Cost of Living: Austin, TX vs Richmond, VA (2026)

Austin

Texas
134
VS

Richmond

Virginia
98

Austin is 37% more expensive than Richmond.

$1,655/mo ↑ 26%
Median Rent
$1,314/mo ↓ 21%
$91,461/yr ↑ 46%
Median Income
$62,671/yr ↓ 31%
$512,700 ↑ 56%
Home Value
$328,100 ↓ 36%
$1,747/mo ↑ 27%
Owner Costs
$1,374/mo ↓ 21%
967,862
Population
227,595

Tax Comparison

0%
Income Tax
5.75%
6.25%
State Sales Tax
5.3%
1.6%
Property Tax
0.8%

Affordability

21.7%
rent-to-income
Affordability
25.2%
rent-to-income

Detailed Comparison

When comparing Austin, TX and Richmond, VA, the overall cost of living indices are 134 and 98 respectively (national median = 100). Rent is $341/month cheaper in Richmond, saving renters about $4,092/year.

Median household income is $28,790/year higher in Austin. Home values also differ significantly — the median in Austin is $512,700 compared to $328,100 in Richmond.

Texas has no state income tax, giving Austin residents a significant tax advantage over Virginia's 5.75% rate.

Frequently Asked Questions

Austin vs Richmond — common questions

Is Austin or Richmond cheaper to live in?
Based on our cost index, Richmond is cheaper to live in with an index of 98 compared to 134 (US average = 100).
What is the rent difference between Austin and Richmond?
Median rent in Austin is $1,655/month and in Richmond it's $1,314/month — a difference of $341/month.
Which city has higher income, Austin or Richmond?
Median household income is $91,461 in Austin and $62,671 in Richmond. Median household income is $28,790/year higher in Austin.
How do taxes compare between Texas and Virginia?
Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax. Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax.
Should I move to Austin or Richmond?
It depends on your priorities. Austin has a cost index of 134 with median rent of $1,655/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 Austin details → View Richmond details →

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