Salary Needed to Live in Richmond as a Single
A single adult living independently needs approximately $19,329/year to live comfortably in Richmond, VA — including 10% savings.
Comfortable Salary
$19,329
with 10% savings
Bare Minimum
$16,752
no savings buffer
Monthly Expenses
$1,047
4% below national avg
Detailed Monthly Budget for a Single in Richmond
| Expense | Richmond | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 Studio/1BR Rent | $114 | $113 | +1% |
| 🛒 Groceries | $22 | $17 | +29% |
| ⚡ Utilities | $10 | $14 | -29% |
| 🚗 Transportation | $20 | $26 | -23% |
| 🛡️ Car Insurance | $185 | $223 | -17% |
| 🏥 Health Insurance | $51 | $56 | -9% |
| Internet | $65 | $65 | 0% |
| Phone | $85 | $85 | 0% |
| Dining & Social | $300 | $300 | 0% |
| Entertainment | $120 | $120 | 0% |
| Personal Care | $75 | $75 | 0% |
| Total Monthly | $1,047 | $1,094 | -4% |
How We Calculated the Salary
Monthly expenses:$1,047
Target savings (10%):$134/mo
Monthly after-tax needed:$1,181
Effective tax rate:25%
Gross annual salary needed:$19,329
Other Household Types in Richmond
Related Pages
FAQ
What salary does a single person need in Richmond?
A single person needs approximately $19,329/year ($1,611/month gross) to live comfortably in Richmond with a 10% savings rate.
How much is rent for a single person in Richmond?
A studio/1br in Richmond costs approximately $114/month, which is the largest single expense at 11% of the total budget.
Is Richmond affordable for a single person?
Richmond is roughly average for single person costs, requiring a salary close to the national median.