Cost of Living: Jersey City, NJ vs Richmond, VA (2026)

Jersey City

New Jersey
148
VS

Richmond

Virginia
98

Jersey City is 51% more expensive than Richmond.

$1,902/mo ↑ 45%
Median Rent
$1,314/mo ↓ 31%
$94,813/yr ↑ 51%
Median Income
$62,671/yr ↓ 34%
$534,500 ↑ 63%
Home Value
$328,100 ↓ 39%
$2,006/mo ↑ 46%
Owner Costs
$1,374/mo ↓ 32%
289,691
Population
227,595

Tax Comparison

10.75%
Income Tax
5.75%
6.625%
State Sales Tax
5.3%
2.23%
Property Tax
0.8%

Affordability

24.1%
rent-to-income
Affordability
25.2%
rent-to-income

Detailed Comparison

When comparing Jersey City, NJ and Richmond, VA, the overall cost of living indices are 148 and 98 respectively (national median = 100). Rent is $588/month cheaper in Richmond, saving renters about $7,056/year.

Median household income is $32,142/year higher in Jersey City. Home values also differ significantly — the median in Jersey City is $534,500 compared to $328,100 in Richmond.

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

Frequently Asked Questions

Jersey City vs Richmond — common questions

Is Jersey City or Richmond cheaper to live in?
Based on our cost index, Richmond is cheaper to live in with an index of 98 compared to 148 (US average = 100).
What is the rent difference between Jersey City and Richmond?
Median rent in Jersey City is $1,902/month and in Richmond it's $1,314/month — a difference of $588/month.
Which city has higher income, Jersey City or Richmond?
Median household income is $94,813 in Jersey City and $62,671 in Richmond. Median household income is $32,142/year higher in Jersey City.
How do taxes compare between New Jersey and Virginia?
New Jersey has 10.75% income tax, 6.625% sales tax, and 2.23% property tax. Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax.
Should I move to Jersey City or Richmond?
It depends on your priorities. Jersey City has a cost index of 148 with median rent of $1,902/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 Jersey City details → View Richmond details →

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