Is it cheaper to live in Billings or Richmond?

Billings, MT is cheaper. Its monthly baseline of $1,030 (1BR rent + utilities) runs about 26% below Richmond, VA's $1,390, mainly because of rent.

How much more do you need to earn to live in Billings than in Richmond?

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $36,000 a year in Billings versus $48,000 in Richmond.

Which has lower taxes, Billings or Richmond?

Billings is taxed under Montana's rules (a top state income tax rate of 5.65% and no state sales tax); Richmond under Virginia's (a top state income tax rate of 5.75% and a 5.3% state sales tax).

Billings vs Richmond Cost of Living 2026

Billings

Montana

$1,030/mo est.

Richmond

Virginia

$1,390/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $1,030 in Billings, MT versus $1,390 in Richmond, VA. Overall, Billings, MT is roughly 26% cheaper to live in day-to-day than Richmond, VA, driven mainly by rent.

Median household income is $71,855 in Billings, MT and $62,671 in Richmond, VA — about 13% higher in Billings, MT. Montana has a top state income tax rate of 5.65% and no state sales tax; Virginia has a top state income tax rate of 5.75% and a 5.3% state sales tax.

Billings, MT

Richmond, VA

Rent

Studio

$877

$1,183

+35% in Richmond, VA

1 Bedroom

$889

$1,195

+34% in Richmond, VA

2 Bedroom

$1,102

$1,374

+25% in Richmond, VA

3 Bedroom

$1,398

$1,447

+4% in Richmond, VA

Buying a Home

Median Home Value

$311,800

$328,100

+5% in Richmond, VA

Income

Median Household Income

$71,855

$62,671

+13% in Billings, MT

Metro Median Wage (annual)

$49,060

$51,460

+5% in Richmond, VA

People & Lifestyle

Median Age

38.1 yr

34.5 yr

+3.6 yr in Billings, MT

Homeownership

64.8%

43.5%

+21.3 pp in Billings, MT

Bachelor's+ (25+)

37.0%

44.1%

+7.1 pp in Richmond, VA

Avg Commute

16.7 min

22.1 min

+5.4 min in Richmond, VA

Crime (per 100k/yr)

Violent Crime

750.2

349

+53% in Billings, MT

Property Crime

3,123.5

3,240.2

+4% in Richmond, VA

FBI Crime Data Explorer. Offenses per 100,000 residents per year; agency reporting practices vary, so this is approximate.

Climate

Avg Annual Temperature

48.2°F

58.9°F

+10.7°F in Richmond, VA

Annual Precipitation

13.7 in

43.6 in

+29.9 in in Richmond, VA

Gas

Regular Gasoline

$4.29/gal

$3.86/gal

+10% in Billings, MT

Area: Rocky Mountain (PADD 4) vs East Coast (PADD 1).

Utilities

Electricity (¢/kWh)

14.7

17.6

+20% in Richmond, VA

Natural Gas ($/MCF)

$8.77

$23.66

+170% in Richmond, VA

Residential, state-level averages (EIA). MCF = 1,000 cubic feet.

Groceries

Milk (gal)

$4.82

$4.00

+17% in Billings, MT

Bread (lb)

$2.04

$1.75

+14% in Billings, MT

Eggs (doz)

$2.19

$2.21

+1% in Richmond, VA

Ground Beef (lb)

$7.36

$6.45

+12% in Billings, MT

Chicken (lb)

$2.01

$1.90

+6% in Billings, MT

Bananas (lb)

$0.70

$0.62

+12% in Billings, MT

Average prices — West vs South (BLS). Regional where available, otherwise U.S. average.

State Taxes

Sales Tax (MT / VA)

None

5.3%

+5.3 pp in VA

Income Tax (top rate)

5.65%

5.75%

+0.1 pp in VA

Billings vs Richmond — FAQ

Is it cheaper to live in Billings or Richmond?: Billings, MT is cheaper. Its monthly baseline of $1,030 (1BR rent + utilities) runs about 26% below Richmond, VA's $1,390, mainly because of rent.
How much more do you need to earn to live in Billings than in Richmond?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $36,000 a year in Billings versus $48,000 in Richmond.
Which has lower taxes, Billings or Richmond?: Billings is taxed under Montana's rules (a top state income tax rate of 5.65% and no state sales tax); Richmond under Virginia's (a top state income tax rate of 5.75% and a 5.3% state sales tax).

Sources: US Census Bureau, ACS 5-Year (rent, income, home value, demographics); NOAA Climate Normals 1981–2010 (climate); EIA weekly retail (gas); Tax Foundation 2026 (state taxes).