Cost of Living: Richmond, VA vs Billings, MT (2026)

Richmond

Virginia
98
VS

Billings

Montana
86

Richmond is 14% more expensive than Billings.

$1,314/mo ↑ 20%
Median Rent
$1,097/mo ↓ 17%
$62,671/yr ↓ 13%
Median Income
$71,855/yr ↑ 15%
$328,100 ↑ 5%
Home Value
$311,800 ↓ 5%
$1,374/mo ↑ 17%
Owner Costs
$1,177/mo ↓ 14%
227,595
Population
118,321

Tax Comparison

5.75%
Income Tax
6.75%
5.3%
State Sales Tax
0%
0.8%
Property Tax
0.74%

Affordability

25.2%
rent-to-income
Affordability
18.3%
rent-to-income

Detailed Comparison

When comparing Richmond, VA and Billings, MT, the overall cost of living indices are 98 and 86 respectively (national median = 100). Rent is $217/month cheaper in Billings, saving renters about $2,604/year.

Median household income is $9,184/year higher in Billings. Home values also differ significantly — the median in Richmond is $328,100 compared to $311,800 in Billings.

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

Frequently Asked Questions

Richmond vs Billings — common questions

Is Richmond or Billings cheaper to live in?
Based on our cost index, Billings is cheaper to live in with an index of 86 compared to 98 (US average = 100).
What is the rent difference between Richmond and Billings?
Median rent in Richmond is $1,314/month and in Billings it's $1,097/month — a difference of $217/month.
Which city has higher income, Richmond or Billings?
Median household income is $62,671 in Richmond and $71,855 in Billings. Median household income is $9,184/year higher in Billings.
How do taxes compare between Virginia and Montana?
Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax. Montana has 6.75% income tax, 0% sales tax, and 0.74% property tax.
Should I move to Richmond or Billings?
It depends on your priorities. Richmond has a cost index of 98 with median rent of $1,314/mo, while Billings has a cost index of 86 with rent of $1,097/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Richmond details → View Billings details →

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