Richmond, VA Metro Area is a great place to live and work. With low 2 bedroom rent of just $1,330 compared to the US average of $1,430, it's easy to find an affordable home here. Additionally, Richmond boasts a Grocery Cost Index of 99 versus the US average of 100 - making it more budget-friendly for groceries. The area is home to many large corporations like Capital One, CarMax, Markel Corporation, Altria, Dominion Energy, and Owens & Minor. This diverse job market provides great opportunities for employment and business growth. For those looking to start a business or relocate their existing one in the area benefit from its strategic location - close proximity to Washington D.C., strong infrastructure including educational institutions and airports - plus many incentives. With all these advantages combined with its affordability makes Richmond a great place to live and work!
Richmond Metro Area has an unemployment rate of 5.5%. The US average is 6.0%.
Richmond Metro Area has seen the job market decrease by -5.6% over the last year. Future job growth over the next ten years is predicted to be 36.5%, which is higher than the US average of 33.5%.
Tax Rates for Richmond Metro Area
- The Sales Tax Rate for Richmond Metro Area is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Richmond Metro Area 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 Metro Area
- The average income of a Richmond Metro Area resident is $40,254 a year. The US average is $37,638 a year.
- The Median household income of a Richmond Metro Area resident is $74,592 a year. The US average is $69,021 a year.