Cost of Living: Richmond, VA vs Richardson, TX (2026)

Richmond

Virginia
98
VS

Richardson

Texas
128

Richmond is 23% cheaper than Richardson.

$1,314/mo ↓ 28%
Median Rent
$1,825/mo ↑ 39%
$62,671/yr ↓ 35%
Median Income
$96,257/yr ↑ 54%
$328,100 ↓ 19%
Home Value
$405,600 ↑ 24%
$1,374/mo ↓ 23%
Owner Costs
$1,796/mo ↑ 31%
227,595
Population
118,269

Tax Comparison

5.75%
Income Tax
0%
5.3%
State Sales Tax
6.25%
0.8%
Property Tax
1.6%

Affordability

25.2%
rent-to-income
Affordability
22.8%
rent-to-income

Detailed Comparison

When comparing Richmond, VA and Richardson, TX, the overall cost of living indices are 98 and 128 respectively (national median = 100). Rent is $511/month cheaper in Richmond, saving renters about $6,132/year.

Median household income is $33,586/year higher in Richardson. Home values also differ significantly — the median in Richmond is $328,100 compared to $405,600 in Richardson.

Texas has no state income tax, giving Richardson residents a significant tax advantage over Virginia's 5.75% rate.

Frequently Asked Questions

Richmond vs Richardson — common questions

Is Richmond or Richardson cheaper to live in?
Based on our cost index, Richmond is cheaper to live in with an index of 98 compared to 128 (US average = 100).
What is the rent difference between Richmond and Richardson?
Median rent in Richmond is $1,314/month and in Richardson it's $1,825/month — a difference of $511/month.
Which city has higher income, Richmond or Richardson?
Median household income is $62,671 in Richmond and $96,257 in Richardson. Median household income is $33,586/year higher in Richardson.
How do taxes compare between Virginia and Texas?
Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax. Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax.
Should I move to Richmond or Richardson?
It depends on your priorities. Richmond has a cost index of 98 with median rent of $1,314/mo, while Richardson has a cost index of 128 with rent of $1,825/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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More Comparisons

Other cost of living comparisons for Richmond and Richardson

Richmond vs. Fremont Richmond vs. Baton Rouge Richmond vs. Santa Clarita Richmond vs. Hialeah Richmond vs. Spokane Richmond vs. San Bernardino Richardson vs. Billings Richardson vs. Cambridge Richardson vs. Wilmington Richardson vs. North Charleston Richardson vs. Spring Hill Richardson vs. Clearwater