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Cost of Living: Raleigh, NC vs Richmond, VA

A data-driven comparison of housing, groceries, transportation, taxes, job market and more. See which city gives you more for your money.

2.0% Richmond, VA is more expensive overall
0.0% 0.0% cheaper housing
1.0% 1.0% more expensive groceries
Updated April 2026 · Data: Bureau of Labor Statistics, U.S. Census Bureau National average = 100

At a Glance

🏠 Housing ~Same
Raleigh
104
Richmond
104
🛒 Groceries ~Same
Raleigh
97
Richmond
98
🚗 Transportation 2.1% more
Raleigh
96
Richmond
98
🏥 Healthcare ~Same
Raleigh
100
Richmond
100
⚡ Utilities ~Same
Raleigh
98
Richmond
100

Detailed Breakdown

Category Raleigh, NC Richmond, VA Difference
Overall Cost Index98100~Same
Housing104104~Same
Median 1BR Rent$1,350$1,3003.7% less
Median Home Price$385,000$320,00016.9% less
Groceries9798~Same
Transportation96982.1% more
Healthcare100100~Same
Utilities98100~Same

Tax Comparison

Tax Type Raleigh, NC Richmond, VA
State Income Tax4.50%5.75% (top)
State Sales Tax4.75%5.30%
Avg Property Tax Rate0.70%0.74%
Estate / Inheritance TaxNoneNone

What You'd Need to Earn

Raleigh, NC
$78,000
Median household income
Richmond, VA
$62,000
Median household income
⚠️ Heads up: Richmond costs more but median income is lower. You may need to earn more to maintain the same standard of living.

Salary Equivalent Calculator

Find out what you'd need to earn in Richmond to maintain your Raleigh lifestyle.

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Based on overall cost index: Raleigh (98) vs Richmond (100). This is an estimate for comparison purposes.

Job Market Snapshot

Unemployment Rate
Raleigh3.1%
Richmond3.4%
Job Growth (YoY)
Raleigh3.9%
Richmond2.5%
Top Industries
RaleighTech, Biotech, Education
RichmondFinance, Government, Manufacturing

Quality of Life

Avg Commute
Raleigh24 min
Richmond24 min
Walk Score
Raleigh30
Richmond52
Air Quality (AQI)
Raleigh35
Richmond38
Avg Temperature
Raleigh60°F
Richmond58°F
Population
Raleigh469,698
Richmond226,610

Moving from Raleigh to Richmond?

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Planning Your Move?

Here are some helpful resources if you're considering relocating.

🏠 Find ApartmentsBrowse rentals in Raleigh and Richmond → 🚚 Get Moving QuotesCompare prices from top movers → 📈 Check Home ValuesSee real estate trends in both cities → 💼 Search JobsFind open positions in Richmond →

Compare Other Cities

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Frequently Asked Questions

Is Raleigh or Richmond cheaper to live in?+
Raleigh is the more affordable option overall. The biggest difference is in housing costs, where the gap is about 0.0%. Day-to-day expenses like groceries and transportation are closer between the two cities.
How much is rent in Raleigh vs Richmond?+
A typical one-bedroom apartment costs around $1,350/month in Raleigh and $1,300/month in Richmond — a difference of about $50 per month.
Which city has lower taxes, Raleigh or Richmond?+
North Carolina has a state income tax of 4.50% and sales tax of 4.75%. Virginia has a state income tax of 5.75% (top) and sales tax of 5.30%. Consider all tax types together when evaluating total tax burden, as states with no income tax often compensate with higher sales or property taxes.
Can I afford to move from Raleigh to Richmond?+
Median household income in Raleigh is $78,000 compared to $62,000 in Richmond. Use the salary calculator above to see what you'd need to earn to maintain your current standard of living.
What about buying a home in Raleigh vs Richmond?+
The median home price in Raleigh is $385,000 versus $320,000 in Richmond — a difference of $65,000. Property tax rates also differ: North Carolina averages 0.70% while Virginia averages 0.74%.