Housing costs in Richmond?
A typical home costs
$314,300, which is 7.0% less expensive than the national average of
$338,100 and 8.4% less expensive than the average Virginia home, at
$343,200. Renting a two-bedroom unit in Richmond costs
$1,590 per month, which is 13.6% more than the national average of
$1,400 and 16.4% more than the state average of
$1,330.
Can I afford Richmond?
To live comfortably in Richmond (zip 23294), Virginia, a minimum annual income of
$60,120 for a family, and
$56,400 for a single person is recommended.
What does A.I. say about Richmond?
The cost of living in Richmond, VA (23294) is slightly higher than the national average. Groceries, healthcare, transportation and housing costs are all higher than the national average. This can be attributed to the fact that Richmond is a major city with a strong economy, and it has many amenities available for residents. Despite this, Richmond is still an affordable place to live as salaries are slightly above the national average. Furthermore, there are many public services available such as schools, libraries and parks that come at no additional cost. All in all, 23294 Richmond is a great place to live with a reasonable cost of living.