Zip 23224 (Richmond, VA) Cost of Living


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Richmond cost of living score
95.2
Less expensive
4.8% lower
than the US average
8.6% lower
than the Virginia average
Richmond (zip 23224), Virginia gets a BestPlaces Cost of Living score of 95.2, which means the total cost of housing, food, childcare, transportation, healthcare, taxes, and other necessities is 4.8% lower than the U.S. average and 8.6% lower than the average for Virginia.

Zip 23224 (Richmond, VA)

Housing costs in Richmond?
A typical home costs $243,000, which is 28.1% less expensive than the national average of $338,100 and 29.2% less expensive than the average Virginia home, at $343,200. Renting a two-bedroom unit in Richmond costs $1,200 per month, which is 14.3% cheaper than the national average of $1,400 and 10.8% cheaper than the state average of $1,330.

Can I afford Richmond?
To live comfortably in Richmond (zip 23224), Virginia, a minimum annual income of $46,440 for a family, and $42,400 for a single person is recommended.

What does A.I. say about Richmond?
The cost of living in 23224 Richmond, VA is generally higher than the national average. This is due to the city's prime location, which offers access to many amenities and job opportunities. Housing costs are particularly high in this area. The median home price in 23224 Richmond, VA is around $230k with a median rent of $1,400 per month. Goods and services are comparatively expensive due to the area's vibrant local economy. Despite these higher costs, Richmond has become an increasingly popular city for people seeking a great quality of life in a bustling metropolitan environment.
   Cost of living score
     CategoriesRichmondVirginiaUnited States
  95.2104.2100.0
  94.399.6100
  99.2103.1100.0
  59.7112.9100.0
  $243,000$343,200$338,100
  98.9%99.3%100.0%
  88.599.4100.0
  135.3113.7100.0

   100=National Average

   Average Rent by Bedroom Size
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