Cost of Living: Richmond, VA vs Alexandria, VA (2026)

Richmond

Virginia
98
VS

Alexandria

Virginia
173

Richmond is 43% cheaper than Alexandria.

$1,314/mo ↓ 35%
Median Rent
$2,031/mo ↑ 55%
$62,671/yr ↓ 45%
Median Income
$113,638/yr ↑ 81%
$328,100 ↓ 53%
Home Value
$696,800 ↑ 112%
$1,374/mo ↓ 37%
Owner Costs
$2,173/mo ↑ 58%
227,595
Population
156,788

Tax Comparison

5.75%
Income Tax
5.75%
5.3%
State Sales Tax
5.3%
0.8%
Property Tax
0.8%

Affordability

25.2%
rent-to-income
Affordability
21.4%
rent-to-income

Detailed Comparison

When comparing Richmond, VA and Alexandria, VA, the overall cost of living indices are 98 and 173 respectively (national median = 100). Rent is $717/month cheaper in Richmond, saving renters about $8,604/year.

Median household income is $50,967/year higher in Alexandria. Home values also differ significantly — the median in Richmond is $328,100 compared to $696,800 in Alexandria.

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

Frequently Asked Questions

Richmond vs Alexandria — common questions

Is Richmond or Alexandria cheaper to live in?
Based on our cost index, Richmond is cheaper to live in with an index of 98 compared to 173 (US average = 100).
What is the rent difference between Richmond and Alexandria?
Median rent in Richmond is $1,314/month and in Alexandria it's $2,031/month — a difference of $717/month.
Which city has higher income, Richmond or Alexandria?
Median household income is $62,671 in Richmond and $113,638 in Alexandria. Median household income is $50,967/year higher in Alexandria.
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 Richmond or Alexandria?
It depends on your priorities. Richmond has a cost index of 98 with median rent of $1,314/mo, while Alexandria has a cost index of 173 with rent of $2,031/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Richmond details → View Alexandria details →

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