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 5.2 index points below the national average.
Housing costs, which account for 28 percent of the composite index, are 14.8 index points lower in the Richmond area than the national average.
| Index % | Richmond MSA |
|---|---|
| Composite Index (100%) | 94.8 |
| Grocery Items (14%) | 99.2 |
| Housing (28%) | 85.2 |
| Utilities (9%) | 94.9 |
| Transportation (9%) | 97.1 |
| Health Care (5%) | 96.9 |
| Misc. Goods & Services (35%) | 100.0 |
| 100 = U.S. Average | |
| Source: Council for Community and Economic Research Cost of Living Index; Quarterly Average 2024 Q3. Updated November 2024. |
