Richmond, Virginia
Living in Richmond, Virginia is close to the national average, with a cost of living index of 102 (US = 100). Typical rent is $1,706 a month, 12% below the national figure of $1,932, and regular gas costs $4.03 a gallon versus $3.98 nationally as of November 11, 2026. Rent, gas, groceries, electricity and car insurance take about 51% of the area's $62,671 median household income.
Key Numbers
Gas (Regular)
$4.03
National: $3.98
Avg Rent (All)
$1,706
National: $1,932
Grocery Inflation
1.77%
Year-over-year
Fast Food Avg
$12.60
Combo meal
Electricity
17.64¢
per kWh · ~$159/mo
Car Insurance
$157/mo
$1,880/yr
Median Household Income
$62,671
51.3% goes to essentials
Car Insurance
Avg $1,880 in Richmond. Compare rates:
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Some prices above are regional estimates. Submit a receipt from a local store to help us show what Richmond residents actually pay.
Save on Gas
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Find Apartments
Avg rent $1,706/mo in Richmond. Browse listings:
Grocery Prices
Grocery Prices — 2000 to Present
National BLS averages · submit local prices below ↓
Eggs (dozen)
Bird flu volatility
$0.97 in 2000 → $2.32 BLS avg
Milk (gallon)
$2.79 in 2000 → $4.10 BLS avg
Ground Beef (lb)
$1.48 in 2000 → $6.75 BLS avg
Bread (loaf)
$0.91 in 2000 → $1.86 BLS avg
Chicken Breast (lb)
$1.06 in 2000 → $2.03 BLS avg
Butter (lb)
$3.98 BLS avg
Bacon (lb)
$2.75 in 2000 → $6.69 BLS avg
Cheddar Cheese (lb)
$3.84 in 2000 → $6.13 BLS avg
Pasta (lb)
$0.88 in 2000 → $1.38 BLS avg
Rice (5 lb)
$2.50 in 2000 → $5.50 BLS avg
Coffee (12 oz)
$2.65 in 2000 → $6.94 BLS avg
Orange Juice (64 oz)
Citrus shortage
$5.59 estimate
Potatoes (5 lb)
$1.96 in 2000 → $4.95 BLS avg
Apples (3 lb)
$5.31 estimate
Tomatoes (lb)
$1.44 in 2000 → $2.08 BLS avg
Lettuce (head)
$0.75 in 2000 → $1.96 BLS avg
Cooking Oil (48 oz)
$7.85 estimate
Yogurt (32 oz)
$5.05 estimate
Cereal (family size)
$6.58 estimate
Frozen Pizza
$8.32 estimate
| Item | 2000 | 2005 | 2010 | 2015 | 2020 | 2022 | 2026 | Since 2000 |
|---|---|---|---|---|---|---|---|---|
| Eggs (dozen)Bird flu volatility | $0.97 | $1.21 | $1.79 | $2.11 | $1.46 | $1.93 | $2.32 | +137.9% |
| Milk (gallon) | $2.79 | $3.30 | $3.24 | $3.76 | $3.25 | $3.79 | $4.10 | +47.3% |
| Ground Beef (lb) | $1.48 | $2.19 | $2.28 | $4.24 | $3.89 | $4.55 | $6.75 | +355.5% |
| Bread (loaf) | $0.91 | $1.00 | $1.36 | $1.48 | $1.35 | $1.55 | $1.86 | +105.2% |
| Chicken Breast (lb) | $1.06 | $1.03 | $1.26 | $1.55 | $1.41 | $1.62 | $2.03 | +91.3% |
| Butter (lb) | — | — | — | — | $3.86 | $3.67 | $3.98 | -4.2% since 2018 |
| Bacon (lb) | $2.75 | $3.37 | $3.63 | $5.59 | $5.50 | $7.22 | $6.69 | +143.1% |
| Cheddar Cheese (lb) | $3.84 | $4.21 | $4.72 | $5.40 | $5.20 | $5.32 | $6.13 | +59.6% |
| Pasta (lb) | $0.88 | $0.94 | $1.15 | $1.26 | $1.23 | $1.12 | $1.38 | +57.1% |
| Rice (5 lb) | $2.50 | $2.98 | $3.77 | $3.46 | $3.58 | $4.16 | $5.50 | +120.6% |
| Coffee (12 oz) | $2.65 | $2.29 | $2.86 | $3.55 | $3.13 | $3.85 | $6.94 | +161.3% |
| Orange Juice (64 oz)Citrus shortageLocal estimate | — | — | — | — | — | $3.83 | $5.59 | +46.0% since 2022 |
| Potatoes (5 lb) | $1.96 | $2.29 | $2.81 | $3.34 | $4.01 | $3.96 | $4.95 | +152.6% |
| Apples (3 lb)Local estimate | — | — | — | — | — | $4.45 | $5.31 | +19.3% since 2022 |
| Tomatoes (lb) | $1.44 | $1.66 | $1.84 | $2.09 | $2.22 | $1.89 | $2.08 | +44.4% |
| Lettuce (head) | $0.75 | $0.82 | $0.90 | $1.17 | $1.34 | — | $1.96 | +162.3% |
| Cooking Oil (48 oz)Local estimate | — | — | — | — | — | $5.71 | $7.85 | +37.5% since 2022 |
| Yogurt (32 oz)Local estimate | — | — | — | — | — | $4.15 | $5.05 | +21.7% since 2022 |
| Cereal (family size)Local estimate | — | — | — | — | — | $4.94 | $6.58 | +33.2% since 2022 |
| Frozen PizzaLocal estimate | — | — | — | — | — | $6.06 | $8.32 | +37.3% since 2022 |
Dining & Restaurants
Fast Food Meal
$12.60
Casual Dining
$26.01
Monthly Spend
$443.18
+4.22% YoYChain Restaurant Meal Prices — 2022 vs. Today
Combo meal / typical order for one
McDonald's
2022: $7.81
$12.60
+61.3%Wendy's
2022: $8.82
$13.61
+54.3%Chipotle
2022: $9.45
$14.11
+49.3%Starbucks
2022: $4.64
$6.45
+39.0%Eating out more? Save on groceries with Ibotta and cook at home more often.
Looking for an Apartment in Richmond?
Average 1BR: $1,399/mo · 2BR: $2,013/mo
Local Workforce
2024 · BLS QCEWTotal Jobs
166k
Median Weekly Pay
$1,604
$83k/yr
Top Sector
Professional & Business Services
Household vs Worker Pay
$63k
household median
Employment by Sector — Richmond
% of local workforce · avg weekly wage · 5-year growth trend
~$111k/yr
~$73k/yr
~$59k/yr
~$31k/yr
~$136k/yr
Source: BLS QCEW 2024 Annual · County FIPS 51760
Highest Paying Sector
Financial Activities
$2,617/wk · $136k/yr
Most Workers (lowest wage)
Leisure & Hospitality
$587/wk · $31k/yr
Richmond Cost of Living FAQ
Is Richmond, VA expensive to live in?
Richmond has a cost of living index of 102, where 100 is the US average, so it is close to average. It is the 2nd most affordable of the 10 Virginia cities we track.
What is the average rent in Richmond, VA?
Typical rent in Richmond is $1,706 a month for all home types as of September 2026, 12% below the national figure of $1,932. One bedroom units average about $1,399 and two bedrooms about $2,013. Source: Zillow Observed Rent Index for the metro area.
Is rent going up in Richmond?
Rent in Richmond rose 2.5% over the past year, about in line with the 2.7% change nationally.
How much is gas in Richmond?
Regular unleaded costs about $4.03 a gallon in Richmond as of November 11, 2026, based on the AAA average for Virginia. That is 1% above the national average of $3.98.
How much is electricity in Richmond?
Homes in Virginia pay an average of 17.6 cents per kWh (EIA), versus 18.4 cents nationally. At 900 kWh a month, a typical bill in Richmond is about $159.
How much is car insurance in Richmond?
Full coverage car insurance averages $1,880 a year in Virginia, or about $157 a month (Bankrate and NAIC state average), compared with $2,150 a year nationally.
How much do you need to live in Richmond?
Median household income in the Richmond area is $62,671 (Census ACS 2023, county level). Rent, gas, groceries, electricity and car insurance add up to about $32,179 a year, or 51% of that income. Groceries are counted at $5,502 a year, the average household spend on food at home in the region (BLS Consumer Expenditure Survey).
How does Richmond compare with the rest of Virginia?
Rent in Richmond is 6% above the $1,606 average across the 10 Virginia cities we track, and its cost of living index of 102 compares with a state average of 106.
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