Side-by-side cost of living comparison for 2026
19% cheaper
Richmond is 19% more affordable than Miami. A $75,000 salary in Miami is equivalent to $60,827 in Richmond.
Index values shown. National average = 100. Lower is cheaper.
To maintain the same standard of living:
See exact take-home pay: Florida salaries · Virginia salaries
Housing is typically the biggest factor in any cost-of-living comparison. Miami has a housing index of 172 while Richmond sits at 108 (national average = 100). The median home in Miami costs $450,000 compared to $300,000 in Richmond, a difference of $150,000. Monthly rent follows a similar pattern: $2,200 in Miami versus $1,400 in Richmond.
Groceries and everyday expenses show a notable difference: Miami scores 108 while Richmond scores 100.
Healthcare costs in Miami (99) are lower than Richmond (100). Both are close to the national average.
Median household income in Miami is $44,268 compared to $50,120 in Richmond. When adjusted for cost of living, income goes further in Richmond.
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