Richmond Metro Area, IN Cost of Living


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United States / Indiana / Richmond Metro Area / Counties / Cities / Zip Codes
How much do I need to live in Richmond, Indiana?
$2,190 / month
for a family, 59.4% less expensive than the national average A total of $26,280 for the year for a family.
$2,133 / month
for a single person, 55.3% less expensive than the national average A total of $25,600 for the year for a single person.

Richmond cost of living score
70.6
Less expensive
29.4% lower
than the US average
15.7% lower
than the Indiana average
Richmond Indi Metro Area, Indiana gets a BestPlaces Cost of Living score of 70.6, which means the total cost of housing, food, childcare, transportation, healthcare, taxes, and other necessities is 29.4% lower than the U.S. average and 15.7% higher than the average for Indiana.

Richmond Metro Area, IN

Housing costs in Richmond?
A typical home costs $137,200, which is 59.4% less expensive than the national average of $338,100 and 38.1% less expensive than the average Indiana home, at $221,600. Renting a two-bedroom unit in Richmond costs $840 per month, which is 41.3% cheaper than the national average of $1,430 and 16.7% cheaper than the state average of $980.

Can I afford Richmond?
To live comfortably in Richmond Indi Metro Area, Indiana, a minimum annual income of $26,280 for a family, and $25,600 for a single person is recommended.

What does A.I. say about Richmond?
The cost of living in Richmond, IN Metro Area is much lower than the US average. At 70.6, which is almost 30 points below the US average of 100, it is significantly more affordable to live in Richmond than other parts of the country. This cost savings can be seen with median house values as well - while the US median house value averages $338,100, Richmond's median house value is only $137,200 - a significant difference. Clearly, there are a variety of financial benefits to living in Richmond compared to other areas across the United States.
   Cost of living score
       Higher than 100 is more expensive than the national average.
       Lower than 100 is less expensive.
     CategoriesRichmondIndianaUnited States
    Unlock83.7100.0
  91.8  Unlock100.0
    Unlock94.4100.0
  37.5  Unlock100.0
    Unlock$221,600$338,100
  95.4  Unlock100.0
    Unlock85.4100.0
  73.4  Unlock100.0

   100=National Average

   Average Rent by Bedroom Size
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