Is Richmond, VA cheaper than Norfolk, VA?

Based on cost of living data, Richmond, VA is 2.9% cheaper than Norfolk, VA. This translates to saving $218 per month.

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

If you earn $150,000 in Norfolk, VA, you'd need approximately $147,378.641 in Richmond, VA to maintain the same standard of living.

How does housing cost compare between Norfolk, VA and Richmond, VA?

Housing in Richmond, VA is 6.7% cheaper than in Norfolk, VA. For a two-bedroom apartment, rent is $1,710/month in Richmond, VA compared to $1,630/month in Norfolk, VA.

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

Moving from Norfolk, VA to Richmond, VA could save you approximately $218 per month, or $2621 per year, based on a $150,000 salary.

Norfolk, VA 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 Norfolk, VA

Numbers update automatically as you type

You'd save $218/month moving to Richmond, VA

$150.0K in your current city equals $147.4K in Richmond, VA

Rent data from HUD ZIP-level estimates · COL index from Virginia Beach-Norfolk-Newport News, VA-NC area

Overall Cost

↓ 2.9%

Less expensive

Monthly Impact

$218

Savings

Annual Impact

$2.6K

Per year

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

Norfolk, VA

Population:238K

Cost Index:

100

100 = national average

Median Home:$309K

Richmond, VA

Population:230K

Cost Index:

(3% below avg)

Median Home:$350K

Norfolk, VA

The Old Dominion State

238K

Population

State Tax

Yes

Located in Virginia, this city has a population of 238K residents.

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: Norfolk, VA vs Richmond, VA

Category	Norfolk, VA	Richmond, VA	Difference	Change
Housing	$2,729/mo	$2,547/mo	↓ $182less	6.7%
Groceries	$959/mo	$959/mo	→ $0	0.0%
Transportation	$1,284/mo	$1,284/mo	→ $0	0.0%
All Utilities	$574/mo	$574/mo	→ $0	0.0%
Healthcare	$632/mo	$632/mo	→ $0	0.0%
Other	$1,758/mo	$1,758/mo	→ $0	0.0%

Housing

↓ 6.7%

Norfolk, VA

$2,729

Richmond, VA

$2,547

Difference

$182

less

Groceries

→ 0.0%

Norfolk, VA

$959

Richmond, VA

$959

Difference

same

Transportation

→ 0.0%

Norfolk, VA

$1,284

Richmond, VA

$1,284

Difference

same

All Utilities

→ 0.0%

Norfolk, VA

$574

Richmond, VA

$574

Difference

same

Healthcare

→ 0.0%

Norfolk, VA

$632

Richmond, VA

$632

Difference

same

Other

→ 0.0%

Norfolk, VA

$1,758

Richmond, VA

$1,758

Difference

same

🏠Rent Comparison

Studio

From$1,420

To$1,490

↑ $70.00

1 Bed

From$1,440

To$1,560

↑ $120

2 Bed

From$1,630

To$1,710

↑ $80.00

3 Bed

From$2,260

To$2,140

↓ $120

Norfolk, VAZIP-level data

1BR range: $1,240–$1,760/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.

$7,935

Monthly in Norfolk, VA

$7,753

Monthly in Richmond, VA

$182

Difference

Home Values

Norfolk

Richmond

$309K

Median Value

$350K

↑ +0.2%

YoY Change

↑ +1.1%

↑ +28.5%

5-Year Change

↑ +39.2%

$249K - $469K

Price Range

$234K - $619K

Homes in Richmond are 13% more expensive than Norfolk

Calculate payment - Norfolk Calculate payment - Richmond

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

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

→ $0

Same taxes

Monthly Difference

Same take-home

Effective Rate Diff

0.0%

Rate difference

Norfolk, 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

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

Norfolk, VA Tax Rates

Sales Tax:5.7%

Property Tax:0.8%

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.