Housing costs in Richmond?
A typical home costs
$384,300, which is 13.7% more expensive than the national average of
$338,100 and 12.0% more expensive than the average Virginia home, at
$343,200. Renting a two-bedroom unit in Richmond costs
$1,470 per month, which is 5.0% more than the national average of
$1,400 and 9.5% more than the state average of
$1,330.
Can I afford Richmond?
To live comfortably in Richmond (zip 23238), Virginia, a minimum annual income of
$73,800 for a family, and
$52,000 for a single person is recommended.
What does A.I. say about Richmond?
The cost of living in 23238 Richmond, VA is higher than the average for the United States as a whole. The median home price in the area is around $225,000 and rental prices range from $800 to $3,100 per month. The overall cost of living index is 106.7 which puts it slightly above the national average of 100. This means that goods and services will be more expensive in this area than they will be in other parts of the country. Additionally, groceries and utilities tend to be priced higher here than elsewhere. Although Richmond may not be the most affordable place to live, it is an attractive destination due to its rich cultural offerings and high quality of life.