Living in Richmond, VA: What to Know Before Moving to Richmond
With an estimated population of 223,000, Richmond is a great mid-sized city with a rich and diverse cultural scene. Whether you’re a foodie, history buff, or nature lover, you’ll find your fix in Richmond while avoiding sky-high rent and the traffic problems that plague larger cities.
Pros and Cons of Living in Richmond
When considering moving to any new city, it’s always a good idea to weigh the pros and cons. Here’s an idea of what Richmond gets right and what it gets wrong:
Pros
- Less traffic compared to large cities
- Access to history and nature
- Affordable housing
- Proximity to Washington D.C., Charlottesville, Williamsburg, and Virginia Beach
Cons
- Lack of direct flights out of Richmond International Airport
- Must travel to Washington, D.C. or Virginia Beach for major concerts or shows
- No professional sports teams, aside from a minor league baseball team
- Hot, humid summers
Tax Rates
- State income tax: While you won’t avoid income taxes living in Virginia, the rate of 5.75% is on the lower end of the spectrum.
- Property tax: The average property tax rate in Richmond is 1.1% with the average homeowner paying $2,753 annually. This rate is slightly lower than the national average, which is $3,023 a year.
- Sales tax: The Virginia sales tax rate is 4.3%, and the city of Richmond tacks on another 1% for a combined sales tax rate of 5.3% for purchases within city limits.
Housing Market
The Richmond housing market is currently (July 2019) on fire with homes going under contract within hours of hitting the market in highly desirable neighborhoods—and often for higher than list price. The median home price is $214,800, but you can still snag a house for under $100,000 in up-and-coming neighborhoods within city limits or if you’re willing to live a little farther out into the suburbs. Home prices have appreciated 13.44% over the past ten years, and a whopping 8.8% in just the last 12 months. The average monthly rent for a two-bedroom apartment is $1,061, which is lower than the state average of $1,209 and the national average of $1,148.
Cost of Living
Richmond fares well when we compare the cost of living to the national average. In the transportation, utilities, healthcare, and groceries categories, Richmond comes in just below the national average. However, in the housing category, which compares the cost of owning and renting, Richmond is 10% higher.
If you take a look at the average annual cost of living in the Richmond metro area versus the nearby metro areas of Charlotte and Raleigh, you can get by in Richmond with an annual income of seven percent less. When compared to the metro area of Washington D.C., located only 110 miles north of Richmond, an annual household income of $105,539 is needed to maintain a moderate standard of living for a family of four. By comparison, the same family only needs $83,370 to get by in Richmond.
Weather and Natural Disasters
If you’re a fan of all four seasons, you won’t be disappointed with the weather in Richmond. People often joke that you can experience summer one day and winter the next because the weather can fluctuate so quickly.
In autumn the average daytime temperatures are in the 60 to 70 degree Fahrenheit range but don’t be surprised if you have an 80-degree day well into November. The average highs in the winter months are in the 40s and 50s. Each year is different, but you can almost always count on a few snow days in the winter months. During spring, the average temperatures will mimic fall, bringing a return of the 60s and 70s. Summer gets toasty with temperatures in the high 80s and 90s. Summers can also be a bit uncomfortable due to high humidity levels.
While natural disasters are not a major concern in Virginia, hurricanes, flash flooding, and tornadoes do occasionally occur. Because Richmond is about 115 miles from the Atlantic Ocean, most hurricanes have downgraded to major storms before they reach the capital city. Although tornadoes and flash flooding are rare, they can accompany major thunderstorms.
Economy & Job Market
Overall, Richmond has a healthy economy and job market. The unemployment rate is only 3.6% while the national average is 3.9%. The average salary is slightly lower than the national average. Richmond is a hub for lawyers, lobbyists, and legislators since it’s the capital of the commonwealth. Healthcare, food & accommodations, and administrative support are the top three industries of employment.
Richmond is national headquarters for several Fortune 500 companies, including Altria, Carmax, Dominion Resources, WestRock, Performance Food Group, Owens & Minor, and Genworth Financial. Other major employers are Capital One, VCU Health Systems, HCA Inc, Bon Secours, SunTrust, Bank of America, and Anthem.
If you’re looking for hourly employment, check out job listings at Snagajob which was founded in Richmond and is currently in Innsbrook, an office park located west of the city near Short Pump. It’s also the #1 hourly marketplace in the country. If an hourly position doesn’t do, sites like ZipRecruiter and Indeed may be better suited for you.
Traffic and Transportation
Richmond is conveniently on Interstate 95 which runs north to south, and Interstate 64 which runs east to west. Interstate 195 and the Downtown Expressway make their way through the very heart of the city, easing transportation to and from Richmond’s busiest parts of town.
Traffic isn’t a major problem in the city, although rush hour on I-95, I-64, and I-195 can become congested. Interstate 295 and Interstate 288 are available to divert traffic around the city to the east and west respectively during times of heavy traffic.
The Greater Richmond Transit System (GRTC) manages the bus system in the city and neighboring counties of Chesterfield and Henrico. In the summer of 2018 services also began on a rapid transit system called Pulse which services a seven-mile stretch of Broad Street from Rocket’s Landing in the city’s East End to Willow Lawn in the West End of Henrico County. This major improvement to the city’s public transportation system provides easier access to healthcare, education, shopping, and restaurants for many of the area’s residents.
Richmond’s Walk and Bike Score are both 51/100, which means there are areas where you can easily get around on foot or cycle. However, as you move farther from downtown, homes and amenities become more spread out, and a car is a necessity.
Things To Do
- History: If you’re a history buff, it doesn’t get much better than Richmond. Visiting Historic St. John’s Church in Church Hill where Patrick Henry gave his famous “Give Me Liberty, Or Give Me Death” speech and watching a reenactment of that event is certainly a highlight. There are two Civil War museums in town, one at Tredegar and one at the White House of the Confederacy. There’s also The Poe Museum, where you can learn all about Edgar Allen Poe’s life and hang at one of their monthly Unhappy Hours.
- Sports Teams: Unfortunately, Richmond isn’t well-known for its professional sports. The only professional sport you’ll find is the Flying Squirrels, the city’s AA baseball team. If you’re a college sports fan, however, the Virginia Commonwealth University (VCU) Rams and the University of Richmond Spiders often have competitive basketball teams, and you can catch a great college football game on the Spiders’ campus.
- Entertainment: While Richmond doesn’t host many major musical artists (you will have to drive to Virginia Beach or Washington, D.C. to see the big guys), the city certainly makes up for it with its restaurant and brewery scene. Richmond was recently named America’s Next Great Restaurant-Obsessed Town by Bon Appetit magazine. Richmond is home to over 30 craft breweries with more popping up each day. Vinepair named Richmond the number one beer destination in the world in 2018. Breweries like Hardywood, Ardent Craft Ales, and Legend’s Brewing Company are great spots to spend a lazy Sunday with a tasty brew and your closest pals.
- Nature: If you love the great outdoors, Maymont Park, Lewis Ginter Botanical Gardens, and the James River are at your disposal. Experience the James River at its finest with the water rapids and walking trails in Pony Pasture Park and Belle Isle. Biking along the 52-mile paved Virginia Capital Trail, which connects Richmond to Williamsburg, is another great way to draw you outside.
- Day Trips: Another great feature of Richmond is its proximity to some amazing day trips. Drive an hour west to Charlottesville and explore Monticello and The University of Virginia, Thomas Jefferson’s old stomping grounds. Drive two hours north (or take the train) and you can explore Washington, D.C., the nation’s capital. Drive 1-2 hours east, and you’re in Williamsburg, Jamestown, or Virginia Beach for more history or a day at the oceanfront.
Schools and Universities
The quality of Richmond City Public Schools varies greatly based on the neighborhood in which you reside. Fox and Mary Munford Elementary Schools have fabulous reputations, and the city also boasts Maggie Walker Governor’s School, a magnet high school drawing from 13 of the surrounding jurisdictions. Maggie Walker, which focuses on government and international studies, routinely ranks in the top 15 public high schools in the country.
Many people choose to live in the surrounding counties of Henrico, Hanover, and Chesterfield for better public school options. Cosby, Midlothian, James River, Deep Run, Hanover, Mills Godwin, and Douglas Freeman High Schools all boast high test scores and excellent college placement.
There are also over 60 independent school options in the Richmond metro area, each with its specialty. There are faith-based schools, single-gender schools, schools for children with learning differences such as autism and dyslexia, Montessori schools, and even home school academies. A few of the most popular schools are Collegiate, St. Christopher’s School, St. Catherine’s School, Trinity Episcopal School, St. Michael’s Episcopal School, Veritas, St. Bridget’s, Benedictine, and St. Gertrude.
Several four-year colleges and universities exist in and around Richmond. Virginia Commonwealth University is in Downtown Richmond, and the University of Richmond is located just to the west of the city. Virginia Union University, a private historically black university, is in the Northside neighborhood. Finally, Randolph Macon College, a small private liberal arts school, is just to the north in the neighboring city of Ashland.
Crime
When the occurrence of violent and property crimes is analyzed per 100,000 residents, Richmond earns a score of 5.9/10, revealing a higher crime rate than other comparable metro areas. Its crime rate is also slightly higher than the national average. While certain neighborhoods have a reputation for being a hotbed of crime in the city, there are other neighborhoods where safety is hardly a concern, just like any city in the US. Moving to the suburbs of Chesterfield, Henrico, or Hanover County will certainly improve your chances of avoiding a run-in with a crime.
Utility Providers
Before you make your move, you should always transfer utilities into your name 1-2 weeks before. It can sometimes take a few days to get on the city’s or a local provider’s schedule and moving into a home without air conditioning in the summer or heat in the winter is no fun.
Dominion Power services the entire Richmond metro area. Call 1-866-366-4357 to setup power to your new home or rental. Verizon (1-800-837-4966) and Comcast (1-800-934-6489) are the two main internet and cable providers.
Gas, water, and trash collection are handled slightly differently in Richmond and its surrounding counties. Here’s a list of the respective providers with their contact information:
Richmond
Henrico
Hanover
Chesterfield
