salaryRichmond is 13% cheaperBased on official 2024 price levels from the U.S. Bureau of Economic Analysis.
I need in Richmond to live the same way.
🏠 Rent per month
$1,867
$1,644
🛏️ 2-bedroom rent
$1,573
$1,520
💵 Families earn per year
$56,147
$69,657
🔑 Buying a house
$373,700
$353,000
📊 Overall prices (U.S. = 100)
112.6
97.9
🏛️ Property tax per year
$7,262
$3,150
⚡ Electric bill per month
$143
$141
👥 People living there
310,178
229,359
Commute to work
32.6 min
21.7 min
College degree
19.7%
45.6%
Own their home
24.4%
43.5%
Below poverty line
23.4%
18.2%
Unemployment
11.6%
5.7%
Bottom line
- Pick Richmond for lower rent, cheaper 2-bedroom apartments, higher incomes and 5 more.
Pay for the same job
| Job | Newark | Richmond | Difference |
|---|---|---|---|
| Firefighter | $106,420 | $60,790 | -43% in Richmond |
| Police Officer | $105,540 | $62,720 | -41% in Richmond |
| Elementary School Teacher | $96,900 | $61,290 | -37% in Richmond |
| Operations Manager | $157,000 | $108,670 | -31% in Richmond |
| Lawyer | $208,880 | $144,910 | -31% in Richmond |
| Carpenter | $74,300 | $51,870 | -30% in Richmond |
| Physician Assistant | $167,650 | $126,810 | -24% in Richmond |
| HVAC Technician | $77,990 | $59,130 | -24% in Richmond |
Frequently asked questions
Is Newark or Richmond cheaper to live in?
Richmond is about 13% cheaper overall. Rent is $1,644 a month there versus $1,867 in Newark.
What salary do I need in Richmond to match $60,000 in Newark?
About $52,162 a year gives the same standard of living in Richmond.
Where do people earn more, Newark or Richmond?
The typical household earns $56,147 in Newark and $69,657 in Richmond, 19% more in Richmond.