Cost of Living: Albuquerque, NM vs Richmond, VA (2026)

Albuquerque

New Mexico
80
VS

Richmond

Virginia
98

Albuquerque is 18% cheaper than Richmond.

$1,085/mo ↓ 17%
Median Rent
$1,314/mo ↑ 21%
$65,604/yr ↑ 5%
Median Income
$62,671/yr ↓ 4%
$266,700 ↓ 19%
Home Value
$328,100 ↑ 23%
$1,149/mo ↓ 16%
Owner Costs
$1,374/mo ↑ 20%
562,488
Population
227,595

Tax Comparison

5.9%
Income Tax
5.75%
5.0%
Sales Tax
5.3%
0.67%
Property Tax
0.8%

Affordability

19.8%
rent-to-income
Affordability
25.2%
rent-to-income

Detailed Comparison

When comparing Albuquerque, NM and Richmond, VA, the overall cost of living indices are 80 and 98 respectively (national median = 100). Rent is $229/month cheaper in Albuquerque, saving renters about $2,748/year.

Median household income is $2,933/year higher in Albuquerque. Home values also differ significantly — the median in Albuquerque is $266,700 compared to $328,100 in Richmond.

Virginia has a lower income tax rate, making Richmond slightly more tax-friendly.

Frequently Asked Questions

Albuquerque vs Richmond — common questions

Is Albuquerque or Richmond cheaper to live in?
Based on our cost index, Albuquerque is cheaper to live in with an index of 80 compared to 98 (US average = 100).
What is the rent difference between Albuquerque and Richmond?
Median rent in Albuquerque is $1,085/month and in Richmond it's $1,314/month — a difference of $229/month.
Which city has higher income, Albuquerque or Richmond?
Median household income is $65,604 in Albuquerque and $62,671 in Richmond. Median household income is $2,933/year higher in Albuquerque.
How do taxes compare between New Mexico and Virginia?
New Mexico has 5.9% income tax, 5.0% sales tax, and 0.67% property tax. Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax.
Should I move to Albuquerque or Richmond?
It depends on your priorities. Albuquerque has a cost index of 80 with median rent of $1,085/mo, while Richmond has a cost index of 98 with rent of $1,314/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Albuquerque details → View Richmond details →