Cost of Living: Richmond, VA vs Charleston, SC (2026)

Richmond

Virginia
98
VS

Charleston

South Carolina
128

Richmond is 23% cheaper than Charleston.

$1,314/mo ↓ 19%
Median Rent
$1,632/mo ↑ 24%
$62,671/yr ↓ 30%
Median Income
$90,038/yr ↑ 44%
$328,100 ↓ 30%
Home Value
$469,100 ↑ 43%
$1,374/mo ↓ 19%
Owner Costs
$1,688/mo ↑ 23%
227,595
Population
152,014

Tax Comparison

5.75%
Income Tax
6.4%
5.3%
State Sales Tax
6.0%
0.8%
Property Tax
0.57%

Affordability

25.2%
rent-to-income
Affordability
21.8%
rent-to-income

Detailed Comparison

When comparing Richmond, VA and Charleston, SC, the overall cost of living indices are 98 and 128 respectively (national median = 100). Rent is $318/month cheaper in Richmond, saving renters about $3,816/year.

Median household income is $27,367/year higher in Charleston. Home values also differ significantly — the median in Richmond is $328,100 compared to $469,100 in Charleston.

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

Frequently Asked Questions

Richmond vs Charleston — common questions

Is Richmond or Charleston cheaper to live in?
Based on our cost index, Richmond is cheaper to live in with an index of 98 compared to 128 (US average = 100).
What is the rent difference between Richmond and Charleston?
Median rent in Richmond is $1,314/month and in Charleston it's $1,632/month — a difference of $318/month.
Which city has higher income, Richmond or Charleston?
Median household income is $62,671 in Richmond and $90,038 in Charleston. Median household income is $27,367/year higher in Charleston.
How do taxes compare between Virginia and South Carolina?
Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax. South Carolina has 6.4% income tax, 6.0% sales tax, and 0.57% property tax.
Should I move to Richmond or Charleston?
It depends on your priorities. Richmond has a cost index of 98 with median rent of $1,314/mo, while Charleston has a cost index of 128 with rent of $1,632/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Richmond details → View Charleston details →

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