Cost of Living: Richmond, VA vs Lakewood, CO (2026)

Richmond

Virginia
98
VS

Lakewood

Colorado
141

Richmond is 30% cheaper than Lakewood.

$1,314/mo ↓ 25%
Median Rent
$1,746/mo ↑ 33%
$62,671/yr ↓ 27%
Median Income
$85,789/yr ↑ 37%
$328,100 ↓ 40%
Home Value
$548,200 ↑ 67%
$1,374/mo ↓ 21%
Owner Costs
$1,729/mo ↑ 26%
227,595
Population
156,309

Tax Comparison

5.75%
Income Tax
4.4%
5.3%
State Sales Tax
2.9%
0.8%
Property Tax
0.51%

Affordability

25.2%
rent-to-income
Affordability
24.4%
rent-to-income

Detailed Comparison

When comparing Richmond, VA and Lakewood, CO, the overall cost of living indices are 98 and 141 respectively (national median = 100). Rent is $432/month cheaper in Richmond, saving renters about $5,184/year.

Median household income is $23,118/year higher in Lakewood. Home values also differ significantly — the median in Richmond is $328,100 compared to $548,200 in Lakewood.

Colorado has a lower income tax rate, making Lakewood slightly more tax-friendly.

Frequently Asked Questions

Richmond vs Lakewood — common questions

Is Richmond or Lakewood cheaper to live in?
Based on our cost index, Richmond is cheaper to live in with an index of 98 compared to 141 (US average = 100).
What is the rent difference between Richmond and Lakewood?
Median rent in Richmond is $1,314/month and in Lakewood it's $1,746/month — a difference of $432/month.
Which city has higher income, Richmond or Lakewood?
Median household income is $62,671 in Richmond and $85,789 in Lakewood. Median household income is $23,118/year higher in Lakewood.
How do taxes compare between Virginia and Colorado?
Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax. Colorado has 4.4% income tax, 2.9% sales tax, and 0.51% property tax.
Should I move to Richmond or Lakewood?
It depends on your priorities. Richmond has a cost index of 98 with median rent of $1,314/mo, while Lakewood has a cost index of 141 with rent of $1,746/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Richmond details → View Lakewood details →

More Comparisons

Other cost of living comparisons for Richmond and Lakewood

Richmond vs. Fremont Richmond vs. Baton Rouge Richmond vs. Santa Clarita Richmond vs. Hialeah Richmond vs. Spokane Richmond vs. San Bernardino Lakewood vs. Macon Lakewood vs. Killeen Lakewood vs. Alexandria Lakewood vs. Kansas City Lakewood vs. Murfreesboro Lakewood vs. Springfield