City comparison
Albany, NY vs Richmond, VA
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Prices in Albany, NY are 1.7% higher than in Richmond, VA. Someone earning $100,000 in Richmond, VA would need about $101,700 in Albany, NY to live the same way.
- Rent differs too: a typical 1-bedroom costs $1,507 a month in Richmond, VA versus $1,417 in Albany, NY. On $100,000, that's 24% of take-home pay in Richmond, VA and 23% in Albany, NY.
- Estimated state income tax on $100,000 is close: $4,860 a year in NY and $4,936 in VA.
- For federal employees, locality pay changes a GS-13 step 1 salary by +1.3% moving from Albany, NY to Richmond, VA ($109,810 → $111,183), while prices change by −1.7%. Net effect of the transfer: +3.0% in real buying power.
- Albany, NY: price level 99.6 (about average)
- Richmond, VA: price level 97.9 (cheaper)
Map drawn from Census Bureau state boundaries and metro locations9,10; dot colours show BEA price levels2.
Side by side
| Albany, NY | Richmond, VA | |
|---|---|---|
| Price level (U.S. = 100)2 | 99.6 | 97.9 |
| $100,000 is worth, in the other city2 | $98,285 in Richmond | $101,745 in Albany |
| Typical 1-bedroom rent3 | $1,417/mo | $1,507/mo |
| Take-home on $100,00014,15,8 | $74,320 | $74,244 |
| State income tax on $100,000 (estimate)8 | $4,860 (NY) | $4,936 (VA) |
| Rent burden on $100,000 | 23% | 24% |
| Median pay, all jobs4 | $58,460 | $51,460 |
| Federal locality pay area7 | Albany-Schenectady, NY-MA | Richmond, VA |
Rent areas: Albany-Schenectady-Troy, NY MSA and Richmond, VA HUD Metro FMR Area. Metro areas: Albany-Schenectady-Troy, NY and Richmond, VA.
What costs more or less
| Price level (U.S. = 100) | Albany | Richmond |
|---|---|---|
| Housing (rent) | 102.6 | 99.1 |
| Goods | 99.7 | 96.8 |
| Utilities | 134.0 | 89.2 |
| Other services | 97.8 | 98.6 |
| Overall | 99.6 | 97.9 |
Moving with the same $100,000 salary
Albany, NY → Richmond, VA
Roughly even
Buying power +1.7%; rent takes 24% of take-home; state tax +$76/yr.
74 Strong offer
Richmond, VA → Albany, NY
Roughly even
Buying power −1.7%; rent takes 23% of take-home; state tax −$76/yr.
63 Fair offer
On the GS pay scale?
Albany, NY is in the Albany-Schenectady, NY-MA pay area; Richmond, VA is in Richmond, VA. The last column shows what a transfer from Albany, NY to Richmond, VA at the same grade and step does to real buying power.
| Grade5,2 | Albany, NY | Richmond, VA | Real change, Albany → Richmond |
|---|---|---|---|
| GS-9 step 1 | $63,678 | $64,475 | +3.0% |
| GS-11 step 1 | $77,045 | $78,009 | +3.0% |
| GS-12 step 1 | $92,344 | $93,499 | +3.0% |
| GS-13 step 1 | $109,810 | $111,183 | +3.0% |
| GS-14 step 1 | $129,763 | $131,385 | +3.0% |
Pay for common jobs
| Median annual pay4 | Albany, NY | Richmond, VA | Richmond pay in Albany dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $79,240 | $61,290 | $62,360 (−21.3%) |
| Software Developers | $127,910 | $132,120 | $134,426 (+5.1%) |
| Accountants and Auditors | $84,660 | $84,220 | $85,690 (+1.2%) |
| Registered Nurses | $99,970 | $93,580 | $95,213 (−4.8%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.