Cleveland vs Richmond: cost of living compared
Richmond is 16% more expensive than Cleveland overall. State income tax tops out around 3.5% in OH vs 5.75% in VA.
Indexes use a US average of 100: below 100 is cheaper than the national average. Housing and transportation are derived from median home prices, rents and commute times; figures come from BLS, Census ACS, Numbeo and the MIT Living Wage Calculator.
The big picture
Comparing the overall cost of living, Cleveland is noticeably more affordable than Richmond. This difference is primarily driven by housing expenses, which are substantially lower in the Ohio metro. While other categories like food and healthcare also show Cleveland as more budget-friendly, the significant disparity in housing costs is the main factor contributing to the overall financial advantage.
Housing
Housing costs present the most significant difference between these two metros. Both buying a home and renting an apartment are considerably more expensive in Richmond than in Cleveland. The median home price in Cleveland is much lower, as is the typical monthly rent for a one-bedroom unit. This suggests a much larger initial investment and ongoing housing expense in Richmond.
Taxes and everyday costs
When it comes to daily expenses, Cleveland generally offers a more economical experience. Food and healthcare costs are somewhat lower in Cleveland, while utility expenses are roughly similar in both metros. However, a notable difference is state income tax, which is higher in Virginia, impacting take-home pay for Richmond residents. Transportation costs are quite comparable for both locations.
Lifestyle trade-offs
Beyond costs, movers will find differences in climate and urban character. Cleveland experiences a four-season climate with colder winters and lake effect snow, while Richmond has a milder, more humid climate. Both metros offer a mix of urban and suburban environments. Getting around by car is common in both, with similar average commute times, though public transit options vary.
Bottom line
For those prioritizing a lower cost of living, Cleveland presents a clear financial advantage, primarily due to its substantially more affordable housing market. While daily expenses like food and healthcare are also somewhat lower, and state income tax is less, the significant savings on housing in Cleveland would likely lead to a much more favorable household budget compared to Richmond.
| Measure | Cleveland, OH | Richmond, VA |
|---|---|---|
| Overall cost of living (US avg = 100) | 82 | 95 |
| Housing index | 57 | 90 |
| Transportation index | 91 | 93 |
| Food index | 90 | 95 |
| Healthcare index | 92 | 95 |
| Utilities index | 98 | 98 |
| Misc index | 82 | 88 |
| Median home price | $188,000 | $318,000 |
| Median 1-bedroom rent | $950/mo | $1,350/mo |
| Average commute | 26 min | 26 min |
Compare any two metros with the free cost of living tool, or see the true monthly cost of a specific Richmond home with the True Cost Calculator.