City comparison
Indianapolis, IN vs Richmond, VA
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Prices in Richmond, VA are 2.3% higher than in Indianapolis, IN. Someone earning $100,000 in Indianapolis, IN would need about $102,300 in Richmond, VA to live the same way.
- Rent is the bigger story: a typical 1-bedroom costs $1,507 a month in Richmond, VA versus $1,267 in Indianapolis, IN. On $100,000, that's 24% of take-home pay in Richmond, VA and 20% in Indianapolis, IN.
- On $100,000, estimated state income tax is about $2,015 a year higher in Richmond, VA than in Indianapolis, IN.
- For federal employees, locality pay changes a GS-13 step 1 salary by +3.5% moving from Indianapolis, IN to Richmond, VA ($107,428 → $111,183), while prices change by +2.3%. Net effect of the transfer: +1.2% in real buying power.
- Indianapolis, IN: price level 95.7 (cheaper)
- 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
| Indianapolis, IN | Richmond, VA | |
|---|---|---|
| Price level (U.S. = 100)2 | 95.7 | 97.9 |
| $100,000 is worth, in the other city2 | $102,259 in Richmond | $97,791 in Indianapolis |
| Typical 1-bedroom rent3 | $1,267/mo | $1,507/mo |
| Take-home on $100,00014,15,8 | $76,260 | $74,244 |
| State income tax on $100,000 (estimate)8 | $2,921 (IN) | $4,936 (VA) |
| Rent burden on $100,000 | 20% | 24% |
| Median pay, all jobs4 | $49,340 | $51,460 |
| Federal locality pay area7 | Indianapolis-Carmel-Muncie, IN | Richmond, VA |
Rent areas: Indianapolis-Carmel, IN HUD Metro FMR Area and Richmond, VA HUD Metro FMR Area. Metro areas: Indianapolis-Carmel-Greenwood, IN and Richmond, VA.
What costs more or less
| Price level (U.S. = 100) | Indianapolis | Richmond |
|---|---|---|
| Housing (rent) | 88.9 | 99.1 |
| Goods | 94.3 | 96.8 |
| Utilities | 86.4 | 89.2 |
| Other services | 99.1 | 98.6 |
| Overall | 95.7 | 97.9 |
Moving with the same $100,000 salary
Indianapolis, IN → Richmond, VA
Same pay buys less
Buying power −2.2%; rent takes 24% of take-home; state tax +$2,015/yr.
62 Fair offer
Richmond, VA → Indianapolis, IN
Same pay goes further
Buying power +2.3%; rent takes 20% of take-home; state tax −$2,015/yr.
76 Strong offer
On the GS pay scale?
Indianapolis, IN is in the Indianapolis-Carmel-Muncie, IN pay area; Richmond, VA is in Richmond, VA. The last column shows what a transfer from Indianapolis, IN to Richmond, VA at the same grade and step does to real buying power.
| Grade5,2 | Indianapolis, IN | Richmond, VA | Real change, Indianapolis → Richmond |
|---|---|---|---|
| GS-9 step 1 | $62,297 | $64,475 | +1.2% |
| GS-11 step 1 | $75,374 | $78,009 | +1.2% |
| GS-12 step 1 | $90,341 | $93,499 | +1.2% |
| GS-13 step 1 | $107,428 | $111,183 | +1.2% |
| GS-14 step 1 | $126,947 | $131,385 | +1.2% |
Pay for common jobs
| Median annual pay4 | Indianapolis, IN | Richmond, VA | Richmond pay in Indianapolis dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $60,510 | $61,290 | $59,936 (−0.9%) |
| Software Developers | $106,870 | $132,120 | $129,201 (+20.9%) |
| Accountants and Auditors | $79,290 | $84,220 | $82,359 (+3.9%) |
| Registered Nurses | $84,230 | $93,580 | $91,513 (+8.6%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.