Moving from Minneapolis to Richmond?
Here's what you'd need to earn to maintain your lifestyle.
To maintain your Minneapolis lifestyle in Richmond, you'd need to earn:
$68,290/year
▼ $6,710 less than you make now
| Category | Minneapolis | Richmond |
|---|---|---|
| Salary | $75,000 | $68,290 |
| Federal Income Tax | -$8,114 | -$6,638 |
| Social Security | -$4,650 | -$4,234 |
| Medicare | -$1,088 | -$990 |
| State Tax | -$4,628 | -$3,669 |
| Take-Home Pay | $56,521 | $52,759 |
Why the difference
- Cost of living is -6.6% in Richmond
- Housing is -11.4% in Richmond
- At the same $75,000 salary, you'd save $573/year in taxes in Richmond
Estimated Moving Costs
Distance: ~967 miles
DIY Truck
$3,000
Container
$5,000
Full-Service
$7,000
Salary Equivalents: Minneapolis to Richmond
| Your Minneapolis Salary | Richmond Equivalent | Difference | Richmond Take-Home |
|---|---|---|---|
| $40,000 | $36,887 | -$3,113 | $29,814 |
| $50,000 | $46,100 | -$3,900 | $36,687 |
| $60,000 | $55,311 | -$4,689 | $43,558 |
| $75,000 | $68,290 | -$6,710 | $52,759 |
| $100,000 | $91,259 | -$8,741 | $67,597 |
| $150,000 | $136,180 | -$13,820 | $96,259 |
Single filer, 2025 tax brackets, standard deduction. Equivalents based on BEA Regional Price Parities.
How Minneapolis and Richmond Compare
Housing (11% cheaper in Richmond)
The average 1-bedroom apartment in Richmond rents for $1,430/month compared to $1,330/month in Minneapolis. Median home prices: $360,000 in Richmond vs $327,000 in Minneapolis.
Taxes
Minnesota has a progressive state income tax from 5.3% to 9.8%. Virginia has a progressive state income tax from 2.0% to 5.8%. On a $75,000 salary, moving to Richmond would save you about $573/year in taxes alone.
Overall Cost of Living
Richmond's overall cost of living is 6.6% lower than Minneapolis, based on the BEA Regional Price Parity index (where 100 = national average).Minneapolis: 104.8, Richmond: 97.9.
Plan Your Move
Get Free Moving Quotes
Compare rates from licensed movers for your Minneapolis 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.
Compare Savings Rates →