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:
$87,132/year
▲ $12,132 more than you make now
| Category | Memphis | Richmond |
|---|---|---|
| Salary | $75,000 | $87,132 |
| Federal Income Tax | -$8,114 | -$10,783 |
| Social Security | -$4,650 | -$5,402 |
| Medicare | -$1,088 | -$1,263 |
| State Tax | -$0 | -$4,753 |
| Take-Home Pay | $61,149 | $64,931 |
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 | $45,561 | +$5,561 | $36,285 |
| $50,000 | $56,985 | +$6,985 | $44,807 |
| $60,000 | $69,187 | +$9,187 | $53,338 |
| $75,000 | $87,132 | +$12,132 | $64,931 |
| $100,000 | $116,022 | +$16,022 | $83,594 |
| $150,000 | $174,521 | +$24,521 | $120,261 |
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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