Quick answer
Overall prices in the Detroit, MI metro were 100.3 vs 97.9 in Richmond, VA in 2024 (US = 100), so Detroit is 2.5% more expensive than Richmond; housing rents differ by 4% (94.7 vs 99.1). A $75,000 income in Detroit buys about what $73,175 buys in Richmond, per BEA.
Data as of 2024. Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024
| Price index (US = 100) | Detroit | Richmond | Detroit vs Richmond |
|---|---|---|---|
| All items | 100.3 | 97.9 | +2.5% |
| Goods | 98.8 | 96.8 | +2.1% |
| Housing (rents) | 94.7 | 99.1 | -4.5% |
| Utilities | 107.0 | 89.2 | +19.9% |
| Other services | 102.6 | 98.6 | +4.0% |
| All items, 2008 | 100.6 | 98.1 | +2.5% |
| $50,000 in Detroit equals in Richmond | $48,784 | ||
| $100,000 in Detroit equals in Richmond | $97,567 | ||
| $150,000 in Detroit equals in Richmond | $146,351 |
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Last updated 2026-10-16. Data only, not financial or tax advice.