Richmond vs St. Louis: cost of living compared
St. Louis is 7% cheaper than Richmond overall. State income tax tops out around 4.95% in MO 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 Richmond and St. Louis reveals a noticeable difference in overall cost of living. St. Louis generally presents a more affordable environment, primarily driven by significantly lower housing expenses. While some categories are quite similar between the two metros, the substantial gap in housing costs makes St. Louis the more budget-friendly option for many. Richmond, though still more affordable than the national average, is comparatively more expensive than St. Louis across several key spending areas.
Housing
Housing is where the most significant cost difference lies. Both buying a home and renting an apartment are considerably more affordable in St. Louis than in Richmond. St. Louis offers a much lower median home price and noticeably cheaper rental rates for single-bedroom units. While both metros feature a mix of historic and newer properties, the financial barrier to entry for homeownership or securing rental housing is substantially lower in the Missouri city.
Taxes and everyday costs
Daily expenses also show some variation. St. Louis benefits from a state income tax rate that is somewhat lower than Virginia's. When it comes to other necessities, food costs are noticeably cheaper in St. Louis, contributing to a more economical grocery bill. Transportation, healthcare, and utility costs are quite comparable between the two cities, with only minor differences, meaning daily commuting and essential services will feel roughly similar in price.
Lifestyle trade-offs
Beyond costs, a move between these cities brings lifestyle changes. Richmond enjoys a Mid-Atlantic climate with four distinct seasons, while St. Louis experiences a more continental climate, often with hotter summers and colder winters, and is more prone to severe weather events. Richmond has a more compact feel in its urban core, while St. Louis is known for its distinct neighborhoods spread across a larger area. Both offer varied urban and suburban experiences.
Bottom line
For households prioritizing cost savings, St. Louis offers a clear financial advantage, predominantly due to its much lower housing market. While other daily expenses like transportation and healthcare are broadly similar, the substantial difference in home prices and rents can lead to significant long-term savings. Richmond, while still offering good value compared to many larger cities, will generally require a larger portion of a household budget for living expenses, especially for housing.
| Measure | Richmond, VA | St. Louis, MO |
|---|---|---|
| Overall cost of living (US avg = 100) | 95 | 88 |
| Housing index | 90 | 64 |
| Transportation index | 93 | 95 |
| Food index | 95 | 92 |
| Healthcare index | 95 | 95 |
| Utilities index | 98 | 95 |
| Misc index | 88 | 88 |
| Median home price | $318,000 | $218,000 |
| Median 1-bedroom rent | $1,350/mo | $1,050/mo |
| Average commute | 26 min | 27 min |
Compare any two metros with the free cost of living tool, or see the true monthly cost of a specific St. Louis home with the True Cost Calculator.