Philadelphia, PA vs Richmond, VA: 85 vs 98

$1,323/mo ≈ Same

Median Rent

$1,314/mo ≈ Same

$60,698/yr ↓ 3%

Median Income

$62,671/yr ↑ 3%

$232,400 ↓ 29%

Home Value

$328,100 ↑ 41%

$1,233/mo ↓ 10%

Owner Costs

$1,374/mo ↑ 11%

1,582,432

Population

227,595

Detailed Comparison

When comparing Philadelphia, PA and Richmond, VA, the overall cost of living indices are 85 and 98 respectively (national median = 100). Rent is comparable in both cities, with less than $50/month separating them.

Median household income is $1,973/year higher in Richmond. Home values also differ significantly — the median in Philadelphia is $232,400 compared to $328,100 in Richmond.

Pennsylvania has a lower income tax rate, making Philadelphia slightly more tax-friendly.

Frequently Asked Questions

Philadelphia vs Richmond — common questions

Is Philadelphia or Richmond cheaper to live in?

Based on our cost index, Philadelphia is cheaper to live in with an index of 85 compared to 98 (US average = 100).

What is the rent difference between Philadelphia and Richmond?

Median rent in Philadelphia is $1,323/month and in Richmond it's $1,314/month — a difference of $9/month.

Which city has higher income, Philadelphia or Richmond?

Median household income is $60,698 in Philadelphia and $62,671 in Richmond. Median household income is $1,973/year higher in Richmond.

How do taxes compare between Pennsylvania and Virginia?

Pennsylvania has 3.07% income tax, 6.0% sales tax, and 1.49% property tax. Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax.

Should I move to Philadelphia or Richmond?

It depends on your priorities. Philadelphia has a cost index of 85 with median rent of $1,323/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: Philadelphia, PA vs Richmond, VA (2026)

Philadelphia

Richmond

Tax Comparison

Affordability

Detailed Comparison

Frequently Asked Questions

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