Cost of Living in Richmond, VA
|Cost of Living in Richmond, VA||Compared to State Average||Compared to National Average|
|Housing (Buy and Rent)||16% lower||13% lower|
|Utilities (Monthly)||3% higher||5% higher|
|Transportation||5% higher||3% lower|
|Goods & Services||1% higher||2% higher|
The cost of living in Richmond, VA is 4% lower than the state average and 3% lower than the national average. Richmond, VA housing is 13% cheaper than the U.S average, while utilities are about 5% pricier. When it comes to basic necessities such as food and clothing, groceries are around 2% more in Richmond, VA than in the rest of the country, while clothing costs around 2% more .
Healthcare services such as doctor check-ups and dentistry cost 1% more here compared to the U.S. average. At the same time, non-necessary expenses such as entertainment and grooming services are 2% pricier in Richmond, VA.
Housing is the most significant expense for most American households. The cost of living in a certain city takes into account both the price of rent and the price of a home. The average monthly rent in Richmond is $1,476, while home prices circle around $383,846.
Both owning and renting come with utility expenses. These costs include basic services such as energy and telecommunications. In Richmond, energy bills cost around $200.20 per month.
Food is the most important necessity and its cost varies around the country. This section includes the prices of everyday foods such as produce, meat and dairy. A bottle of milk costs about $2.72 in Richmond, a dozen eggs go for around $2.34 and a pound of potatoes circles around $3.93.
The benchmark for this category is based on the prices of family doctor visits and specialized services such as optometry. In Richmond, an optometry check-up costs around $115.40, while a dentist appointment is priced $103.26 on average.
Transportation expenses depend on multiple factors, with fuel being the most important. A gallon of gas is priced around $3.52 in Richmond, while getting your tires balanced will run you about $59.63.
The cost of clothing tells you how much more or less money you need to buy basic items such as jeans, shirts or slacks in a new city. A men's shirt costs around $28.64 here. Meanwhile, a pair of women's slacks will set you back around $22.04.
The cost of entertainment and everyday services is based on common expenses in each category. For a movie ticket in Richmond, you should budget around $12.35 a month. When it comes to personal services, a haircut usually goes for $23.75, while dry cleaning costs about $13.61.
The cost of living also takes median household income into account, so you can estimate how much more or less you could be earning in a new city by comparing it to the income in your current area. In Richmond, the median household income is $54,795.