Richmond, VA is a vibrant city located in the United States with plenty to offer residents. The cost of living in Richmond is relatively low, offering a two-bedroom rental for $1,320 compared to the national average of $1,430. Additionally, local grocery prices index at 98 compared to 100 nationally. This makes Richmond an attractive option for people hoping to keep their budget in check. Major employers like Capital One and Markel Corporation are based out of Richmond, creating numerous job opportunities for those looking to move to or stay in the city. Richmond is also known for its rich cultural attractions, including famous museums and historical sites. All these factors make it a great place to live and work!
Richmond has an unemployment rate of 7.1%. The US average is 6.0%.
Richmond has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 37.1%, which is higher than the US average of 33.5%.
Tax Rates for Richmond
- The Sales Tax Rate for Richmond is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Richmond is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Richmond
- The average income of a Richmond resident is $27,860 a year. The US average is $28,555 a year.
- The Median household income of a Richmond resident is $54,795 a year. The US average is $69,021 a year.