IncomeBy County

Richmond city, Virginia

Income Data

-16% vs. Virginia average
$62,671
Median Household Income
$44,249
Per Capita Income

At a Glance

Median Household Income
$62,671
-16% vs. state avg
Per Capita Income
$44,249
+12% vs. national
Income-to-Housing Ratio
19.1%
income as % of home value
Rank in Virginia
#80 / 133
by median household income

How Richmond city Compares

Richmond city$62,671
Virginia Average$74,957
National Median$74,755

Detailed Income Statistics

$62,671
Median Household Income
$44,249
Per Capita Income
$328,100
Median Home Value
19.1%
Income-to-Housing Ratio

Data Story

About Household Income in Richmond city, Virginia

Richmond city earns 16% below national average

The median household income in Richmond city stands at $62,671, trailing the national median of $74,755 by $12,084. This gap reflects Richmond's position as an urban center with a more diverse economic profile than many faster-growing regions.

Middle of the pack in Virginia

Richmond city ranks in the middle range among Virginia counties with a median household income of $62,671, just below the state average of $74,957. The city's per capita income of $44,249 exceeds the state's $39,155 average, suggesting a more educated workforce concentrated in professional roles.

Outearning nearby smaller cities

Richmond city's $62,671 median income outpaces nearby Roanoke city ($52,671) by $10,000 annually, reflecting Richmond's status as the state capital with stronger institutional employment. However, it lags suburban Roanoke County ($82,931) and the more prosperous Rockingham County ($78,468).

Housing costs remain manageable here

At 25.2% of income, Richmond city's rent-to-income ratio sits at the upper limit of affordability, meaning housing consumes a significant but workable share of earnings. The median home value of $328,100 requires roughly 5 years of gross household income, putting homeownership within reach for dual-income households.

Build long-term wealth in Richmond

With median income of $62,671, Richmond households have meaningful opportunity to save and invest—even modest regular contributions to retirement accounts compound significantly over time. Consider speaking with a financial advisor about tax-advantaged accounts and building an emergency fund as the foundation for wealth growth.

Frequently Asked Questions

What is the median household income in Richmond city, Virginia?
The median household income in Richmond city, Virginia is $62,671, according to U.S. Census Bureau American Community Survey 2019-2023 5-Year Estimates. This represents the midpoint of all household incomes in the county.
How much do people earn in Richmond city?
The per capita income in Richmond city is $44,249, which represents the average income per person across the entire county population. The median household income — which accounts for all earners in a household — is $62,671.
How does Richmond city compare to the Virginia average?
Richmond city's median household income of $62,671 is lower than the Virginia state average of $74,957. The per capita income is $44,249, compared to the state average of $39,155.
What is the per capita income in Richmond city, Virginia?
The per capita income in Richmond city, Virginia is $44,249, according to U.S. Census Bureau American Community Survey 2019-2023 5-Year Estimates. Per capita income is calculated by dividing total personal income by total population, providing an average income figure per resident.
Is Richmond city a low-income area in Virginia?
Richmond city's median household income of $62,671 is below the Virginia average of $74,957. The per capita income of $44,249 is also comparable to the state average of $39,155. Lower incomes can reflect the local economic base, rural vs. urban location, and employment opportunities available in the area.
How does Richmond city rank for income in Virginia?
Richmond city ranks #80 out of 133 counties in Virginia by median household income (1 = highest). With a median household income of $62,671 and per capita income of $44,249, it falls in the middle third of counties statewide.

Income Comparison Calculator

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County median: $62,671 per year

vs. County Median

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vs. State Average

-16%

vs. National Median

-16%

vs. Richmond city MedianAbout equal
vs. Virginia Average▼ 16% below
vs. National Median▼ 16% below

Income Adequacy

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Your monthly income ($5,223) vs. median rent ($1,314/mo). A ratio of 3.3x or higher means rent is under 30% of income.

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$62,704
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$62,632
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Howard County
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$62,628
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Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.

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