Is it cheaper to live in Richmond or Springfield?

Springfield, MO is cheaper. Its monthly baseline of $940 (1BR rent + utilities) runs about 32% below Richmond, VA's $1,390, mainly because of rent.

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

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

Which has lower taxes, Richmond or Springfield?

Richmond is taxed under Virginia's rules (a top state income tax rate of 5.75% and a 5.3% state sales tax); Springfield under Missouri's (a top state income tax rate of 4.70% and a 4.225% state sales tax).

Richmond vs Springfield Cost of Living 2026

Richmond

Virginia

$1,390/mo est.

Springfield

Missouri

$940/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 $940 in Springfield, MO. Overall, Springfield, MO is roughly 32% cheaper to live in day-to-day than Richmond, VA, driven mainly by rent.

Median household income is $62,671 in Richmond, VA and $45,984 in Springfield, MO — about 27% higher in Richmond, VA. Virginia has a top state income tax rate of 5.75% and a 5.3% state sales tax; Missouri has a top state income tax rate of 4.70% and a 4.225% state sales tax.

Richmond, VA

Springfield, MO

Rent

Studio

$1,183

$760

+36% in Richmond, VA

1 Bedroom

$1,195

$772

+35% in Richmond, VA

2 Bedroom

$1,374

$926

+33% in Richmond, VA

3 Bedroom

$1,447

$1,158

+20% in Richmond, VA

Buying a Home

Median Home Value

$328,100

$165,200

+50% in Richmond, VA

Income

Median Household Income

$62,671

$45,984

+27% in Richmond, VA

Metro Median Wage (annual)

$51,460

$45,780

+11% in Richmond, VA

People & Lifestyle

Median Age

34.5 yr

33.6 yr

+0.9 yr in Richmond, VA

Homeownership

43.5%

42.9%

+0.6 pp in Richmond, VA

Bachelor's+ (25+)

44.1%

30.3%

+13.8 pp in Richmond, VA

Avg Commute

22.1 min

18.0 min

+4.1 min in Richmond, VA

Crime (per 100k/yr)

Violent Crime

349

1,189.8

+241% in Springfield, MO

Property Crime

3,240.2

4,231.6

+31% in Springfield, MO

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

56.3°F

+2.6°F in Richmond, VA

Annual Precipitation

43.6 in

45.6 in

+2.0 in in Springfield, MO

Gas

Regular Gasoline

$3.86/gal

$3.94/gal

+2% in Springfield, MO

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

Utilities

Electricity (¢/kWh)

17.6

13.7

+22% in Richmond, VA

Natural Gas ($/MCF)

$23.66

$24.13

+2% in Springfield, MO

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

Groceries

Milk (gal)

$4.00

$4.31

+8% in Springfield, MO

Bread (lb)

$1.75

$1.66

+5% in Richmond, VA

Eggs (doz)

$2.21

$3.63

+64% in Springfield, MO

Ground Beef (lb)

$6.45

$6.77

+5% in Springfield, MO

Chicken (lb)

$1.90

$2.10

+10% in Springfield, MO

Bananas (lb)

$0.62

about equal

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

State Taxes

Sales Tax (VA / MO)

5.3%

4.225%

+1.1 pp in VA

Income Tax (top rate)

5.75%

4.70%

+1.0 pp in VA

Richmond vs Springfield — FAQ

Is it cheaper to live in Richmond or Springfield?: Springfield, MO is cheaper. Its monthly baseline of $940 (1BR rent + utilities) runs about 32% below Richmond, VA's $1,390, mainly because of rent.
How much more do you need to earn to live in Richmond than in Springfield?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $48,000 a year in Richmond versus $31,000 in Springfield.
Which has lower taxes, Richmond or Springfield?: Richmond is taxed under Virginia's rules (a top state income tax rate of 5.75% and a 5.3% state sales tax); Springfield under Missouri's (a top state income tax rate of 4.70% and a 4.225% 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).