Norfolk, VA vs Richmond, VA: 89 vs 98

$1,246/mo ↓ 5%

Median Rent

$1,314/mo ↑ 5%

$64,017/yr ↑ 2%

Median Income

$62,671/yr ↓ 2%

$271,900 ↓ 17%

Home Value

$328,100 ↑ 21%

$1,366/mo ≈ Same

Owner Costs

$1,374/mo ≈ Same

235,037

Population

227,595

Detailed Comparison

When comparing Norfolk, VA and Richmond, VA, the overall cost of living indices are 89 and 98 respectively (national median = 100). Rent is $68/month cheaper in Norfolk, saving renters about $816/year.

Median household income is $1,346/year higher in Norfolk. Home values also differ significantly — the median in Norfolk is $271,900 compared to $328,100 in Richmond.

Both cities share the same state tax structure since they are in Virginia.

Frequently Asked Questions

Norfolk vs Richmond — common questions

Is Norfolk or Richmond cheaper to live in?

Based on our cost index, Norfolk is cheaper to live in with an index of 89 compared to 98 (US average = 100).

What is the rent difference between Norfolk and Richmond?

Median rent in Norfolk is $1,246/month and in Richmond it's $1,314/month — a difference of $68/month.

Which city has higher income, Norfolk or Richmond?

Median household income is $64,017 in Norfolk and $62,671 in Richmond. Median household income is $1,346/year higher in Norfolk.

How do taxes compare between Virginia and Virginia?

Both cities are in Virginia and share the same state tax rates: 5.75% income tax, 5.3% sales tax, and 0.8% property tax.

Should I move to Norfolk or Richmond?

It depends on your priorities. Norfolk has a cost index of 89 with median rent of $1,246/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: Norfolk, VA vs Richmond, VA (2026)

Norfolk

Richmond

Tax Comparison

Affordability

Detailed Comparison

Frequently Asked Questions

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