City comparison
Minneapolis, MN vs Richmond, VA
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Prices in Minneapolis, MN are 7.1% higher than in Richmond, VA. Someone earning $100,000 in Richmond, VA would need about $107,100 in Minneapolis, MN to live the same way.
- Rent differs too: a typical 1-bedroom costs $1,507 a month in Richmond, VA versus $1,405 in Minneapolis, MN. On $100,000, that's 24% of take-home pay in Richmond, VA and 23% in Minneapolis, MN.
- On $100,000, estimated state income tax is about $341 a year higher in Minneapolis, MN than in Richmond, VA.
- For federal employees, locality pay changes a GS-13 step 1 salary by −4.2% moving from Minneapolis, MN to Richmond, VA ($116,038 → $111,183), while prices change by −6.6%. Net effect of the transfer: +2.6% in real buying power.
- Minneapolis, MN: price level 104.8 (pricier)
- 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
| Minneapolis, MN | Richmond, VA | |
|---|---|---|
| Price level (U.S. = 100)2 | 104.8 | 97.9 |
| $100,000 is worth, in the other city2 | $93,356 in Richmond | $107,116 in Minneapolis |
| Typical 1-bedroom rent3 | $1,405/mo | $1,507/mo |
| Take-home on $100,00014,15,8 | $73,903 | $74,244 |
| State income tax on $100,000 (estimate)8 | $5,277 (MN) | $4,936 (VA) |
| Rent burden on $100,000 | 23% | 24% |
| Median pay, all jobs4 | $59,320 | $51,460 |
| Federal locality pay area7 | Minneapolis-St. Paul, MN-WI | Richmond, VA |
Rent areas: Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area and Richmond, VA HUD Metro FMR Area. Metro areas: Minneapolis-St. Paul-Bloomington, MN-WI and Richmond, VA.
What costs more or less
| Price level (U.S. = 100) | Minneapolis | Richmond |
|---|---|---|
| Housing (rent) | 111.8 | 99.1 |
| Goods | 103.1 | 96.8 |
| Utilities | 93.5 | 89.2 |
| Other services | 104.4 | 98.6 |
| Overall | 104.8 | 97.9 |
Moving with the same $100,000 salary
Minneapolis, MN → Richmond, VA
Same pay goes further
Buying power +7.1%; rent takes 24% of take-home; state tax −$341/yr.
91 Strong offer
Richmond, VA → Minneapolis, MN
Same pay buys less
Buying power −6.6%; rent takes 23% of take-home; state tax +$341/yr.
48 Fair offer
On the GS pay scale?
Minneapolis, MN is in the Minneapolis-St. Paul, MN-WI pay area; Richmond, VA is in Richmond, VA. The last column shows what a transfer from Minneapolis, MN to Richmond, VA at the same grade and step does to real buying power.
| Grade5,2 | Minneapolis, MN | Richmond, VA | Real change, Minneapolis → Richmond |
|---|---|---|---|
| GS-9 step 1 | $67,290 | $64,475 | +2.6% |
| GS-11 step 1 | $81,415 | $78,009 | +2.6% |
| GS-12 step 1 | $97,582 | $93,499 | +2.6% |
| GS-13 step 1 | $116,038 | $111,183 | +2.6% |
| GS-14 step 1 | $137,123 | $131,385 | +2.6% |
Pay for common jobs
| Median annual pay4 | Minneapolis, MN | Richmond, VA | Richmond pay in Minneapolis dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $79,730 | $61,290 | $65,652 (−17.7%) |
| Software Developers | $130,920 | $132,120 | $141,522 (+8.1%) |
| Accountants and Auditors | $86,500 | $84,220 | $90,213 (+4.3%) |
| Registered Nurses | $103,040 | $93,580 | $100,240 (−2.7%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.