Quick answer
Overall prices in the Philadelphia, PA metro were 102.6 vs 97.9 in Richmond, VA in 2024 (US = 100), so Philadelphia is 4.8% more expensive than Richmond; housing rents differ by 14% (113.1 vs 99.1). A $75,000 income in Philadelphia buys about what $71,566 buys in Richmond, per BEA.
Data as of 2024. Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024
| Price index (US = 100) | Philadelphia | Richmond | Philadelphia vs Richmond |
|---|---|---|---|
| All items | 102.6 | 97.9 | +4.8% |
| Goods | 96.8 | 96.8 | +0.1% |
| Housing (rents) | 113.1 | 99.1 | +14.1% |
| Utilities | 114.4 | 89.2 | +28.2% |
| Other services | 103.1 | 98.6 | +4.5% |
| All items, 2008 | 106.4 | 98.1 | +8.5% |
| $50,000 in Philadelphia equals in Richmond | $47,710 | ||
| $100,000 in Philadelphia equals in Richmond | $95,421 | ||
| $150,000 in Philadelphia equals in Richmond | $143,131 |
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Last updated 2026-10-16. Data only, not financial or tax advice.