Richmond wins overall by ~8% (COL index)
Cost of living: Richmond vs Chicago (2026)
A $63,500 salary in Richmond buys roughly what $69,332 does in Chicago (COL-adjusted). Your real trade-offs are taxes, rent, and day-to-day prices — we break them down and personalize below.
Your move simulator
Tell us about your household — we calculate your real annual savings.
Estimated annual swing
+$4,121/yr
Favoring Richmond for this income & household (illustrative).
With the extra $343/mo, you could pay down a $15,000 card balance in ~44 months and still keep ~$41/mo for dining out.
Studio rent/mo
1BR rent/mo
2BR rent/mo
Median home price
Groceries index (100 = US avg)
Budget meal (1 person)
Mid-range dinner (2)
Monthly transit pass/mo
Gas price/gal
Car insurance/mo
Monthly utilities bundle/mo
Internet/mo
Median household income/yr
State income tax%
Sales tax (combined)%
Movie ticket
Gym membership/mo
Beer at restaurant
Overall COL index (100 = US avg)
Walk score / 100
| Category | Richmond Virginia | Chicago Illinois | Who wins | Your impact at $64K · 1br · 1 car |
|---|---|---|---|---|
| 🏠 HousingQ1 2026 | ||||
| Studio rent/mo | $1,300Wins | $1,500 | Richmond wins +$200/mo | $2,400/yr saves in Richmond |
| 1BR rent/mo | $1,600Wins | $1,900 | Richmond wins +$300/mo | $3,600/yr saves in Richmond |
| 2BR rent/mo | $2,000Wins | $2,600 | Richmond wins +$600/mo | $7,200/yr saves in Richmond |
| Median home price | $330KBetter | $360K | Richmond wins +$30K | — |
| 🛒 Food & GroceriesQ1 2026 | ||||
| Groceries index (100 = US avg) | 97Better | 102 | Richmond wins +5 | — |
| Budget meal (1 person) | $14Better | $15 | Richmond wins +$1/mo | — |
| Mid-range dinner (2) | $55Better | $60 | Richmond wins +$5/mo | — |
| 🚌 TransportationQ1 2026 | ||||
| Monthly transit pass/mo | $70Wins | $105 | Richmond wins +$35/mo | $420/yr saves in Richmond |
| Gas price/gal | $3.10Better | $3.40 | Richmond wins +$0.30 | — |
| Car insurance/mo | $145Wins | $165 | Richmond wins +$20/mo | $240/yr saves in Richmond |
| ⚡ UtilitiesQ1 2026 | ||||
| Monthly utilities bundle/mo | $155Better | $165 | Richmond wins +$10/mo | — |
| Internet/mo | $60Better | $65 | Richmond wins +$5/mo | — |
| 💰 Income & TaxesQ1 2026 | ||||
| Median household income/yr | $60K | $67KBetter | Chicago wins +$7K more/yr | — |
| State income tax% | 5.8% | 4.9%Wins | Chicago wins -0.9 pp | $571/yr saves in Chicago |
| Sales tax (combined)% | 6.0%Wins | 10.3% | Richmond wins +4.3 pp | — |
| 🎬 LeisureQ1 2026 | ||||
| Movie ticket | $15.00Better | $16.00 | Richmond wins +$1.00 | — |
| Gym membership/mo | $38Wins | $45 | Richmond wins +$7/mo | — |
| Beer at restaurant | $6.00Wins | $7.00 | Richmond wins +$1.00 | — |
| 📊 OverviewQ1 2026 | ||||
| Overall COL index (100 = US avg) | 98Better | 107 | Richmond wins +9 | — |
| Walk score / 100 | 53 | 78Wins | Chicago wins +25 more/yr | — |
Complete the Picture
While you’re comparing — don’t leave money on the table.
Tax-smart rewards
Maximize everyday spend in your new city
Richmond fits your move math — cash-back cards stack on groceries, gas, and dining you're already doing.
Home + auto bundle
New state — new insurance rates
Bundling often saves hundreds/yr. Compare before you sign a lease in Richmond.
High-yield savings
Park ~$3,600/yr rent savings at 4–5%+ APY
Don't let relocation cash sit at 0% — put it to work until closing day.
More ways to compare this move
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Open the full interactive tool to add up to 5 cities, drop in your salary, and see rent burden.
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While you’re comparing — don’t leave money on the table.
If cash is tight
Knock down high-interest debt first
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Invest the surplus on autopilot
Brokerages and robo-advisors help you dollar-cost average into the market with your new slack.
Frequently asked questions
Is Richmond cheaper than Chicago?
Yes. Richmond is 8% cheaper than Chicago based on overall cost of living indices (98 vs 107, where 100 = US average).
What is the average rent in Richmond vs Chicago?
As of Q1 2026, the median 1-bedroom rent in Richmond is $1,600/month and in Chicago is $1,900/month. Richmond is cheaper by 16%.
How much do I need to earn in Chicago to match a $75,000 salary in Richmond?
To maintain a similar lifestyle, you would need approximately $81,888/year in Chicago to match a $75,000 salary in Richmond. This estimate is based on overall cost of living indices and does not account for individual spending patterns.
Which city has lower taxes — Richmond or Chicago?
Chicago has the lower state income tax rate at 4.9% vs 5.8%. The difference is 0.9 percentage points. Note that sales tax and local taxes also vary — see the full breakdown in the table above.
Is it worth moving from Richmond to Chicago?
It depends on your priorities. Richmond offers lower overall costs, but both cities have different job markets, weather, and lifestyle trade-offs. Use the comparison table above to evaluate rent, groceries, transportation, and income potential side by side based on your specific budget.
Data sourced from Zillow, BLS, Numbeo, Tax Foundation, and US Census ACS · Updated Q1 2026 · For general guidance only
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