Cost of Living: Richmond, VA vs Independence, MO (2026)

Richmond

Virginia
98
VS

Independence

Missouri
67

Richmond is 46% more expensive than Independence.

$1,314/mo ↑ 24%
Median Rent
$1,061/mo ↓ 19%
$62,671/yr ↑ 5%
Median Income
$59,480/yr ↓ 5%
$328,100 ↑ 97%
Home Value
$166,400 ↓ 49%
$1,374/mo ↑ 31%
Owner Costs
$1,046/mo ↓ 24%
227,595
Population
121,944

Tax Comparison

5.75%
Income Tax
4.95%
5.3%
State Sales Tax
4.225%
0.8%
Property Tax
0.93%

Affordability

25.2%
rent-to-income
Affordability
21.4%
rent-to-income

Detailed Comparison

When comparing Richmond, VA and Independence, MO, the overall cost of living indices are 98 and 67 respectively (national median = 100). Rent is $253/month cheaper in Independence, saving renters about $3,036/year.

Median household income is $3,191/year higher in Richmond. Home values also differ significantly — the median in Richmond is $328,100 compared to $166,400 in Independence.

Missouri has a lower income tax rate, making Independence slightly more tax-friendly.

Frequently Asked Questions

Richmond vs Independence — common questions

Is Richmond or Independence cheaper to live in?
Based on our cost index, Independence is cheaper to live in with an index of 67 compared to 98 (US average = 100).
What is the rent difference between Richmond and Independence?
Median rent in Richmond is $1,314/month and in Independence it's $1,061/month — a difference of $253/month.
Which city has higher income, Richmond or Independence?
Median household income is $62,671 in Richmond and $59,480 in Independence. Median household income is $3,191/year higher in Richmond.
How do taxes compare between Virginia and Missouri?
Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax. Missouri has 4.95% income tax, 4.225% sales tax, and 0.93% property tax.
Should I move to Richmond or Independence?
It depends on your priorities. Richmond has a cost index of 98 with median rent of $1,314/mo, while Independence has a cost index of 67 with rent of $1,061/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Richmond details → View Independence details →

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