Cost of Living

Cost of Living2018-08-29T08:11:14+00:00

Area Cost of Living Index

The Richmond area offers a high quality of life on par with the national average cost. According to the Center for Community and Economic Research’s ACCRA Cost of Living Index, Annual Average 2017, our region’s overall cost of living is four percent below the national average, 96.1 and 100.0, respectively. Housing costs, which account for 28 percent of the index, are 11 percent lower in the Richmond area than the national average.

wdt_ID Index % Richmond MSA
1 Composite Index (100%) 96.1
2 Grocery Items (14%) 88.7
3 Housing (28%) 88.7
4 Utilities (10%) 106.8
5 Transportation (12%) 91.9
6 Health Care (4%) 108.3
7 Misc. Goods & Services (32%) 101.3
8 100 = U.S. Average

Source: Council for Community and Economic Research Cost of Living Index, Annual Average 2017.