Cost of Living: Tampa, FL vs Richmond, VA (2026)

Tampa

Florida
113
VS

Richmond

Virginia
98

Tampa is 15% more expensive than Richmond.

$1,567/mo ↑ 19%
Median Rent
$1,314/mo ↓ 16%
$71,302/yr ↑ 14%
Median Income
$62,671/yr ↓ 12%
$375,300 ↑ 14%
Home Value
$328,100 ↓ 13%
$1,553/mo ↑ 13%
Owner Costs
$1,374/mo ↓ 12%
393,389
Population
227,595

Tax Comparison

0%
Income Tax
5.75%
6.0%
State Sales Tax
5.3%
0.86%
Property Tax
0.8%

Affordability

26.4%
rent-to-income
Affordability
25.2%
rent-to-income

Detailed Comparison

When comparing Tampa, FL and Richmond, VA, the overall cost of living indices are 113 and 98 respectively (national median = 100). Rent is $253/month cheaper in Richmond, saving renters about $3,036/year.

Median household income is $8,631/year higher in Tampa. Home values also differ significantly — the median in Tampa is $375,300 compared to $328,100 in Richmond.

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

Frequently Asked Questions

Tampa vs Richmond — common questions

Is Tampa or Richmond cheaper to live in?
Based on our cost index, Richmond is cheaper to live in with an index of 98 compared to 113 (US average = 100).
What is the rent difference between Tampa and Richmond?
Median rent in Tampa is $1,567/month and in Richmond it's $1,314/month — a difference of $253/month.
Which city has higher income, Tampa or Richmond?
Median household income is $71,302 in Tampa and $62,671 in Richmond. Median household income is $8,631/year higher in Tampa.
How do taxes compare between Florida and Virginia?
Florida has 0% income tax, 6.0% sales tax, and 0.86% property tax. Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax.
Should I move to Tampa or Richmond?
It depends on your priorities. Tampa has a cost index of 113 with median rent of $1,567/mo, while Richmond has a cost index of 98 with rent of $1,314/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Tampa details → View Richmond details →

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