Cost of Living: Richmond, VA vs Cambridge, MA (2026)

Richmond

Virginia
98
VS

Cambridge

Massachusetts
239

Richmond is 59% cheaper than Cambridge.

$1,314/mo ↓ 52%
Median Rent
$2,742/mo ↑ 109%
$62,671/yr ↓ 50%
Median Income
$126,469/yr ↑ 102%
$328,100 ↓ 68%
Home Value
$1,040,500 ↑ 217%
$1,374/mo ↓ 48%
Owner Costs
$2,634/mo ↑ 92%
227,595
Population
117,794

Tax Comparison

5.75%
Income Tax
9.0%
5.3%
State Sales Tax
6.25%
0.8%
Property Tax
1.15%

Affordability

25.2%
rent-to-income
Affordability
26.0%
rent-to-income

Detailed Comparison

When comparing Richmond, VA and Cambridge, MA, the overall cost of living indices are 98 and 239 respectively (national median = 100). Rent is $1,428/month cheaper in Richmond, saving renters about $17,136/year.

Median household income is $63,798/year higher in Cambridge. Home values also differ significantly — the median in Richmond is $328,100 compared to $1,040,500 in Cambridge.

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

Frequently Asked Questions

Richmond vs Cambridge — common questions

Is Richmond or Cambridge cheaper to live in?
Based on our cost index, Richmond is cheaper to live in with an index of 98 compared to 239 (US average = 100).
What is the rent difference between Richmond and Cambridge?
Median rent in Richmond is $1,314/month and in Cambridge it's $2,742/month — a difference of $1,428/month.
Which city has higher income, Richmond or Cambridge?
Median household income is $62,671 in Richmond and $126,469 in Cambridge. Median household income is $63,798/year higher in Cambridge.
How do taxes compare between Virginia and Massachusetts?
Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax. Massachusetts has 9.0% income tax, 6.25% sales tax, and 1.15% property tax.
Should I move to Richmond or Cambridge?
It depends on your priorities. Richmond has a cost index of 98 with median rent of $1,314/mo, while Cambridge has a cost index of 239 with rent of $2,742/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Richmond details → View Cambridge details →

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