Is it cheaper to live in Meridian or Richmond?

Richmond, VA is cheaper. Its monthly baseline of $1,400 (1BR rent + utilities) runs about 17% below Meridian, ID's $1,690, mainly because of rent.

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

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $62,000 a year in Meridian versus $48,000 in Richmond.

Which has lower taxes, Meridian or Richmond?

Meridian 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).

Meridian vs Richmond Cost of Living 2026

Meridian

Idaho

$1,690/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 $1,690 in Meridian, ID versus $1,400 in Richmond, VA. Overall, Richmond, VA is roughly 17% cheaper to live in day-to-day than Meridian, ID, driven mainly by rent.

Median household income is $98,686 in Meridian, ID and $62,671 in Richmond, VA — about 36% higher in Meridian, 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.

Meridian, ID

Richmond, VA

Rent

Studio

$1,523

$1,183

+22% in Meridian, ID

1 Bedroom

$1,540

$1,195

+22% in Meridian, ID

2 Bedroom

$1,489

$1,374

+8% in Meridian, ID

3 Bedroom

$1,893

$1,447

+24% in Meridian, ID

Buying a Home

Median Home Value

$485,000

$328,100

+32% in Meridian, ID

Income

Median Household Income

$98,686

$62,671

+36% in Meridian, ID

Metro Median Wage (annual)

$49,100

$51,460

+5% in Richmond, VA

People & Lifestyle

Median Age

37.4 yr

34.5 yr

+2.9 yr in Meridian, ID

Homeownership

76.1%

43.5%

+32.6 pp in Meridian, ID

Bachelor's+ (25+)

44.4%

44.1%

+0.3 pp in Meridian, ID

Avg Commute

22.3 min

22.1 min

+0.2 min in Meridian, ID

Crime (per 100k/yr)

Violent Crime

150.3

349

+132% in Richmond, VA

Property Crime

583.5

3,240.2

+455% 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

52.5°F

58.9°F

+6.4°F in Richmond, VA

Annual Precipitation

11.7 in

43.6 in

+31.9 in in Richmond, VA

Gas

Regular Gasoline

$4.27/gal

$3.94/gal

+8% in Meridian, 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 Meridian, ID

Bread (lb)

$2.04

$1.75

+14% in Meridian, ID

Eggs (doz)

$2.19

$2.21

+1% in Richmond, VA

Ground Beef (lb)

$7.36

$6.45

+12% in Meridian, ID

Chicken (lb)

$2.01

$1.90

+6% in Meridian, ID

Bananas (lb)

$0.70

$0.62

+12% in Meridian, 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

Meridian vs Richmond — FAQ

Is it cheaper to live in Meridian or Richmond?: Richmond, VA is cheaper. Its monthly baseline of $1,400 (1BR rent + utilities) runs about 17% below Meridian, ID's $1,690, mainly because of rent.
How much more do you need to earn to live in Meridian than in Richmond?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $62,000 a year in Meridian versus $48,000 in Richmond.
Which has lower taxes, Meridian or Richmond?: Meridian 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).