Richmond, RI is an idyllic city located in the state of Rhode Island. It is a great place to live because of its vibrant culture, close proximity to Providence, and affordable cost of living. The median 2 Bedroom rent in Richmond is $1,760 which is quite reasonable compared to the rest of the US at $1,430. Furthermore, groceries are slightly more expensive here with an index score of 107 compared to 100 nationally. There are plenty of great local businesses in Richmond such as Potter Hill Farm for fresh produce and Linda's Bakery for freshly baked goods. The city also has diverse shopping options like Alderbrook Farm Market and Country Corner Crafts for unique gifts and decorations. With numerous attractions and amenities, Richmond is definitely a great place to live!
Richmond has an unemployment rate of 5.5%. The US average is 6.0%.
Richmond has seen the job market increase by 1.4% over the last year. Future job growth over the next ten years is predicted to be 30.2%, which is lower than the US average of 33.5%.
Tax Rates for Richmond
- The Sales Tax Rate for Richmond is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Richmond is 3.8%. 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 $37,619 a year. The US average is $28,555 a year.
- The Median household income of a Richmond resident is $100,493 a year. The US average is $69,021 a year.