If you’re wondering how much you need to live comfortably in Richmond, VA, and a family of four needs more than $120,000 a year. Richmond is a good alternative for people who want a good quality of life at a cheap cost of living because it is less expensive than many other major East Coast towns.
Why People Like Living in Richmond, VA
Richmond is a great place to live because it has a lot of history, is cheap, and is close to the city. The city still draws young professionals and families because it has strong employment markets in healthcare, education, and tech, as well as a robust arts scene.
Richmond’s Cost of Living Breakdown (2025)
1. Places to live
Housing costs in Richmond are around 10–15% lower than the national average.
- The average rent for a one-bedroom apartment is $1,300 to $1,600 a month.
- The average price of a property is between $340,000 and $380,000.
Chesterfield and Mechanicsville are two affordable communities that are perfect for homebuyers.
2. Transportation and Utilities
The average monthly cost of utilities is between $180 and $220, while gas costs are still reasonable. There aren’t many public transportation options, therefore most people own a car and spend roughly $300–$400 a month on gas.
3. Food and groceries
For one individual, groceries cost about $350 to $450 a month. Eating out twice a week adds another $150. Families should plan to spend between $800 to $1,000 a month.
4. Health care and insurance
Depending on your plan and the size of your family, you should expect on paying $400 to $600 a month for health insurance and other costs.
5. Lifestyle and Entertainment
There are many cheap things to do in Richmond, such as parks, local breweries, and the James River. A comfortable lifestyle includes some fun things to do and a budget of $300 to $500 each month.
How much money do you need to be comfortable in Richmond, VA?
- For singles, $70,000 a year is enough to live comfortably and save money.
- Couples with a combined salary of $100,000 to $110,000 can be stable.
- Families: $120,000 to $140,000 lets you live comfortably and save a little.
You may live comfortably in Richmond without having to spend six figures, especially if you know how to control your housing costs.
How to Live Well in Richmond
- Pick suburbs that are cheap, such Chesterfield, Bon Air, or Henrico.
- Live near employment hubs to avoid long commutes.
- Keep track of your spending and go to Richmond’s free activities.
- Think about buying a home for long-term financial stability.
Last Thoughts
How much money do you need to live well in Richmond, VA? A income of $70,000 to $85,000 in 2025 will give singles a good balance in their lives, while families will require at least $120,000 to feel safe and comfortable. Richmond is one of Virginia’s most livable cities for people who want value without giving up comfort.
Get in touch with me
Are you thinking about moving to Richmond, VA? I can help you find houses and locations that fit your lifestyle and budget at a price you can afford.
- Call: +17788520679
- Email: support@myhavens.us
- Go to: 1603 Capitol Ave, Cheyenne, WY 82001
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