snowfall
—
Climate category: Temperate · Source: NOAA/NCEI 30-year normals.
Healthcare Score
31.4
poor
Hospitals
6
Doctors per 1,000
1.00
Insurance Coverage
91.2%
Richmond has a Regional Price Parity (RPP) index of 98.3. The US national average is 100, so Richmond is 1.7 points below the national average.
The median gross rent in Richmond is $1,372 per month according to US Census ACS data.
The median household income in Richmond is $64,587 per year.
The median home value in Richmond is $353,000 based on the latest Census ACS survey.
Richmond has an average Air Quality Index (AQI) of 28.0, which is rated "Good" by the EPA. Lower AQI values indicate cleaner air.
Tax data for Virginia is not yet available.
Data last updated: June 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
