Baltimore, MD vs Richmond, VA: 84 vs 98

$1,290/mo ↓ 2%

Median Rent

$1,314/mo ↑ 2%

$59,623/yr ↓ 5%

Median Income

$62,671/yr ↑ 5%

$219,300 ↓ 33%

Home Value

$328,100 ↑ 50%

$1,333/mo ↓ 3%

Owner Costs

$1,374/mo ↑ 3%

577,193

Population

227,595

Detailed Comparison

When comparing Baltimore, MD and Richmond, VA, the overall cost of living indices are 84 and 98 respectively (national median = 100). Rent is comparable in both cities, with less than $50/month separating them.

Median household income is $3,048/year higher in Richmond. Home values also differ significantly — the median in Baltimore is $219,300 compared to $328,100 in Richmond.

Frequently Asked Questions

Baltimore vs Richmond — common questions

Is Baltimore or Richmond cheaper to live in?

Based on our cost index, Baltimore is cheaper to live in with an index of 84 compared to 98 (US average = 100).

What is the rent difference between Baltimore and Richmond?

Median rent in Baltimore is $1,290/month and in Richmond it's $1,314/month — a difference of $24/month.

Which city has higher income, Baltimore or Richmond?

Median household income is $59,623 in Baltimore and $62,671 in Richmond. Median household income is $3,048/year higher in Richmond.

How do taxes compare between Maryland and Virginia?

Maryland has 5.75% income tax, 6.0% sales tax, and 1.07% property tax. Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax.

Should I move to Baltimore or Richmond?

It depends on your priorities. Baltimore has a cost index of 84 with median rent of $1,290/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.

Cost of Living: Baltimore, MD vs Richmond, VA (2026)

Baltimore

Richmond

Tax Comparison

Affordability

Detailed Comparison

Frequently Asked Questions

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