$40K in Austin = $32,131 in Richmond
Your $40K salary in Austin (COL 122) has the same purchasing power as $32,131 in Richmond (COL 98). Richmond is cheaper — your money goes 20% further there.
Budget breakdown — $40K in both cities
What $40K actually buys you in each city after taxes and core expenses.
| Expense | Austin $40K | Richmond $40K (same salary) |
|---|---|---|
| Monthly take-home | $2,728 | $2,535 |
| 1BR rent | $1,800 | $1,600 |
| Groceries | $372 | $369 |
| Transport | $50 | $70 |
| Utilities | $170 | $155 |
| Internet | $65 | $60 |
| Left after essentials | $271/month | $281/month |
Frequently asked questions
What is $40K in Austin equivalent to in Richmond?
$40K in Austin (COL index 122) has the same purchasing power as $32,131 in Richmond (COL index 98). That's 20% less than your current salary.
If I move from Austin to Richmond keeping my $40K salary, will I be better off?
Yes. If you keep earning $40K after moving to Richmond, you'd have $10 more per month after core expenses — because Richmond is cheaper than Austin.
How is the salary equivalent calculated?
The equivalent salary is calculated by multiplying your current salary by the ratio of the two cities' overall cost of living indices: $40K × (98 ÷ 122) = $32,131. This adjusts for differences in housing, food, transport, and general cost of living.
Other salary amounts — Austin to Richmond
Equivalency uses overall COL index ratio. Take-home uses simplified federal/state brackets. Zillow · BLS · Numbeo · Q1 2026 · For general guidance only