Cost of Living: Richmond, VA vs Chicago, IL
Quick rent-and-take-home comparison
Using a baseline of $70,000/yr gross, take-home is about $4,181/mo in Richmond, VA versus $4,227/mo in Chicago, IL. In the model, rent is about 19.15% of gross in Richmond, VA versus 20.28% in Chicago, IL, so Richmond, VA tends to feel more affordable for rent.
Compare cost of living, rent, housing prices, and salary affordability between Richmond, VA and Chicago, IL.
At a glance
- Cheaper overall (lower cost-of-living index): Richmond, VA
- Lower rent (median 1BR/2BR): Richmond, VA
- Lower home prices: Chicago, IL
- Higher median household income: Richmond, VA
Cost of Living Index
Richmond, VA: 93.8 (U.S. = 100) · Chicago, IL: 98.3 (U.S. = 100)
Richmond, VA has a lower cost-of-living index than Chicago, IL, so a given salary generally stretches further there.
Median Rent
Richmond, VA: $1,249/mo (midpoint of 1BR/2BR) · Chicago, IL: $1,323/mo
Median rent in Chicago, IL is $74/mo higher than in Richmond, VA.
Median Home Price
Richmond, VA: $328,100 · Chicago, IL: $147,800
Median home price in Richmond, VA is $180,300 higher than in Chicago, IL.
Median Household Income
Richmond, VA: $62,671 · Chicago, IL: $56,815
Richmond, VA has a higher median household income than Chicago, IL by $5,856.
Richmond, VA overview · Chicago, IL overview · Popular comparisons