Cost of living, Richmond
97.9
BEA Regional Price Parity vs US average of 100 (2024). Richmond sits about 2.1% below national prices.
BLS OEWS median, May 2025, as of May 15, 2026. BEA RPP all-items, 2024. Disclaimer
- vs US
- −2.1%
- Metro
- Richmond
- CBSA
- 40060
Richmond all-items RPP is 97.9 (2024), about 2.1% below US-average prices. A $90,000 salary at national prices maps to about $88,110 here for equal purchasing power.
Price components in Richmond
| Component | Richmond | US |
|---|---|---|
| All items | 97.9 | 100 |
| Goods | 96.8 | 100 |
| Housing (rents) | 99.1 | 100 |
| Other services | 98.6 | 100 |
BEA Regional Price Parities 2024, US = 100.
What a US-average salary buys in Richmond
| At US average | In Richmond |
|---|---|
| $60,000 | $58,740 |
| $90,000 | $88,110 |
| $150,000 | $146,850 |
Local equivalent = national salary × (97.9 ÷ 100). BEA RPP 2024.
Top wages here
FAQ
- What is the cost of living in Richmond?
- The BEA Regional Price Parity (all items, 2024) for Richmond, VA is 97.9, versus a US average of 100 (−2.1%).
- How is RPP different from CPI?
- CPI tracks price change over time. RPP compares price levels across places in a given year versus the national average of 100. PayByCity uses RPP for cross-metro purchasing power, including goods, housing rents, and other services components.
- How should I use this with OEWS wages?
- Pair local BLS OEWS medians (May 2025) with this RPP. A $90,000 salary at US-average prices maps to about $88,110 in Richmond for equal purchasing power.
- Does this include taxes or housing alone?
- No. All-items RPP is a broad price-level index. Component indexes show goods, rents, and other services separately, but this is not a rent quote, tax estimate, or household budget.
What this covers
Includes
- BEA Regional Price Parities (all items, goods, housing rents, other services)
- BLS OEWS median wages, percentile bands, and employment where published
- Purchasing-power math: salary × (destination RPP ÷ origin RPP)
Does not include
- Federal, state, or local income taxes
- Childcare, healthcare premiums, or leave benefits
- Job openings. OEWS employment is a published stock estimate, not hiring demand
Highest wages here
- Chief Executives , 820 OEWS emp. $326,160
- Physicians, All Other , 1,760 OEWS emp. $284,090
- Computer and Information Systems Managers , 1,900 OEWS emp. $180,640
- Marketing Managers , 1,090 OEWS emp. $174,130
- Financial Managers , 3,480 OEWS emp. $173,140
- Sales Managers , 1,320 OEWS emp. $168,590
See methodology and disclaimer.