Cost of Living: Durham, NC vs Richmond, VA (2026)

Durham

North Carolina
105
VS

Richmond

Virginia
98

Durham is 7% more expensive than Richmond.

$1,412/mo ↑ 7%
Median Rent
$1,314/mo ↓ 7%
$79,234/yr ↑ 26%
Median Income
$62,671/yr ↓ 21%
$355,300 ↑ 8%
Home Value
$328,100 ↓ 8%
$1,434/mo ↑ 4%
Owner Costs
$1,374/mo ↓ 4%
288,465
Population
227,595

Tax Comparison

4.5%
Income Tax
5.75%
4.75%
State Sales Tax
5.3%
0.8%
Property Tax
0.8%

Affordability

21.4%
rent-to-income
Affordability
25.2%
rent-to-income

Detailed Comparison

When comparing Durham, NC and Richmond, VA, the overall cost of living indices are 105 and 98 respectively (national median = 100). Rent is $98/month cheaper in Richmond, saving renters about $1,176/year.

Median household income is $16,563/year higher in Durham. Home values also differ significantly — the median in Durham is $355,300 compared to $328,100 in Richmond.

North Carolina has a lower income tax rate, making Durham slightly more tax-friendly.

Frequently Asked Questions

Durham vs Richmond — common questions

Is Durham or Richmond cheaper to live in?
Based on our cost index, Richmond is cheaper to live in with an index of 98 compared to 105 (US average = 100).
What is the rent difference between Durham and Richmond?
Median rent in Durham is $1,412/month and in Richmond it's $1,314/month — a difference of $98/month.
Which city has higher income, Durham or Richmond?
Median household income is $79,234 in Durham and $62,671 in Richmond. Median household income is $16,563/year higher in Durham.
How do taxes compare between North Carolina and Virginia?
North Carolina has 4.5% income tax, 4.75% sales tax, and 0.8% property tax. Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax.
Should I move to Durham or Richmond?
It depends on your priorities. Durham has a cost index of 105 with median rent of $1,412/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 Durham details → View Richmond details →

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