Is it cheaper to live in Idaho Falls or Richmond?

Idaho Falls, ID is cheaper. Its monthly baseline of $970 (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 Idaho Falls than in Richmond?

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $33,000 a year in Idaho Falls versus $48,000 in Richmond.

Which has lower taxes, Idaho Falls or Richmond?

Idaho Falls is taxed under Idaho's rules (a top state income tax rate of 5.30% 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).

Idaho Falls vs Richmond Cost of Living 2026

Idaho Falls

Idaho

$970/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 $970 in Idaho Falls, ID versus $1,400 in Richmond, VA. Overall, Idaho Falls, ID is roughly 31% cheaper to live in day-to-day than Richmond, VA, driven mainly by rent.

Median household income is $69,630 in Idaho Falls, ID and $62,671 in Richmond, VA — about 10% higher in Idaho Falls, ID. Idaho has a top state income tax rate of 5.30% and a 6% state sales tax; Virginia has a top state income tax rate of 5.75% and a 5.3% state sales tax.

Idaho Falls, ID

Richmond, VA

Rent

Studio

$818

$1,183

+45% in Richmond, VA

1 Bedroom

$827

$1,195

+44% in Richmond, VA

2 Bedroom

$957

$1,374

+44% in Richmond, VA

3 Bedroom

$1,278

$1,447

+13% in Richmond, VA

Buying a Home

Median Home Value

$298,600

$328,100

+10% in Richmond, VA

Income

Median Household Income

$69,630

$62,671

+10% in Idaho Falls, ID

Metro Median Wage (annual)

$46,800

$51,460

+10% in Richmond, VA

People & Lifestyle

Median Age

33.5 yr

34.5 yr

+1.0 yr in Richmond, VA

Homeownership

64.1%

43.5%

+20.6 pp in Idaho Falls, ID

Bachelor's+ (25+)

31.0%

44.1%

+13.1 pp in Richmond, VA

Avg Commute

18.2 min

22.1 min

+3.9 min in Richmond, VA

Crime (per 100k/yr)

Violent Crime

365.3

349

+4% in Idaho Falls, ID

Property Crime

1,235.5

3,240.2

+162% 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

44.2°F

58.9°F

+14.7°F in Richmond, VA

Annual Precipitation

10.4 in

43.6 in

+33.2 in in Richmond, VA

Gas

Regular Gasoline

$4.27/gal

$3.94/gal

+8% in Idaho Falls, ID

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

Utilities

Electricity (¢/kWh)

14.4

17.2

+20% in Richmond, VA

Natural Gas ($/MCF)

$11.33

$27.20

+140% in Richmond, VA

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

Groceries

Milk (gal)

$4.82

$4.00

+17% in Idaho Falls, ID

Bread (lb)

$2.04

$1.75

+14% in Idaho Falls, ID

Eggs (doz)

$2.19

$2.21

+1% in Richmond, VA

Ground Beef (lb)

$7.36

$6.45

+12% in Idaho Falls, ID

Chicken (lb)

$2.01

$1.90

+6% in Idaho Falls, ID

Bananas (lb)

$0.70

$0.62

+12% in Idaho Falls, ID

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

State Taxes

Sales Tax (ID / VA)

5.3%

+0.7 pp in ID

Income Tax (top rate)

5.30%

5.75%

+0.5 pp in VA

Idaho Falls vs Richmond — FAQ

Is it cheaper to live in Idaho Falls or Richmond?: Idaho Falls, ID is cheaper. Its monthly baseline of $970 (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 Idaho Falls than in Richmond?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $33,000 a year in Idaho Falls versus $48,000 in Richmond.
Which has lower taxes, Idaho Falls or Richmond?: Idaho Falls is taxed under Idaho's rules (a top state income tax rate of 5.30% 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).