Cost of living – Expenses compared to national average
Greater Richmond offers a high quality of life on par with the national average cost. According to the Center for Community and Economic Research’s ACCRA Cost of Living Index, Annual Average 2016, Richmond’s overall cost of living is over five percent below the national average, 94.3 and 100.0, respectively. Housing costs, which account for 28 percent of the index, are 11 percent lower in Greater Richmond than the national average.
|Composite Index (100%)||94.3|
|Grocery Items (14%)||93.5|
|Health Care (4%)||104.8|
|Misc. Goods & Services (32%)||96.6|
Source: Council for Community and Economic Research Cost of Living Index, Annual Average 2016.