New York, NY vs Richmond, VA
Cost of living comparison · 2023 Census ACS data
Quick Summary
The headline difference between these two markets is housing: a typical home in Richmond runs $328,000 versus $752,000 in New York, a 56% gap that dominates most relocation math. State income-tax burden also tilts toward Richmond — a top rate of 5.8% versus 10.9% — which compounds at higher incomes.
Median Home Value
$751,700
$328,100 ✓
Zillow Home Value
$812,534
$361,133
Median Gross Rent
$1,779/mo
$1,314/mo ✓
Owner Occupied %
32.8%
43.5%
Price-to-Rent Ratio
35.2x
20.8x
Median Household Income
$79,713 ✓
$62,671
Per Capita Income
$50,776
$44,249
Unemployment Rate
7.7%
6.0% ✓
Poverty Rate
17.4%
18.8%
Avg Commute (min)
44.8 min
23.7 min
Drove Alone %
21.9%
64.9%
Public Transit %
45.5%
3.6%
Work From Home %
15.0%
16.9%
State Income Tax
10.9%
5.8%
Total Sales Tax
8.5%
5.6% ✓
Property Tax Rate
1.7%
0.8%
Bachelor's Degree %
23.6%
26.0%
Median Age
38
34.5
Avg High Temp
62.6°F
69.5°F
Annual Precipitation
49.5"
45.5"
Annual Snowfall
29.8"
8.8"
New York, NY 1 wins
- ✓Median Household Income
Richmond, VA 4 wins
- ✓Median Home Value
- ✓Median Gross Rent
- ✓Total Sales Tax
- ✓Unemployment Rate
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