Vcu, Virginia Cost Of Living

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F

Overall 13%

Goods & Services 4%

Housing 48%

Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Vcu	Richmond	Virginia
Cost of living	113	100	107
Goods & Services	104	104	99
Groceries	90	90	96
Health care	102	102	97
Housing	148	104	130
Transportation	87	87	90
Utilities	100	100	100

Key findings

The cost of living in Vcu is 6% higher than the Richmond average
The cost of living in Vcu is 13% higher than the national average
Vcu housing is 48% higher than the national average
Virginia general sales tax is 4% higher than the national average
Virginia state income tax is 19% lower than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Household	$15,898	$1,325	$371	$477

Virginia Sales Tax

State	General Sales Tax	With Max Surtax
Virginia	5.3%	6%

Virginia Income Tax

State	Income Tax (Low)	Income Tax (High)
Virginia	2%	5.75%

Goods & Services

Item	Richmond	National avg.	Difference
Haircut	$19.83	$17.49	13.4%
Beauty Salon	$46.00	$38.17	20.5%
Toothpaste	$1.89	$2.32	18.6%
Shampoo	$0.96	$1.01	5.1%
Movie	$11.59	$10.72	8.1%
Bowling	$17.25	$13.86	24.4%

Groceries

Item	Richmond	National avg.	Difference
Ground Beef	$3.39	$3.90	13.1%
Fried Chicken	$1.05	$1.40	24.8%
Milk	$1.54	$1.96	21.5%
Potatoes	$3.35	$3.18	5.2%
Pizza	$10.18	$10.39	2.1%
Beer	$9.93	$9.23	7.6%

Health Care

Item	Richmond	National avg.	Difference
Optometrist	$119.10	$106.34	12.0%
Doctor	$134.64	$115.25	16.8%
Dentist	$94.15	$98.38	4.3%
Ibuprofen	$9.06	$9.26	2.2%
Lipitor	$431.49	$466.47	7.5%

Housing

Item	Richmond	National avg.	Difference
Home Price	$199,300.00	$184,700.00	7.9%
Avg. Mortgage Payment	$1,049.64	$1,273.32	17.6%
Apartment Rent	$916.00	$949.00	3.5%

Transportation

Item	Richmond	National avg.	Difference
Gasoline	$2.34	$2.59	9.8%
Tire Balancing	$41.46	$48.90	15.2%

Utilities

Item	Richmond	National avg.	Difference
All Electricity	$173.34	$167.60	3.4%
Phone	$175.14	$163.42	7.2%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, State	Population	Cost of Living Index	National Avg.
Montrose, VA	7,909	91	-9%
Bensley, VA	6,031	91	-9%
Bellwood, VA	6,082	92	-8%
Sandston, VA	6,883	93	-7%
Highland Springs, VA	16,276	93	-7%
Richmond, VA	216,773	100	0%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Boise, ID	218,677	100	0%
San Bernardino, CA	214,581	107	7%
Des Moines, IA	212,859	87	-13%
Birmingham, AL	212,424	81	-19%
Spokane, WA	212,078	96	-4%
Richmond, VA	216,773	100	0%

Source: The Vcu, Richmond, VA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.

Vcu, Richmond, VA Cost of Living

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