Raleigh vs Richmond
The short version
- Overall prices are about the same in both metro areas (BEA 2024).
- The median home costs $353,000 in Richmond and $415,800 in Raleigh.
- Households earn more in Raleigh ($85,395 vs $64,587 median).
- Raleigh has the warmer winter: January highs of 52°F vs 48°F.
- Raleigh is growing faster: +8.2% since 2020 vs +4.7%.
Side by side
| Raleigh, NC | Richmond, VA | |
|---|---|---|
| People | ||
| Population (2025) | 506,306 | 237,257 |
| Growth since 2020 | +8.2% | +4.7% |
| People per square mile | 3,354 | 3,959 |
| Median age | 34.7 | 34.7 |
| Bachelor's degree or higher | 54% | 46% |
| Money and housing | ||
| Median household income | $85,395 | $64,587 |
| Median home value | $415,800 | $353,000 |
| Home value to income | 4.9× | 5.5× |
| Median rent (with utilities) | $1,572 | $1,372 |
| Metro price level (US = 100) | 98.2 | 97.9 |
| Housing price level (US = 100) | 103.5 | 99.1 |
| $75,000 elsewhere equals | $73,600 | $73,400 |
| Homeowners | 51% | 44% |
| Top state income tax | 3.99% | 5.75% |
| Combined sales tax | 7.1% | 5.77% |
| Work and commute | ||
| Average commute (minutes) | 23.0 | 21.7 |
| Work from home | 26% | 20% |
| Take public transit | 1% | 3% |
| Unemployment (2020-24 avg) | 4.4% | 5.7% |
| Poverty rate | 11.9% | 18.2% |
| Weather | ||
| January high / low | 52° / 32° | 48° / 29° |
| July high / low | 91° / 70° | 90° / 69° |
| Precipitation per year | 46 in | 46 in |
| Snowfall per year | 5 in | 9 in |
| Days 90°F or hotter | 52 | 45 |
| Nights below freezing | 65 | 74 |
| Comfortable months | 3 | 3 |
| Risks, air and home prices | ||
| Natural hazard risk (FEMA, county) | Relatively High | Relatively Low |
| FEMA risk score (lower is safer) | 95.5 | 78.4 |
| Good air days, 2025 | 66% | 73% |
| Home prices, past year | +1.1% | +3.4% |
| Home prices, past 5 years | +44.9% | +47.7% |
Highlighted cells are the better value where "better" is clear (lower prices, higher income, shorter commutes). Sources: Census Bureau 2025 estimates and ACS 2020-2024, BEA 2024, NOAA 1991-2020, Tax Foundation 2026.
Weather, month by month
Most comfortable months: Raleigh: April to May and October. Richmond: April to May and October.
Full monthly tables: Raleigh weather by month and Richmond weather by month.
What $75,000 is worth
A $75,000 salary in an average-priced US city buys about the same as $73,600 in Raleigh and $73,400 in Richmond. Moving from Raleigh to Richmond, you would need about $74,800 to match a $75,000 salary.
Moving between Raleigh and Richmond
IRS county-to-county migration, 2022 to 2023 tax years, for the counties that contain each city. See where else people move from Raleigh and Richmond.
Which would you pick?
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