Moving from Memphis to Richmond?
Here's what you'd need to earn to maintain your lifestyle.
To maintain your Memphis lifestyle in Richmond, you'd need to earn:
$79,621/year
▲ $4,621 more than you make now
| Category | Memphis | Richmond |
|---|---|---|
| Salary | $75,000 | $79,621 |
| Federal Income Tax | -$8,114 | -$9,131 |
| Social Security | -$4,650 | -$4,937 |
| Medicare | -$1,088 | -$1,155 |
| State Tax | -$0 | -$4,321 |
| Take-Home Pay | $61,149 | $60,079 |
Why the difference
- Cost of living is +6.2% in Richmond
- Housing is +24.2% in Richmond
- At the same $75,000 salary, you'd pay $4,055/year in taxes in Richmond
Estimated Moving Costs
Distance: ~721 miles
DIY Truck
$3,000
Container
$5,000
Full-Service
$7,000
Salary Equivalents: Memphis to Richmond
| Your Memphis Salary | Richmond Equivalent | Difference | Richmond Take-Home |
|---|---|---|---|
| $40,000 | $42,464 | +$2,464 | $33,974 |
| $50,000 | $53,080 | +$3,080 | $41,894 |
| $60,000 | $63,697 | +$3,697 | $49,792 |
| $75,000 | $79,621 | +$4,621 | $60,079 |
| $100,000 | $106,161 | +$6,161 | $77,224 |
| $150,000 | $159,241 | +$9,241 | $110,695 |
Single filer, 2025 tax brackets, standard deduction. Equivalents based on BEA Regional Price Parities.
How Memphis and Richmond Compare
Housing (24% more expensive in Richmond)
The average 1-bedroom apartment in Richmond rents for $1,430/month compared to $950/month in Memphis. Median home prices: $360,000 in Richmond vs $236,000 in Memphis.
Taxes
Tennessee has no state income tax. Virginia has a progressive state income tax from 2.0% to 5.8%. On a $75,000 salary, moving to Richmond would cost you about $4,055/year in taxes alone.
Overall Cost of Living
Richmond's overall cost of living is 6.2% higher than Memphis, based on the BEA Regional Price Parity index (where 100 = national average).Memphis: 92.2, Richmond: 97.9.
Plan Your Move
Get Free Moving Quotes
Compare rates from licensed movers for your Memphis to Richmond move. Average cost: $3,000–$7,000.
Compare Moving Quotes →Find Apartments in Richmond
Average 1BR rent in Richmond: $1,430/month. Browse available listings.
Search Apartments →High-Yield Savings
Park your moving fund in a 4.5%+ APY savings account while you plan your relocation.
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