Housing costs in Richmond?
A typical home costs
$282,200, which is 16.5% less expensive than the national average of
$338,100 and 17.8% less expensive than the average Virginia home, at
$343,200. Renting a two-bedroom unit in Richmond costs
$1,320 per month, which is 5.7% cheaper than the national average of
$1,400 and close to the state average of
$1,330.
Can I afford Richmond?
To live comfortably in Richmond (zip 23237), Virginia, a minimum annual income of
$54,000 for a family, and
$46,400 for a single person is recommended.
What does A.I. say about Richmond?
The cost of living in 23237 Richmond, VA is higher than many other places throughout the United States. According to Area Vibes, the Total Cost of Living Index for this zip code is 134, which is 34 points higher than the U.S. average score of 100. It's estimated that residents in 23237 will need to make about $6,364 more each year to maintain their current lifestyle when compared to other parts of Virginia and the rest of the country. Housing prices are also reported to be higher here with a median home value around $225,400. Costs for groceries and transportation are generally comparable with national averages while health care and utilities costs are slightly above average.