Local Area Cost of Living Index
The Richmond area offers a high quality of life with overall costs below the USA average.
The region’s overall cost of living is over 3 percent below the national average.
Housing costs, which account for 28 percent of the composite index, are over 12 percent lower in the Richmond area than the national average.
| Index % | Richmond MSA |
|---|---|
| Composite Index (100%) | 96.9 |
| Grocery Items (14%) | 94.2 |
| Housing (28%) | 87.9 |
| Utilities (9%) | 103.8 |
| Transportation (9%) | 96.1 |
| Health Care (5%) | 103.6 |
| Misc. Goods & Services (35%) | 102.9 |
| 100 = U.S. Average | |
| Source: Council for Community and Economic Research Cost of Living Index, 2022 Annual Average. |
