Cost of Living: Richmond, VA vs Wilmington, NC (2026)

Richmond

Virginia
98
VS

Wilmington

North Carolina
100

Richmond and Wilmington have a similar cost of living.

$1,314/mo ≈ Same
Median Rent
$1,311/mo ≈ Same
$62,671/yr ↓ 2%
Median Income
$63,900/yr ↑ 2%
$328,100 ↓ 6%
Home Value
$350,300 ↑ 7%
$1,374/mo ≈ Same
Owner Costs
$1,371/mo ≈ Same
227,595
Population
118,578

Tax Comparison

5.75%
Income Tax
4.5%
5.3%
State Sales Tax
4.75%
0.8%
Property Tax
0.8%

Affordability

25.2%
rent-to-income
Affordability
24.6%
rent-to-income

Detailed Comparison

When comparing Richmond, VA and Wilmington, NC, the overall cost of living indices are 98 and 100 respectively (national median = 100). Rent is comparable in both cities, with less than $50/month separating them.

Median household income is $1,229/year higher in Wilmington. Home values also differ significantly — the median in Richmond is $328,100 compared to $350,300 in Wilmington.

North Carolina has a lower income tax rate, making Wilmington slightly more tax-friendly.

Frequently Asked Questions

Richmond vs Wilmington — common questions

Is Richmond or Wilmington cheaper to live in?
Based on our cost index, Richmond is cheaper to live in with an index of 98 compared to 100 (US average = 100).
What is the rent difference between Richmond and Wilmington?
Median rent in Richmond is $1,314/month and in Wilmington it's $1,311/month — a difference of $3/month.
Which city has higher income, Richmond or Wilmington?
Median household income is $62,671 in Richmond and $63,900 in Wilmington. Median household income is $1,229/year higher in Wilmington.
How do taxes compare between Virginia and North Carolina?
Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax. North Carolina has 4.5% income tax, 4.75% sales tax, and 0.8% property tax.
Should I move to Richmond or Wilmington?
It depends on your priorities. Richmond has a cost index of 98 with median rent of $1,314/mo, while Wilmington has a cost index of 100 with rent of $1,311/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Richmond details → View Wilmington details →

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