Cost of Living: Louisville, KY vs Richmond, VA (2026)

Louisville

Kentucky
74
VS

Richmond

Virginia
98

Louisville is 24% cheaper than Richmond.

$1,069/mo ↓ 19%
Median Rent
$1,314/mo ↑ 23%
$64,731/yr ↑ 3%
Median Income
$62,671/yr ↓ 3%
$221,500 ↓ 32%
Home Value
$328,100 ↑ 48%
$1,118/mo ↓ 19%
Owner Costs
$1,374/mo ↑ 23%
627,210
Population
227,595

Tax Comparison

4.0%
Income Tax
5.75%
6.0%
State Sales Tax
5.3%
0.83%
Property Tax
0.8%

Affordability

19.8%
rent-to-income
Affordability
25.2%
rent-to-income

Detailed Comparison

When comparing Louisville, KY and Richmond, VA, the overall cost of living indices are 74 and 98 respectively (national median = 100). Rent is $245/month cheaper in Louisville, saving renters about $2,940/year.

Median household income is $2,060/year higher in Louisville. Home values also differ significantly — the median in Louisville is $221,500 compared to $328,100 in Richmond.

Kentucky has a lower income tax rate, making Louisville slightly more tax-friendly.

Frequently Asked Questions

Louisville vs Richmond — common questions

Is Louisville or Richmond cheaper to live in?
Based on our cost index, Louisville is cheaper to live in with an index of 74 compared to 98 (US average = 100).
What is the rent difference between Louisville and Richmond?
Median rent in Louisville is $1,069/month and in Richmond it's $1,314/month — a difference of $245/month.
Which city has higher income, Louisville or Richmond?
Median household income is $64,731 in Louisville and $62,671 in Richmond. Median household income is $2,060/year higher in Louisville.
How do taxes compare between Kentucky and Virginia?
Kentucky has 4.0% income tax, 6.0% sales tax, and 0.83% property tax. Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax.
Should I move to Louisville or Richmond?
It depends on your priorities. Louisville has a cost index of 74 with median rent of $1,069/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 Louisville details → View Richmond details →

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