Cost of Living: Richmond, VA vs Cape Coral, FL (2026)

Richmond

Virginia
98
VS

Cape Coral

Florida
114

Richmond is 14% cheaper than Cape Coral.

$1,314/mo ↓ 25%
Median Rent
$1,751/mo ↑ 33%
$62,671/yr ↓ 18%
Median Income
$76,062/yr ↑ 21%
$328,100 ↓ 3%
Home Value
$339,200 ↑ 3%
$1,374/mo ↓ 10%
Owner Costs
$1,523/mo ↑ 11%
227,595
Population
206,387

Tax Comparison

5.75%
Income Tax
0%
5.3%
State Sales Tax
6.0%
0.8%
Property Tax
0.86%

Affordability

25.2%
rent-to-income
Affordability
27.6%
rent-to-income

Detailed Comparison

When comparing Richmond, VA and Cape Coral, FL, the overall cost of living indices are 98 and 114 respectively (national median = 100). Rent is $437/month cheaper in Richmond, saving renters about $5,244/year.

Median household income is $13,391/year higher in Cape Coral. Home values also differ significantly — the median in Richmond is $328,100 compared to $339,200 in Cape Coral.

Florida has no state income tax, giving Cape Coral residents a significant tax advantage over Virginia's 5.75% rate.

Frequently Asked Questions

Richmond vs Cape Coral — common questions

Is Richmond or Cape Coral cheaper to live in?
Based on our cost index, Richmond is cheaper to live in with an index of 98 compared to 114 (US average = 100).
What is the rent difference between Richmond and Cape Coral?
Median rent in Richmond is $1,314/month and in Cape Coral it's $1,751/month — a difference of $437/month.
Which city has higher income, Richmond or Cape Coral?
Median household income is $62,671 in Richmond and $76,062 in Cape Coral. Median household income is $13,391/year higher in Cape Coral.
How do taxes compare between Virginia and Florida?
Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax. Florida has 0% income tax, 6.0% sales tax, and 0.86% property tax.
Should I move to Richmond or Cape Coral?
It depends on your priorities. Richmond has a cost index of 98 with median rent of $1,314/mo, while Cape Coral has a cost index of 114 with rent of $1,751/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Richmond details → View Cape Coral details →

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