Living Cost Compare
Richmond

Virginia

$1,390/mo est.

vs
Sioux Falls

South Dakota

$1,030/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $1,390 in Richmond, VA versus $1,030 in Sioux Falls, SD. Overall, Sioux Falls, SD is roughly 26% cheaper to live in day-to-day than Richmond, VA, driven mainly by rent.

Median household income is $62,671 in Richmond, VA and $74,714 in Sioux Falls, SD — about 16% higher in Sioux Falls, SD. Virginia has a top state income tax rate of 5.75% and a 5.3% state sales tax; South Dakota has no state income tax and a 4.2% state sales tax.

Richmond, VA
Sioux Falls, SD

Rent

Studio
$1,183
$825
+30% in Richmond, VA
1 Bedroom
$1,195
$870
+27% in Richmond, VA
2 Bedroom
$1,374
$1,000
+27% in Richmond, VA
3 Bedroom
$1,447
$1,237
+15% in Richmond, VA

Buying a Home

Median Home Value
$328,100
$271,400
+17% in Richmond, VA

Income

Median Household Income
$62,671
$74,714
+19% in Sioux Falls, SD
Metro Median Wage (annual)
$51,460
$47,970
+7% in Richmond, VA

People & Lifestyle

Median Age
34.5 yr
35.1 yr
+0.6 yr in Sioux Falls, SD
Homeownership
43.5%
60.0%
+16.5 pp in Sioux Falls, SD
Bachelor's+ (25+)
44.1%
37.4%
+6.7 pp in Richmond, VA
Avg Commute
22.1 min
17.0 min
+5.1 min in Richmond, VA

Crime (per 100k/yr)

Violent Crime
349
526.7
+51% in Sioux Falls, SD
Property Crime
3,240.2
2,927.1
+10% 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
58.9°F
45.8°F
+13.1°F in Richmond, VA
Annual Precipitation
43.6 in
26.4 in
+17.2 in in Richmond, VA

Gas

Regular Gasoline
$3.86/gal
$3.94/gal
+2% in Sioux Falls, SD

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

Utilities

Electricity (¢/kWh)
17.6
15.7
+11% in Richmond, VA
Natural Gas ($/MCF)
$23.66
$10.95
+54% in Richmond, VA

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

Groceries

Milk (gal)
$4.00
$4.31
+8% in Sioux Falls, SD
Bread (lb)
$1.75
$1.66
+5% in Richmond, VA
Eggs (doz)
$2.21
$3.63
+64% in Sioux Falls, SD
Ground Beef (lb)
$6.45
$6.77
+5% in Sioux Falls, SD
Chicken (lb)
$1.90
$2.10
+10% in Sioux Falls, SD
Bananas (lb)
$0.62
$0.62
about equal

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

State Taxes

Sales Tax (VA / SD)
5.3%
4.2%
+1.1 pp in VA
Income Tax (top rate)
5.75%
None
+5.8 pp in VA

Richmond vs Sioux Falls — FAQ

Is it cheaper to live in Richmond or Sioux Falls?
Sioux Falls, SD is cheaper. Its monthly baseline of $1,030 (1BR rent + utilities) runs about 26% below Richmond, VA's $1,390, mainly because of rent.
How much more do you need to earn to live in Richmond than in Sioux Falls?
To keep rent near the recommended 30% of gross income, you'd want to earn roughly $48,000 a year in Richmond versus $35,000 in Sioux Falls.
Which has lower taxes, Richmond or Sioux Falls?
Richmond is taxed under Virginia's rules (a top state income tax rate of 5.75% and a 5.3% state sales tax); Sioux Falls under South Dakota's (no state income tax and a 4.2% 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).