Cost of Living: Richmond, VA vs Fargo, ND (2026)

Richmond

Virginia
98
VS

Fargo

North Dakota
73

Richmond is 34% more expensive than Fargo.

$1,314/mo ↑ 43%
Median Rent
$916/mo ↓ 30%
$62,671/yr ↓ 5%
Median Income
$66,029/yr ↑ 5%
$328,100 ↑ 22%
Home Value
$269,800 ↓ 18%
$1,374/mo ↑ 38%
Owner Costs
$997/mo ↓ 27%
227,595
Population
129,064

Tax Comparison

5.75%
Income Tax
2.5%
5.3%
State Sales Tax
5.0%
0.8%
Property Tax
0.98%

Affordability

25.2%
rent-to-income
Affordability
16.6%
rent-to-income

Detailed Comparison

When comparing Richmond, VA and Fargo, ND, the overall cost of living indices are 98 and 73 respectively (national median = 100). Rent is $398/month cheaper in Fargo, saving renters about $4,776/year.

Median household income is $3,358/year higher in Fargo. Home values also differ significantly — the median in Richmond is $328,100 compared to $269,800 in Fargo.

North Dakota has a lower income tax rate, making Fargo slightly more tax-friendly.

Frequently Asked Questions

Richmond vs Fargo — common questions

Is Richmond or Fargo cheaper to live in?
Based on our cost index, Fargo is cheaper to live in with an index of 73 compared to 98 (US average = 100).
What is the rent difference between Richmond and Fargo?
Median rent in Richmond is $1,314/month and in Fargo it's $916/month — a difference of $398/month.
Which city has higher income, Richmond or Fargo?
Median household income is $62,671 in Richmond and $66,029 in Fargo. Median household income is $3,358/year higher in Fargo.
How do taxes compare between Virginia and North Dakota?
Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax. North Dakota has 2.5% income tax, 5.0% sales tax, and 0.98% property tax.
Should I move to Richmond or Fargo?
It depends on your priorities. Richmond has a cost index of 98 with median rent of $1,314/mo, while Fargo has a cost index of 73 with rent of $916/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Richmond details → View Fargo details →

More Comparisons

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Richmond vs. Fremont Richmond vs. Baton Rouge Richmond vs. Santa Clarita Richmond vs. Hialeah Richmond vs. Spokane Richmond vs. San Bernardino Fargo vs. Santa Clara Fargo vs. Norman Fargo vs. Carrollton Fargo vs. Lewisville Fargo vs. New Haven Fargo vs. Lehigh Acres