Quick answer
Overall prices in the Phoenix, AZ metro were 103.3 vs 97.9 in Richmond, VA in 2024 (US = 100), so Phoenix is 5.6% more expensive than Richmond; housing rents differ by 22% (121.2 vs 99.1). A $75,000 income in Phoenix buys about what $71,038 buys in Richmond, per BEA.
Data as of 2024. Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024
| Price index (US = 100) | Phoenix | Richmond | Phoenix vs Richmond |
|---|---|---|---|
| All items | 103.3 | 97.9 | +5.6% |
| Goods | 95.0 | 96.8 | -1.8% |
| Housing (rents) | 121.2 | 99.1 | +22.3% |
| Utilities | 93.3 | 89.2 | +4.6% |
| Other services | 104.0 | 98.6 | +5.5% |
| All items, 2008 | 105.7 | 98.1 | +7.7% |
| $50,000 in Phoenix equals in Richmond | $47,359 | ||
| $100,000 in Phoenix equals in Richmond | $94,717 | ||
| $150,000 in Phoenix equals in Richmond | $142,076 |
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Last updated 2026-10-16. Data only, not financial or tax advice.