Is Richmond, VA cheaper than Knoxville, TN?

Based on cost of living data, Richmond, VA is 5.7% more expensive than Knoxville, TN. This translates to spending an extra $431 per month.

What salary do I need in Richmond, VA to live like I do in Knoxville, TN?

If you earn $150,000 in Knoxville, TN, you'd need approximately $155,170.446 in Richmond, VA to maintain the same standard of living.

How does housing cost compare between Knoxville, TN and Richmond, VA?

Housing in Richmond, VA is 7.1% more expensive than in Knoxville, TN. For a two-bedroom apartment, rent is $1,710/month in Richmond, VA compared to $1,495/month in Knoxville, TN.

How much can I save per month by moving from Knoxville, TN to Richmond, VA?

Living in Richmond, VA costs approximately $431 more per month than Knoxville, TN, or $5170 more per year, based on a $150,000 salary.

Knoxville, TN vs Richmond, VA: Cost of Living Comparison 2026

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Cost of Living Comparison 2026

Data: HUD rent estimates, BLS cost of living

Current salary in Knoxville, TN

Numbers update automatically as you type

You'd spend $431/month more in Richmond, VA

$150.0K in your current city equals $155.2K in Richmond, VA

Rent data from HUD ZIP-level estimates · COL index from Knoxville, TN area

Overall Cost

↑ 5.7%

More expensive

Monthly Impact

$431

Extra cost

Annual Impact

$5.2K

Per year

Based on monthly living costs (rent, groceries, utilities, transport, healthcare). Home purchase prices shown separately below.

Knoxville, TN

Population:198K

Cost Index:

100

100 = national average

Median Home:$369K

Richmond, VA

Population:230K

Cost Index:

106

(6% above avg)

Median Home:$350K

Knoxville, TN

The Volunteer State

198K

Population

State Tax

No Income Tax

Located in Tennessee, this city has a population of 198K residents.

💡 Advantage: Tennessee has no state income tax!

Richmond, VA

The Old Dominion State

230K

Population

State Tax

Yes

Located in Virginia, this city has a population of 230K residents.

Cost Breakdown by Category

Annual spending: Knoxville, TN vs Richmond, VA

Category	Knoxville, TN	Richmond, VA	Difference	Change
Housing	$2,378/mo	$2,547/mo	↑ $168more	7.1%
All Utilities	$468/mo	$574/mo	↑ $105more	22.5%
Other	$1,668/mo	$1,758/mo	↑ $89.54more	5.4%
Healthcare	$556/mo	$632/mo	↑ $75.92more	13.7%
Transportation	$1,236/mo	$1,284/mo	↑ $47.81more	3.9%
Groceries	$967/mo	$959/mo	↓ $8.05less	0.8%

Housing

↑ 7.1%

Knoxville, TN

$2,378

Richmond, VA

$2,547

Difference

$168

All Utilities

↑ 22.5%

Knoxville, TN

$468

Richmond, VA

$574

Difference

$105

Other

↑ 5.4%

Knoxville, TN

$1,668

Richmond, VA

$1,758

Difference

$89.54

Healthcare

↑ 13.7%

Knoxville, TN

$556

Richmond, VA

$632

Difference

$75.92

Transportation

↑ 3.9%

Knoxville, TN

$1,236

Richmond, VA

$1,284

Difference

$47.81

Groceries

↓ 0.8%

Knoxville, TN

$967

Richmond, VA

$959

Difference

$8.05

less

🏠Rent Comparison

Studio

From$1,200

To$1,490

↑ $290

1 Bed

From$1,200

To$1,560

↑ $360

2 Bed

From$1,495

To$1,710

↑ $215

3 Bed

From$1,891

To$2,140

↑ $249

Knoxville, TNZIP-level data

1BR range: $980–$1,480/mo

Richmond, VAZIP-level data

1BR range: $1,400–$1,920/mo

💡 Note: Rent prices are based on HUD Fair Market Rent data and represent median costs. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$7,274

Monthly in Knoxville, TN

$7,753

Monthly in Richmond, VA

$479

Difference

Home Values

Knoxville

Richmond

$369K

Median Value

$350K

↑ +0.7%

YoY Change

↑ +1.1%

↑ +64.1%

5-Year Change

↑ +39.2%

$196K - $638K

Price Range

$234K - $619K

Homes in Richmond are 5% less expensive than Knoxville

Calculate payment - Knoxville Calculate payment - Richmond

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↓ $8.4K

More taxes

Monthly Difference

$697

Less take-home

Effective Rate Diff

5.6%

Rate difference

Knoxville, TN

Federal Income Tax

Effective: 18.9%

$25.5K

Tennessee State Tax

No state income tax

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 24.7%

$37.0K

Take-Home Pay

$9,416/month

$113.0K

Richmond, VA

Federal Income Tax

Effective: 18.9%

$25.5K

Virginia State Tax

Effective: 5.6%

$8.4K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 30.3%

$45.4K

Take-Home Pay

$8,718/month

$104.6K

Additional Tax Information

Knoxville, TN Tax Rates

Sales Tax:9.5%

Property Tax:0.7%

Richmond, VA Tax Rates

Sales Tax:5.7%

Property Tax:0.8%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.