Is Richmond, VA cheaper or more expensive than Baltimore, MD?

Richmond, VA (RPP 97.7) is cheaper than Baltimore, MD (RPP 102.4) by about 4.6%.

What salary do I need in Richmond, VA if I earn $100,000 in Baltimore, MD?

You would need approximately $95,410 in Richmond, VA to maintain the same purchasing power as $100,000 in Baltimore, MD. Formula: $100,000 x (97.7 / 102.4).

Which metro had stronger net migration, Baltimore, MD or Richmond, VA?

For 2021-2022, Baltimore, MD had a net loss of 11,489 people, while Richmond, VA had a net gain of 6,605 people. IRS small-flow suppression means these are lower-bound research signals, not complete population-change totals.

Route comparison

Baltimore, MD vs Richmond, VA: Cost of Living

Compare the cost of living between Baltimore, MD and Richmond, VA. See the equivalent salary and median rent powered by BLS Regional Price Parities.

Source-verified · June 2026BEA Regional Price Parities by MSA, 2022 (Table 4); HUD FY2024 Fair Market Rents (2-BR) Official source ↗

Baltimore, MD

Overall RPP (US=100): 102.4
Housing RPP: 120.5
Goods RPP: 100.9
2-BR median rent: $1,943/mo

Maryland income tax 2%-5.75% + county piggyback tax. Baltimore city adds 3.2%.

Richmond, VA

Overall RPP (US=100): 97.7
Housing RPP: 98.2
Goods RPP: 95.7
2-BR median rent: $1,532/mo

Virginia income tax 2%-5.75%.

Equivalent salary

Richmond, VA is cheaper than Baltimore, MD by about 4.6% (RPP 102.4 to 97.7).

$60,000 in Baltimore, MD

-> $57,246

in Richmond, VA

$100,000 in Baltimore, MD

-> $95,410

in Richmond, VA

$150,000 in Baltimore, MD

-> $143,115

in Richmond, VA

This tool provides estimates only. Equivalent-salary figures are derived from BLS Regional Price Parities (RPP) and HUD Fair Market Rents — they are averages, not guarantees. Actual cost of living varies by neighborhood, lifestyle, and individual circumstances. Not financial advice.

Migration signal: Baltimore, MD vs Richmond, VA

IRS tax-return migration · 2021-2022

Baltimore, MD

Net people: −11,489
Net rank: #51 of 65
Top origin share: 8%
Top destination share: 4%

Largest source: Prince George's County, MD. Largest destination: Prince George's County, MD.

Richmond, VA

Net people: +6,605
Net rank: #17 of 65
Top origin share: 2%
Top destination share: 1%

Largest source: Fairfax County, VA. Largest destination: Fairfax County, VA.

Rent delta: Richmond, VA is $411/mo lower for HUD FY2024 2-BR FMR than Baltimore, MD. Housing RPP moves from 120.5 to 98.2.

Migration figures are derived from IRS SOI county-to-county migration data for 2021-2022, mapped to metros via Census CBSA delineation. Small county-to-county flows are IRS-suppressed, so per-metro totals are lower bounds. Source: IRS SOI migration data.

Frequently asked questions

Is Richmond, VA cheaper or more expensive than Baltimore, MD?: Richmond, VA (RPP 97.7) is cheaper than Baltimore, MD (RPP 102.4) by about 4.6%.
What salary do I need in Richmond, VA if I earn $100,000 in Baltimore, MD?: You would need approximately $95,410 in Richmond, VA to maintain the same purchasing power as $100,000 in Baltimore, MD. Formula: $100,000 x (97.7 / 102.4).
Which metro had stronger net migration, Baltimore, MD or Richmond, VA?: For 2021-2022, Baltimore, MD had a net loss of 11,489 people, while Richmond, VA had a net gain of 6,605 people. IRS small-flow suppression means these are lower-bound research signals, not complete population-change totals.

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