Chicago, IL vs Richmond, VA
Cost of living comparison · 2023 Census ACS data
Quick Summary
Chicago and Richmond sit close to each other across the headline cost-of-living indicators — typical homes within 4% of each other, median incomes within 17%. The relocation math comes down to non-housing factors: taxes, commute, climate, and personal preference.
Median Home Value
$315,200 ✓
$328,100
Zillow Home Value
$312,456
$361,133
Median Gross Rent
$1,380/mo
$1,314/mo ✓
Owner Occupied %
45.5%
43.5%
Price-to-Rent Ratio
19.0x
20.8x
Median Household Income
$75,134 ✓
$62,671
Per Capita Income
$48,148
$44,249
Unemployment Rate
7.9%
6.0% ✓
Poverty Rate
16.8%
18.8%
Avg Commute (min)
36.7 min
23.7 min
Drove Alone %
46.0%
64.9%
Public Transit %
19.3%
3.6%
Work From Home %
18.3%
16.9%
State Income Tax
5.0%
5.8%
Total Sales Tax
8.7%
5.6% ✓
Property Tax Rate
2.2%
0.8%
Bachelor's Degree %
24.9%
26.0%
Median Age
35.7
34.5
Avg High Temp
60.3°F
69.5°F
Annual Precipitation
34.4"
45.5"
Annual Snowfall
—
8.8"
Chicago, IL 2 wins
- ✓Median Home Value
- ✓Median Household Income
Richmond, VA 3 wins
- ✓Median Gross Rent
- ✓Total Sales Tax
- ✓Unemployment Rate
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