Cost of Living: Richmond, VA vs Lafayette, LA (2026)

Richmond

Virginia
98
VS

Lafayette

Louisiana
77

Richmond is 27% more expensive than Lafayette.

$1,314/mo ↑ 23%
Median Rent
$1,065/mo ↓ 19%
$62,671/yr ↑ 2%
Median Income
$61,454/yr ↓ 2%
$328,100 ↑ 31%
Home Value
$251,300 ↓ 23%
$1,374/mo ↑ 30%
Owner Costs
$1,057/mo ↓ 23%
227,595
Population
121,537

Tax Comparison

5.75%
Income Tax
4.25%
5.3%
State Sales Tax
4.45%
0.8%
Property Tax
0.55%

Affordability

25.2%
rent-to-income
Affordability
20.8%
rent-to-income

Detailed Comparison

When comparing Richmond, VA and Lafayette, LA, the overall cost of living indices are 98 and 77 respectively (national median = 100). Rent is $249/month cheaper in Lafayette, saving renters about $2,988/year.

Median household income is $1,217/year higher in Richmond. Home values also differ significantly — the median in Richmond is $328,100 compared to $251,300 in Lafayette.

Louisiana has a lower income tax rate, making Lafayette slightly more tax-friendly.

Frequently Asked Questions

Richmond vs Lafayette — common questions

Is Richmond or Lafayette cheaper to live in?
Based on our cost index, Lafayette is cheaper to live in with an index of 77 compared to 98 (US average = 100).
What is the rent difference between Richmond and Lafayette?
Median rent in Richmond is $1,314/month and in Lafayette it's $1,065/month — a difference of $249/month.
Which city has higher income, Richmond or Lafayette?
Median household income is $62,671 in Richmond and $61,454 in Lafayette. Median household income is $1,217/year higher in Richmond.
How do taxes compare between Virginia and Louisiana?
Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax. Louisiana has 4.25% income tax, 4.45% sales tax, and 0.55% property tax.
Should I move to Richmond or Lafayette?
It depends on your priorities. Richmond has a cost index of 98 with median rent of $1,314/mo, while Lafayette has a cost index of 77 with rent of $1,065/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Richmond details → View Lafayette details →

More Comparisons

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