Cost of Living: Richmond, VA vs New Haven, CT (2026)

Richmond

Virginia
98
VS

New Haven

Connecticut
95

Richmond is 3% more expensive than New Haven.

$1,314/mo ↓ 9%
Median Rent
$1,442/mo ↑ 10%
$62,671/yr ↑ 17%
Median Income
$53,771/yr ↓ 14%
$328,100 ↑ 32%
Home Value
$249,000 ↓ 24%
$1,374/mo ↓ 10%
Owner Costs
$1,520/mo ↑ 11%
227,595
Population
132,893

Tax Comparison

5.75%
Income Tax
6.99%
5.3%
State Sales Tax
6.35%
0.8%
Property Tax
2.15%

Affordability

25.2%
rent-to-income
Affordability
32.2%
rent-to-income

Detailed Comparison

When comparing Richmond, VA and New Haven, CT, the overall cost of living indices are 98 and 95 respectively (national median = 100). Rent is $128/month cheaper in Richmond, saving renters about $1,536/year.

Median household income is $8,900/year higher in Richmond. Home values also differ significantly — the median in Richmond is $328,100 compared to $249,000 in New Haven.

Virginia has a lower income tax rate, making Richmond slightly more tax-friendly.

Frequently Asked Questions

Richmond vs New Haven — common questions

Is Richmond or New Haven cheaper to live in?
Based on our cost index, New Haven is cheaper to live in with an index of 95 compared to 98 (US average = 100).
What is the rent difference between Richmond and New Haven?
Median rent in Richmond is $1,314/month and in New Haven it's $1,442/month — a difference of $128/month.
Which city has higher income, Richmond or New Haven?
Median household income is $62,671 in Richmond and $53,771 in New Haven. Median household income is $8,900/year higher in Richmond.
How do taxes compare between Virginia and Connecticut?
Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax. Connecticut has 6.99% income tax, 6.35% sales tax, and 2.15% property tax.
Should I move to Richmond or New Haven?
It depends on your priorities. Richmond has a cost index of 98 with median rent of $1,314/mo, while New Haven has a cost index of 95 with rent of $1,442/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Richmond details → View New Haven details →

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