Cost of living – Expenses compared to national average

The Richmond Region offers a high quality of life on par with the national average cost. According to the Center for Community and Economic Research’s Cost of Living Index, Q3 2019, our region’s overall cost of living is four percent below the national average, 96.0 and 100.0, respectively. Housing costs, which account for 29 percent of the index, are nearly 13 percent lower in the Richmond area than the national average.

Richmond MSA
Composite Index (100%) 96.0
Grocery Items (14%) 91.2
Housing (29%) 87.4
Utilities (9%) 104.2
Transportation (9%) 90.2
Health Care (4%) 104.6
Misc. Goods & Services (35%) 102.7
100=U.S. Average

Source: Council for Community and Economic Research Cost of Living Index, Q3 2020.

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