Route comparison
Raleigh, NC vs Richmond, VA: Cost of Living
Compare the cost of living between Raleigh, NC and Richmond, VA. See the equivalent salary and median rent powered by BLS Regional Price Parities.
Raleigh, NC
NC
- Overall RPP (US=100)
- 98.4
- Housing RPP
- 104.5
- Goods RPP
- 95.8
- 2-BR median rent
- $1,646/mo
North Carolina flat income tax 4.5%.
Richmond, VA
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 Raleigh, NC by about 0.7% (RPP 98.4 to 97.7).
$60,000 in Raleigh, NC
-> $59,573
in Richmond, VA
$100,000 in Raleigh, NC
-> $99,289
in Richmond, VA
$150,000 in Raleigh, NC
-> $148,933
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: Raleigh, NC vs Richmond, VA
IRS tax-return migration · 2021-2022Raleigh, NC
- Net people
- +12,879
- Net rank
- #12 of 65
- Top origin share
- 7%
- Top destination share
- 7%
Largest source: Durham County, NC. Largest destination: Durham County, NC.
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 $114/mo lower for HUD FY2024 2-BR FMR than Raleigh, NC. Housing RPP moves from 104.5 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 Raleigh, NC?
- Richmond, VA (RPP 97.7) is cheaper than Raleigh, NC (RPP 98.4) by about 0.7%.
- What salary do I need in Richmond, VA if I earn $100,000 in Raleigh, NC?
- You would need approximately $99,289 in Richmond, VA to maintain the same purchasing power as $100,000 in Raleigh, NC. Formula: $100,000 x (97.7 / 98.4).
- Which metro had stronger net migration, Raleigh, NC or Richmond, VA?
- For 2021-2022, Raleigh, NC had a net gain of 12,879 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.