Is it cheaper to live in Cambridge or Richmond?

Richmond, VA is cheaper. Its monthly baseline of $1,400 (1BR rent + utilities) runs about 50% below Cambridge, MA's $2,810, mainly because of rent.

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

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $100,000 a year in Cambridge versus $48,000 in Richmond.

Which has lower taxes, Cambridge or Richmond?

Cambridge is taxed under Massachusetts's rules (a top state income tax rate of 9.00% and a 6.25% state sales tax); Richmond under Virginia's (a top state income tax rate of 5.75% and a 5.3% state sales tax).

Cambridge vs Richmond Cost of Living 2026

Cambridge

Massachusetts

$2,810/mo est.

Richmond

Virginia

$1,400/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $2,810 in Cambridge, MA versus $1,400 in Richmond, VA. Overall, Richmond, VA is roughly 50% cheaper to live in day-to-day than Cambridge, MA, driven mainly by rent.

Median household income is $126,469 in Cambridge, MA and $62,671 in Richmond, VA — about 50% higher in Cambridge, MA. Massachusetts has a top state income tax rate of 9.00% and a 6.25% state sales tax; Virginia has a top state income tax rate of 5.75% and a 5.3% state sales tax.

Cambridge, MA

Richmond, VA

Rent

Studio

$2,236

$1,183

+47% in Cambridge, MA

1 Bedroom

$2,496

$1,195

+52% in Cambridge, MA

2 Bedroom

$2,980

$1,374

+54% in Cambridge, MA

3 Bedroom

$3,325

$1,447

+56% in Cambridge, MA

Buying a Home

Median Home Value

$1,040,500

$328,100

+68% in Cambridge, MA

Income

Median Household Income

$126,469

$62,671

+50% in Cambridge, MA

Metro Median Wage (annual)

$66,620

$51,460

+23% in Cambridge, MA

People & Lifestyle

Median Age

30.5 yr

34.5 yr

+4.0 yr in Richmond, VA

Homeownership

33.7%

43.5%

+9.8 pp in Richmond, VA

Bachelor's+ (25+)

80.2%

44.1%

+36.1 pp in Cambridge, MA

Avg Commute

26.1 min

22.1 min

+4.0 min in Cambridge, MA

Crime (per 100k/yr)

Violent Crime

436.7

349

+20% in Cambridge, MA

Property Crime

2,657.6

3,240.2

+22% 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

51.5°F

58.9°F

+7.4°F in Richmond, VA

Annual Precipitation

43.8 in

43.6 in

+0.2 in in Cambridge, MA

Gas

Regular Gasoline

$4.07/gal

$3.94/gal

+3% in Cambridge, MA

Area: Massachusetts vs East Coast (PADD 1).

Utilities

Electricity (¢/kWh)

29.6

17.2

+42% in Cambridge, MA

Natural Gas ($/MCF)

$30.66

$27.20

+11% in Cambridge, MA

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

Groceries

Milk (gal)

$4.31

$4.00

+7% in Cambridge, MA

Bread (lb)

$1.92

$1.75

+9% in Cambridge, MA

Eggs (doz)

$2.19

$2.21

+1% in Richmond, VA

Ground Beef (lb)

$6.90

$6.45

+6% in Cambridge, MA

Chicken (lb)

$2.19

$1.90

+13% in Cambridge, MA

Bananas (lb)

$0.69

$0.62

+11% in Cambridge, MA

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

State Taxes

Sales Tax (MA / VA)

6.25%

5.3%

+1.0 pp in MA

Income Tax (top rate)

9.00%

5.75%

+3.3 pp in MA

Cambridge vs Richmond — FAQ

Is it cheaper to live in Cambridge or Richmond?: Richmond, VA is cheaper. Its monthly baseline of $1,400 (1BR rent + utilities) runs about 50% below Cambridge, MA's $2,810, mainly because of rent.
How much more do you need to earn to live in Cambridge than in Richmond?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $100,000 a year in Cambridge versus $48,000 in Richmond.
Which has lower taxes, Cambridge or Richmond?: Cambridge is taxed under Massachusetts's rules (a top state income tax rate of 9.00% and a 6.25% 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).