City comparison
New York, NY vs Richmond, VA
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Prices in New York, NY are 15.0% higher than in Richmond, VA. Someone earning $100,000 in Richmond, VA would need about $115,000 in New York, NY to live the same way.
- Rent is the bigger story: a typical 1-bedroom costs $2,655 a month in New York, NY versus $1,507 in Richmond, VA. On $100,000, that's 43% of take-home pay in New York, NY and 24% in Richmond, VA.
- 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 −11.4% moving from New York, NY to Richmond, VA ($125,431 → $111,183), while prices change by −13.1%. Net effect of the transfer: +2.0% in real buying power.
- New York, NY: price level 112.6 (much 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
| New York, NY | Richmond, VA | |
|---|---|---|
| Price level (U.S. = 100)2 | 112.6 | 97.9 |
| $100,000 is worth, in the other city2 | $86,936 in Richmond | $115,027 in New York |
| Typical 1-bedroom rent3 | $2,655/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 | 43% | 24% |
| Median pay, all jobs4 | $61,430 | $51,460 |
| Federal locality pay area7 | New York-Newark, NY-NJ-CT-PA | Richmond, VA |
Rent areas: New York, NY HUD Metro FMR Area and Richmond, VA HUD Metro FMR Area. Metro areas: New York-Newark-Jersey City, NY-NJ and Richmond, VA.
What costs more or less
| Price level (U.S. = 100) | New York | Richmond |
|---|---|---|
| Housing (rent) | 148.6 | 99.1 |
| Goods | 110.3 | 96.8 |
| Utilities | 127.0 | 89.2 |
| Other services | 105.8 | 98.6 |
| Overall | 112.6 | 97.9 |
Moving with the same $100,000 salary
New York, NY → Richmond, VA
Same pay goes further
Buying power +15.0%; rent takes 24% of take-home; state tax +$76/yr.
100 Strong offer
Richmond, VA → New York, NY
Same pay buys less
Buying power −13.1%; rent takes 43% of take-home; state tax −$76/yr.
11 Weak offer
On the GS pay scale?
New York, NY is in the New York-Newark, NY-NJ-CT-PA pay area; Richmond, VA is in Richmond, VA. The last column shows what a transfer from New York, NY to Richmond, VA at the same grade and step does to real buying power.
| Grade5,2 | New York, NY | Richmond, VA | Real change, New York → Richmond |
|---|---|---|---|
| GS-9 step 1 | $72,737 | $64,475 | +2.0% |
| GS-11 step 1 | $88,005 | $78,009 | +2.0% |
| GS-12 step 1 | $105,481 | $93,499 | +2.0% |
| GS-13 step 1 | $125,431 | $111,183 | +2.0% |
| GS-14 step 1 | $148,222 | $131,385 | +2.0% |
Pay for common jobs
| Median annual pay4 | New York, NY | Richmond, VA | Richmond pay in New York dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $96,900 | $61,290 | $70,500 (−27.2%) |
| Software Developers | $166,830 | $132,120 | $151,974 (−8.9%) |
| Accountants and Auditors | $105,650 | $84,220 | $96,876 (−8.3%) |
| Registered Nurses | $119,720 | $93,580 | $107,642 (−10.1%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.