Washington vs Richmond
Washington, DC · Richmond, VA
Richmond is 37% cheaper than Washington overall.
Home Price
Washington: $575,000
Richmond: $310,000
Monthly Rent
Washington: $2,195/mo
Richmond: $1,287/mo
COL Index
Washington: 154
Richmond: 97
Median Income
Washington: $98,700
Richmond: $68,200
Side-by-Side Comparison
Median Home Price
Monthly Rent (Median)
Median Household Income
Property Tax Rate
Cost of Living Index
100 = national average
Avg. Commute
Unemployment Rate
Median Age
What This Means For You
Buying Power
A $100,000 salary in Washington has the same purchasing power as $62,987 in Richmond — based on each city's cost of living index.
Housing
Homes in Richmond cost 46% more (-$265,000 extra). Expect a larger mortgage and down payment.
Renting
Renting in Richmond saves you $908/month — $10,896 per year. Median rent: $2,195/mo in Washington vs $1,287/mo in Richmond.
Property Taxes
On a median-priced home, Washington owners pay roughly $3,278/year in property taxes vs $2,542/year in Richmond. That's a $736 annual difference.
Local Earnings
Median household income is $98,700 in Washington and $68,200 in Richmond. Richmond residents earn 31% more — but remember to factor in cost of living.
Daily Commute
Average commute is 34 minutes in Washington vs 25 minutes in Richmond. Over a year, that's 4500 extra minutes (75 hours) of commuting in Washington.
Salary Equivalence
To maintain the same lifestyle when moving from Washington to Richmond, here's the salary you'd need:
| Salary in Washington | Equivalent in Richmond | Difference |
|---|---|---|
| $50,000 | $31,494 | -$18,506 |
| $75,000 | $47,240 | -$27,760 |
| $100,000 | $62,987 | -$37,013 |
| $150,000 | $94,481 | -$55,519 |
| $200,000 | $125,974 | -$74,026 |
* Calculated using cost of living indices (national average = 100). Does not account for state income tax differences.
Run the Numbers
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Rent vs Buy
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Cost of Living
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Affordability Calculator
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Property Tax Calculator
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Washington Calculators
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Related Comparisons
Washington vs Richmond: Common Questions
Is Washington or Richmond cheaper to live in?
Based on cost of living indices, Richmond is cheaper overall. Washington has a COL index of 154 while Richmond scores 97 (national average = 100).
How do home prices compare between Washington and Richmond?
The median home price in Washington is $575,000 vs $310,000 in Richmond — a difference of $265,000 (46%).
What salary do I need in Richmond to match my Washington income?
Use the salary equivalence table above. For example, a $100K salary in Washington is equivalent to $62,987 in Richmond in terms of purchasing power.
Which city has lower property taxes?
Washington has a lower property tax rate (0.57% vs 0.82%). On a median-priced home, that means paying $2,542/year vs $3,278/year.
Cost of living data sourced from Council for Community and Economic Research (C2ER) Cost of Living Index, U.S. Census Bureau American Community Survey, and Zillow Research. Tax rates from Tax Foundation and state revenue agencies. Last updated: March 2025.