Cost of Living: Richmond, VA vs Springfield, MA (2026)

Richmond

Virginia
98
VS

Springfield

Massachusetts
79

Richmond is 24% more expensive than Springfield.

$1,314/mo ↑ 18%
Median Rent
$1,114/mo ↓ 15%
$62,671/yr ↑ 22%
Median Income
$51,339/yr ↓ 18%
$328,100 ↑ 47%
Home Value
$222,700 ↓ 32%
$1,374/mo ↑ 8%
Owner Costs
$1,276/mo ↓ 7%
227,595
Population
154,751

Tax Comparison

5.75%
Income Tax
9.0%
5.3%
State Sales Tax
6.25%
0.8%
Property Tax
1.15%

Affordability

25.2%
rent-to-income
Affordability
26.0%
rent-to-income

Detailed Comparison

When comparing Richmond, VA and Springfield, MA, the overall cost of living indices are 98 and 79 respectively (national median = 100). Rent is $200/month cheaper in Springfield, saving renters about $2,400/year.

Median household income is $11,332/year higher in Richmond. Home values also differ significantly — the median in Richmond is $328,100 compared to $222,700 in Springfield.

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

Frequently Asked Questions

Richmond vs Springfield — common questions

Is Richmond or Springfield cheaper to live in?
Based on our cost index, Springfield is cheaper to live in with an index of 79 compared to 98 (US average = 100).
What is the rent difference between Richmond and Springfield?
Median rent in Richmond is $1,314/month and in Springfield it's $1,114/month — a difference of $200/month.
Which city has higher income, Richmond or Springfield?
Median household income is $62,671 in Richmond and $51,339 in Springfield. Median household income is $11,332/year higher in Richmond.
How do taxes compare between Virginia and Massachusetts?
Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax. Massachusetts has 9.0% income tax, 6.25% sales tax, and 1.15% property tax.
Should I move to Richmond or Springfield?
It depends on your priorities. Richmond has a cost index of 98 with median rent of $1,314/mo, while Springfield has a cost index of 79 with rent of $1,114/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Richmond details → View Springfield details →

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