Cost of Living: Richmond, VA vs Dearborn, MI (2026)

Richmond

Virginia
98
VS

Dearborn

Michigan
79

Richmond is 24% more expensive than Dearborn.

$1,314/mo ↑ 4%
Median Rent
$1,264/mo ↓ 4%
$62,671/yr ↓ 4%
Median Income
$65,192/yr ↑ 4%
$328,100 ↑ 59%
Home Value
$205,900 ↓ 37%
$1,374/mo ↑ 17%
Owner Costs
$1,174/mo ↓ 15%
227,595
Population
107,846

Tax Comparison

5.75%
Income Tax
4.25%
5.3%
State Sales Tax
6.0%
0.8%
Property Tax
1.38%

Affordability

25.2%
rent-to-income
Affordability
23.3%
rent-to-income

Detailed Comparison

When comparing Richmond, VA and Dearborn, MI, the overall cost of living indices are 98 and 79 respectively (national median = 100). Rent is $50/month cheaper in Dearborn, saving renters about $600/year.

Median household income is $2,521/year higher in Dearborn. Home values also differ significantly — the median in Richmond is $328,100 compared to $205,900 in Dearborn.

Michigan has a lower income tax rate, making Dearborn slightly more tax-friendly.

Frequently Asked Questions

Richmond vs Dearborn — common questions

Is Richmond or Dearborn cheaper to live in?
Based on our cost index, Dearborn is cheaper to live in with an index of 79 compared to 98 (US average = 100).
What is the rent difference between Richmond and Dearborn?
Median rent in Richmond is $1,314/month and in Dearborn it's $1,264/month — a difference of $50/month.
Which city has higher income, Richmond or Dearborn?
Median household income is $62,671 in Richmond and $65,192 in Dearborn. Median household income is $2,521/year higher in Dearborn.
How do taxes compare between Virginia and Michigan?
Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax. Michigan has 4.25% income tax, 6.0% sales tax, and 1.38% property tax.
Should I move to Richmond or Dearborn?
It depends on your priorities. Richmond has a cost index of 98 with median rent of $1,314/mo, while Dearborn has a cost index of 79 with rent of $1,264/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Richmond details → View Dearborn details →

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