See how Richmond compares to other cities by cost of living. | Photo by @stabomediaphotography
With Richmond constantly growing and undertaking multiple high-profile developments this year, we figured it was time to talk about the cost of planting some roots in the River City.
The median household income in the City of Richmond is $51,421 according to the US Census Bureau. State-wise, Virginia is No. 10 in the country for median income at ~$76,398 per household.
The overall cost of living in Richmond is lower than the national average and lower than the rest of the state.
In Richmond, the cost of healthcare is lower compared to other parts of the state + the US. The cost of groceries, housing, transportation, and other miscellaneous expenses in the city have lower average costs than other cities in Virginia and the country overall.
Breaking down the numbers
Hypothetically speaking, if you live in a household that brings in $50,000 annually — according to experts — you shouldn’t spend more than 30% of your monthly gross income on rent and utilities.
Don’t worry, we did the math for you — your max monthly budget would be $1,250. The average monthly rent for an apartment in Richmond is $1,459 — putting you over budget.
According to a recent study by Attom Data Solutions, it’s actually more affordable to buy a home in the City of Richmond than to rent.
Take a look at the chart below to see how Richmond’s cost of living compares to that of Arlington.
Interested in seeing Richmond’s cost of living compared to cities in other states? We played around on nerdwallet’s cost of living calculator, where you can put in any city along with your current pre-tax household income to find out what other cities you could actually afford to live in.
We took a look at the cost of living in Richmond compared to Baltimore, MD. Here’s what we found:
The cost of living is 20% higherin Baltimore.
To maintain our standard of living, we would need to bring in $59,799 to our Charm City household.
The median cost for a two-bedroom apartment is $1,755, which is $650 more than Richmond.
Richmond also has entities such as the Better Housing Coalition + other government-funded programs to help develop more affordable units.
There are also a number of local development firms working on apartments seemingly all the time — from the new 12-story building at Broad and Lombardy Streets to the affordable housing development from Dakota Partners at Brady Square.
“Nope” | Tues., Sept. 27 | 7 p.m. | The Byrd Theatre | $8 | See the latest horror film from director Jordan Peele. 🐴
Wednesday
Wilderado | Wed., Sept. 28 | 7 p.m. | Richmond Music Hall, 619 E. Main St. | $18 | The indie folk band will play with Husbands + Tyler Meacham. 🎶
Midweek Matinees: “No Time to Die” | Wed., Sept. 28 | 2 p.m. | RPL West End Branch, 5420 Patterson Ave. | Free | Snacks are provided at this free screening. 🍿
Freckled Flower Farm Workshop | Wed., Sept. 28 | 5:30 p.m. | Hardywood West Creek, 820 Sanctuary Trail Dr. | $36 | Grab some friends + arrange dahlias, sunflowers, and zinnias. 🌻
Thursday
“The Devil’s Half Acre” Book Signing and Walking Tour | Thurs., Sept. 29 | 5:30 p.m. | The Valentine, 1015 E. Clay St. | $30 | Join author Kristen Green for a meet-and-greet + walking tour of the historic Shockoe Bottom site. 📚
College Jam 2022 | Thurs., Sept. 29 | 3-7 p.m. | Historic Tredegar | Free, RSVP | College students should bring their IDs to chat with Richmond businesses about career opportunities. 💼
PopUp RVA Market | Sat., Oct. 1 | 10 a.m.-3 p.m. | The Diamond | Free entry | Support small businesses at this weekly market which features live music + food trucks. 🛍
History Unfolded: U.S. Newspapers & the Holocaust | Sat., Oct. 1 | 12-2 p.m. | Library of Virginia, 800 E. Broad St. | Free, RSVP | Volunteer to help uncover history by accessing microfilmed newspapers. 🗞
We have amonthly guide filled with events + activities you can plan for in advance. Click the button below to bookmark ideas for upcoming date nights, family outings, and time with friends.
For tickets to local and regional events, check out our 6AM Tickets resale marketplace.*
When customers join the Remi Club, they receive brand new replacement night guards every 6 months for just $49. | Photo provided by Remi
Calling all anxious teeth grinders: Stress is really bad for your sleep. If you’re grinding + clenching your teeth at night, it might be time to take an additional step in protecting your physical and mental health.
The City of Richmond has launched a newsletter to communicate directly with River City residents. Subscribe to get updates. 📥
Development
Richmond’s first Shake Shack is set to go up at the Willow Place shopping center on West Broad Street. The 30-year-old Willow Place is undergoing a renovation which will include two new tenants — a HomeGoods + a yet-to-be-named grocery store. 🍔 (Richmond BizSense)
Arts
Burning Man artistKate Raudenbush will premiere an exhibit at Lewis Ginter Botanical Garden next year. “Incanto: An Oasis of Lyrical Sculpture” contains five works in collaboration with poet Sha Michele. The show will be on view April 28-Oct. 29, 2023.
Ever seen an otter flip pancakes? Or, how about a skateboarding rabbit? Now is your chance. At the Children’s Hospital of Richmond at VCU’s new Wonder Tower, local artist Matt Lively is painting a mural featuring animals of the James River doing imaginative activities. See how you can help bring the project to life. 🎨 *
Outdoors
The area around Branch’s Baptist Church is now greener thanks to a reforesting effort which removed 20,000+ sqft of pavement. The Chesapeake Bay Foundation worked with the Southside church to plant 30 native trees where an unused parking lot + basketball court once stood. 🌳 (RVAHub)
Edu
UR is officially renaming its law school. The university’s board voted unanimously to change the name from the T.C. Williams School of Law to the University of Richmond School of Law. T.C. Williams was a tobacco business owner who enslaved dozens of people in the 19th century. (ABC8 News)
Pets
If you’re looking for a dog-friendly event, here’s a wiener. Dachtoberfest will celebrate all things dachshunds at the Delta Hotel (555 E. Canal St.) this Sat., Oct. 1 from 9:30 a.m.-4 p.m. Expect races, costume contests, raffles, vendors + guest speakers. Ticketsare $10 in advance, $15 at the door. 🌭
Shop
The Richmond Makers Market returns to Basic City Beer Co. (212 W. Sixth St.) this Sat., Oct. 1 from 12-6 p.m. for Spooktoberfest. The market will feature dozens of local vendors, food from Auntie Ning’s + Billy Pie, and a dog costume contest.
Football season is in full swing. If you’re headed to a game this fall, don’t forget to pack your game day essentials in a stadium approved bag. This clear crossbody with 8,000+ positive reviews is a must + we also love this trendy fanny pack option.*
In 2021, Chesapeake Bank served 121 organizations with 4,710 hours, between 92 volunteers. Now that’s what we call investing in your community. 👏*
Eat
Skip the meal hassle with Sunbasket, a meal kit delivery service that makes healthy eating beyond easy. Sunbasket offers 10 different meal plans that work for those with dietary preferences and specific restrictions (think: paleo, gluten-free, veg, diabetes-friendly + more). Bonus: Sign up for $100 off your first four deliveries. 🥕 *
Health
Did you know? Our allergy triggers change and evolve over time as we age. Read: You might have new allergies you don’t even know about — to find out your most updated allergy triggers, take Picnic’s easy, at-home allergy quiz. Pro tip: Picnic can prescribe customized allergy medicine for relief, too.*
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