Richmond, LA is a great place to live for those looking for affordability. The 2 bedroom rent in Richmond is much lower than the US average at $760 compared to $1,430. This makes it easy to save money without sacrificing amenities or quality living. Local companies such as Richmond Housing Authority and Richmond Apartments offer reasonable prices for rentals including houses and apartments. Grocery costs are also greatly reduced here at 86 compared to 100 in the US, making it easier to find affordable food options from local stores like Winn-Dixie and Piggly Wiggly.
Richmond has an unemployment rate of 6.8%. The US average is 6.0%.
Richmond has seen the job market decrease by -2.3% over the last year. Future job growth over the next ten years is predicted to be 11.4%, which is lower than the US average of 33.5%.
Tax Rates for Richmond
- The Sales Tax Rate for Richmond is 10.5%. The US average is 7.3%.
- The Income Tax Rate for Richmond is 6.0%. 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 $21,299 a year. The US average is $28,555 a year.
- The Median household income of a Richmond resident is $61,667 a year. The US average is $69,021 a year.