Richmond, VA is a thriving city in central Virginia with an estimated population of more than 230,000 people. It is home to many major companies, universities and cultural sites. The cost of living in Richmond is slightly lower than the US average. The 2 bedroom rent rate in Richmond is $1,200 while the US average is $1,430. Additionally, the Grocery Cost Index in Richmond is 96 vs 100 in the US on average. Companies that are located in Richmond include Dominion Energy, Capital One Financial Corporation, CarMax Inc., and Genworth Financial Inc., as well as other notable firms such as Time Warner Cable and Honeywell International.
Richmond (zip 23223) has an unemployment rate of 7.1%. The US average is 6.0%.
Richmond (zip 23223) 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 37.1%, which is higher than the US average of 33.5%.
Tax Rates for Richmond (zip 23223)
- The Sales Tax Rate for Richmond (zip 23223) is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Richmond (zip 23223) 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 (zip 23223)
- The average income of a Richmond (zip 23223) resident is $30,287 a year. The US average is $37,638 a year.
- The Median household income of a Richmond (zip 23223) resident is $49,347 a year. The US average is $69,021 a year.