Housing costs in Richmond?
A typical home costs
$295,100, which is 12.7% less expensive than the national average of
$338,100 and 14.0% less expensive than the average Virginia home, at
$343,200. Renting a two-bedroom unit in Richmond costs
$1,290 per month, which is 7.9% cheaper than the national average of
$1,400 and 3.1% cheaper than the state average of
$1,330.
Can I afford Richmond?
To live comfortably in Richmond (zip 23231), Virginia, a minimum annual income of
$56,520 for a family, and
$45,600 for a single person is recommended.
What does A.I. say about Richmond?
The cost of living in 23231 Richmond, VA is relatively high compared to the national average due to its close proximity to Washington D.C. and the numerous businesses located within the city limits. The median home price is around $290,000 with housing costs making up a large portion of the cost of living index. Groceries and health care are also more expensive than average as well as transportation costs due to the high gas prices in the area. Despite these costs, Richmond remains an attractive place to live due to its rich culture, diverse population, and many entertainment options.