Quick answer
Overall prices in the Indianapolis, IN metro were 95.7 vs 97.9 in Richmond, VA in 2024 (US = 100), so Indianapolis is 2.2% less expensive than Richmond; housing rents differ by 10% (88.9 vs 99.1). A $75,000 income in Indianapolis buys about what $76,694 buys in Richmond, per BEA.
Data as of 2024. Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024
| Price index (US = 100) | Indianapolis | Richmond | Indianapolis vs Richmond |
|---|---|---|---|
| All items | 95.7 | 97.9 | -2.2% |
| Goods | 94.3 | 96.8 | -2.5% |
| Housing (rents) | 88.9 | 99.1 | -10.3% |
| Utilities | 86.4 | 89.2 | -3.2% |
| Other services | 99.1 | 98.6 | +0.5% |
| All items, 2008 | 96.7 | 98.1 | -1.4% |
| $50,000 in Indianapolis equals in Richmond | $51,130 | ||
| $100,000 in Indianapolis equals in Richmond | $102,259 | ||
| $150,000 in Indianapolis equals in Richmond | $153,389 |
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Last updated 2026-10-16. Data only, not financial or tax advice.