Is it cheaper to live in Concord or Richmond?

Richmond, VA is cheaper. Its monthly baseline of $1,400 (1BR rent + utilities) runs about 1% below Concord, NH's $1,410, mainly because of electricity costs.

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

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $45,000 a year in Concord versus $48,000 in Richmond.

Which has lower taxes, Concord or Richmond?

Concord is taxed under New Hampshire's rules (no state income tax 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).

Concord vs Richmond Cost of Living 2026

Concord

New Hampshire

$1,410/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 $1,410 in Concord, NH versus $1,400 in Richmond, VA. Overall, Richmond, VA is roughly 1% cheaper to live in day-to-day than Concord, NH, driven mainly by electricity costs.

Median household income is $83,701 in Concord, NH and $62,671 in Richmond, VA — about 25% higher in Concord, NH. New Hampshire has no state income tax and no state sales tax; Virginia has a top state income tax rate of 5.75% and a 5.3% state sales tax.

Concord, NH

Richmond, VA

Rent

Studio

$876

$1,183

+35% in Richmond, VA

1 Bedroom

$1,134

$1,195

+5% in Richmond, VA

2 Bedroom

$1,475

$1,374

+7% in Concord, NH

3 Bedroom

$1,769

$1,447

+18% in Concord, NH

Buying a Home

Median Home Value

$323,700

$328,100

+1% in Richmond, VA

Income

Median Household Income

$83,701

$62,671

+25% in Concord, NH

Metro Median Wage (annual)

—

$51,460

People & Lifestyle

Median Age

40.7 yr

34.5 yr

+6.2 yr in Concord, NH

Homeownership

57.4%

43.5%

+13.9 pp in Concord, NH

Bachelor's+ (25+)

40.1%

44.1%

+4.0 pp in Richmond, VA

Avg Commute

23.2 min

22.1 min

+1.1 min in Concord, NH

Crime (per 100k/yr)

Violent Crime

180.7

349

+93% in Richmond, VA

Property Crime

1,251.5

3,240.2

+159% 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

46.4°F

58.9°F

+12.5°F in Richmond, VA

Annual Precipitation

40.6 in

43.6 in

+3.0 in in Richmond, VA

Gas

Regular Gasoline

$3.94/gal

about equal

Area: East Coast (PADD 1) vs East Coast (PADD 1).

Utilities

Electricity (¢/kWh)

27.0

17.2

+36% in Concord, NH

Natural Gas ($/MCF)

$21.67

$27.20

+26% in Richmond, VA

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

Groceries

Milk (gal)

$4.31

$4.00

+7% in Concord, NH

Bread (lb)

$1.92

$1.75

+9% in Concord, NH

Eggs (doz)

$2.19

$2.21

+1% in Richmond, VA

Ground Beef (lb)

$6.90

$6.45

+6% in Concord, NH

Chicken (lb)

$2.19

$1.90

+13% in Concord, NH

Bananas (lb)

$0.69

$0.62

+11% in Concord, NH

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

State Taxes

Sales Tax (NH / VA)

None

5.3%

+5.3 pp in VA

Income Tax (top rate)

None

5.75%

+5.8 pp in VA

Concord vs Richmond — FAQ

Is it cheaper to live in Concord or Richmond?: Richmond, VA is cheaper. Its monthly baseline of $1,400 (1BR rent + utilities) runs about 1% below Concord, NH's $1,410, mainly because of electricity costs.
How much more do you need to earn to live in Concord than in Richmond?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $45,000 a year in Concord versus $48,000 in Richmond.
Which has lower taxes, Concord or Richmond?: Concord is taxed under New Hampshire's rules (no state income tax 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).