2025 Compare Cities Economy:
Richmond, VA vs Wake Forest, NC

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Highlights
- Household income in Wake Forest, is 90% more than it is in Richmond and is 34% above the National Average.
- Richmond unemployment rate is 7.1%.
- Wake Forest unemployment rate is 3.6%.
 Richmond, VAWake Forest, NCUnited States
 Unemployment Rate  Unlock3.6%6.0%
 Recent Job Growth  Unlock3.0%1.6%
 Future Job Growth37.1%  Unlock33.5%
 Sales Taxes5.3%  Unlock6.2%
 Income Taxes  Unlock5.3%4.6%
 Income per Cap.$38,132  Unlock$37,638
 Household Income  Unlock$104,006$69,021
 Family Median Income$72,604  Unlock$85,028
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 Est. Households By Income
 Richmond, VAWake Forest, NCUnited States
 Income Less Than 15K  Unlock2.8%9.4%
 Income between 15K and 20K5.4%  Unlock3.8%
 Income between 20K and 30K  Unlock3.4%8.1%
 Income between 30K and 40K9.6%  Unlock8.0%
 Income between 40K and 50K  Unlock8.8%7.6%
 Income between 50K and 60K8.1%  Unlock7.2%
 Income between 60K and 75K  Unlock6.7%9.6%
 Income between 75K and 100K11.3%  Unlock12.8%
 Income between 100K and 150K  Unlock23.0%16.3%
 Income between 150K and 200K5.2%  Unlock7.8%
 Income greater than 200K  Unlock13.2%9.5%
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 Population By Occupation
 Richmond, VAWake Forest, NCUnited States
 Management, business, finance16.7%  Unlock16.4%
 Engineering, computers, science  Unlock11.1%6.5%
 Community, social services2.7%  Unlock1.8%
 Legal  Unlock1.3%1.2%
 Education, library6.9%  Unlock6.2%
 Arts, design, media, sports, entertainment  Unlock1.8%2.0%
 Healthcare practitioners and technology6.1%  Unlock6.2%
 Healthcare support  Unlock1.4%3.3%
 Firefighters, law enforcement2.7%  Unlock2.1%
 Food preparation, serving  Unlock3.0%5.4%
 Building maintenance4.0%  Unlock3.6%
 Personal care  Unlock2.4%2.6%
 Sales, office, administrative support19.1%  Unlock20.9%
 Farming, fishing, forestry  Unlock0.4%0.6%
 Construction, extraction, maintenance/repair6.0%  Unlock8.1%
 Production, transportation, material moving  Unlock6.4%13.1%
Reviews for Richmond    109 Reviews

Over 3 years ago

Lived here for a year and it’s not perfect but it’s constantly improving now (areas redevloped, more businesses, job growth). Cost of living is great compared to  More

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Over 4 years ago

We love Richmond so much that when we talk about where we'd like to live if we could live anywhere in the US, we always come back to RVA. We live in the city proper  More

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Over 4 years ago

I'm an out-of-towner but am coming up on 1 year in Richmond. I would summarize it this way: the best thing and the worst thing about Richmond is its location. I'll  More

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Reviews for Wake Forest    5 Reviews

Im a 22 year old male from Denver Colorado.im looking to relocate and transfer for work . Colorado has high taxes and high cost of living and also to much snow during  More

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Relocating from New York City three years ago took some adjustment and once settled in Wake Forest I was able to breath a little bit easier. The pace is something you  More

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The Triangle is a great place to work and live, more reasonable than the North but more expensive than most places in the South. We live in a beautiful  More

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