Richmond, VA County is an attractive place to live due to its relatively low cost of living. The average rent for a two-bedroom apartment in Richmond is $980 which is lower than the national average of $1,430. Grocery costs are also generally lower in Richmond, with a grocery cost index of 96 versus 100 nationally. This lower cost of living makes it easier for residents to stretch their budget and afford more with their salary. Local companies such as Altria Group, DuPont de Nemours Inc., and Dominion Energy offer good job opportunities in Richmond, allowing residents to take advantage of this low cost of living.
Richmond County has an unemployment rate of 5.2%. The US average is 6.0%.
Richmond County 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 29.3%, which is lower than the US average of 33.5%.
Tax Rates for Richmond County
- The Sales Tax Rate for Richmond County is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Richmond County 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 County
- The average income of a Richmond County resident is $19,956 a year. The US average is $28,555 a year.
- The Median household income of a Richmond County resident is $57,697 a year. The US average is $69,021 a year.