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

Greensboro

North Carolina
76
VS

Richmond

Virginia
98

Greensboro is 22% cheaper than Richmond.

$1,114/mo ↓ 15%
Median Rent
$1,314/mo ↑ 18%
$58,884/yr ↓ 6%
Median Income
$62,671/yr ↑ 6%
$221,300 ↓ 33%
Home Value
$328,100 ↑ 48%
$1,107/mo ↓ 19%
Owner Costs
$1,374/mo ↑ 24%
298,564
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

22.7%
rent-to-income
Affordability
25.2%
rent-to-income

Detailed Comparison

When comparing Greensboro, NC and Richmond, VA, the overall cost of living indices are 76 and 98 respectively (national median = 100). Rent is $200/month cheaper in Greensboro, saving renters about $2,400/year.

Median household income is $3,787/year higher in Richmond. Home values also differ significantly — the median in Greensboro is $221,300 compared to $328,100 in Richmond.

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

Frequently Asked Questions

Greensboro vs Richmond — common questions

Is Greensboro or Richmond cheaper to live in?
Based on our cost index, Greensboro is cheaper to live in with an index of 76 compared to 98 (US average = 100).
What is the rent difference between Greensboro and Richmond?
Median rent in Greensboro is $1,114/month and in Richmond it's $1,314/month — a difference of $200/month.
Which city has higher income, Greensboro or Richmond?
Median household income is $58,884 in Greensboro and $62,671 in Richmond. Median household income is $3,787/year higher in Richmond.
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 Greensboro or Richmond?
It depends on your priorities. Greensboro has a cost index of 76 with median rent of $1,114/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 Greensboro details → View Richmond details →

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