Is it cheaper to live in Davenport or Richmond?

Davenport, IA is cheaper. Its monthly baseline of $960 (1BR rent + utilities) runs about 31% below Richmond, VA's $1,400, mainly because of rent.

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

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $31,000 a year in Davenport versus $48,000 in Richmond.

Which has lower taxes, Davenport or Richmond?

Davenport is taxed under Iowa's rules (a top state income tax rate of 3.80% and a 6% state sales tax); Richmond under Virginia's (a top state income tax rate of 5.75% and a 5.3% state sales tax).

Davenport vs Richmond Cost of Living 2026

Davenport

Iowa

$960/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 $960 in Davenport, IA versus $1,400 in Richmond, VA. Overall, Davenport, IA is roughly 31% cheaper to live in day-to-day than Richmond, VA, driven mainly by rent.

Median household income is $64,497 in Davenport, IA and $62,671 in Richmond, VA — about 3% higher in Davenport, IA. Iowa has a top state income tax rate of 3.80% and a 6% state sales tax; Virginia has a top state income tax rate of 5.75% and a 5.3% state sales tax.

Davenport, IA

Richmond, VA

Rent

Studio

$726

$1,183

+63% in Richmond, VA

1 Bedroom

$777

$1,195

+54% in Richmond, VA

2 Bedroom

$962

$1,374

+43% in Richmond, VA

3 Bedroom

$1,117

$1,447

+30% in Richmond, VA

Buying a Home

Median Home Value

$162,900

$328,100

+101% in Richmond, VA

Income

Median Household Income

$64,497

$62,671

+3% in Davenport, IA

Metro Median Wage (annual)

$48,550

$51,460

+6% in Richmond, VA

People & Lifestyle

Median Age

37.8 yr

34.5 yr

+3.3 yr in Davenport, IA

Homeownership

63.0%

43.5%

+19.5 pp in Davenport, IA

Bachelor's+ (25+)

30.0%

44.1%

+14.1 pp in Richmond, VA

Avg Commute

18.7 min

22.1 min

+3.4 min in Richmond, VA

Crime (per 100k/yr)

Violent Crime

581.4

349

+40% in Davenport, IA

Property Crime

3,559.6

3,240.2

+9% in Davenport, IA

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

Climate

Avg Annual Temperature

49.3°F

58.9°F

+9.6°F in Richmond, VA

Annual Precipitation

36.0 in

43.6 in

+7.6 in in Richmond, VA

Gas

Regular Gasoline

$3.85/gal

$3.94/gal

+2% in Richmond, VA

Area: Midwest (PADD 2) vs East Coast (PADD 1).

Utilities

Electricity (¢/kWh)

15.9

17.2

+8% in Richmond, VA

Natural Gas ($/MCF)

$22.16

$27.20

+23% in Richmond, VA

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

Groceries

Milk (gal)

$4.31

$4.00

+7% in Davenport, IA

Bread (lb)

$1.66

$1.75

+5% in Richmond, VA

Eggs (doz)

$3.63

$2.21

+39% in Davenport, IA

Ground Beef (lb)

$6.77

$6.45

+5% in Davenport, IA

Chicken (lb)

$2.10

$1.90

+9% in Davenport, IA

Bananas (lb)

$0.62

about equal

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

State Taxes

Sales Tax (IA / VA)

5.3%

+0.7 pp in IA

Income Tax (top rate)

3.80%

5.75%

+2.0 pp in VA

Davenport vs Richmond — FAQ

Is it cheaper to live in Davenport or Richmond?: Davenport, IA is cheaper. Its monthly baseline of $960 (1BR rent + utilities) runs about 31% below Richmond, VA's $1,400, mainly because of rent.
How much more do you need to earn to live in Davenport than in Richmond?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $31,000 a year in Davenport versus $48,000 in Richmond.
Which has lower taxes, Davenport or Richmond?: Davenport is taxed under Iowa's rules (a top state income tax rate of 3.80% and a 6% 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).