Salary Needed to Live in Richmond as a Single
A single adult living independently needs approximately $55,902/year to live comfortably in Richmond, VA, including 10% savings.
Direct Answer
A single person needs about $55,902/year to live comfortably in Richmond, VA. The bare-minimum salary is $48,448/year, but the comfortable figure includes a 10% savings target and a monthly after-tax budget of $3,416.
The minimum scenario leaves about $3,028/mo after tax and no planned savings. The comfortable scenario uses $4,659/mo gross pay to cover expenses, taxes, and a savings buffer.
Hybrid salary estimateBLS, HUD, ACS inputsLast verified May 2026
Comfortable Salary
$55,902
with 10% savings
Bare Minimum
$48,448
$4,037/mo gross, no savings buffer
Monthly Expenses
$3,028
15% below national avg
Detailed Monthly Budget for a Single in Richmond
| Expense | Richmond | Nat'l Avg | Diff |
|---|---|---|---|
| Studio/1BR Rent | $960 | $1,351 | -29% |
| Groceries | $269 | $207 | +30% |
| Utilities | $119 | $169 | -30% |
| Transportation | $243 | $316 | -23% |
| Car Insurance | $185 | $223 | -17% |
| Health Insurance | $607 | $672 | -10% |
| Internet | $65 | $65 | 0% |
| Phone | $85 | $85 | 0% |
| Dining & Social | $300 | $300 | 0% |
| Entertainment | $120 | $120 | 0% |
| Personal Care | $75 | $75 | 0% |
| Total Monthly | $3,028 | $3,583 | -15% |
How We Calculated the Salary
Monthly expenses:$3,028
Target savings (10%):$388/mo
Monthly after-tax needed:$3,416
Effective tax rate:25%
Gross annual salary needed:$55,902
What Drives the Salary Number?
Housing
$960
Studio/1BR rent is 32% of this monthly budget.
Taxes
25%
Estimated federal plus VA state tax reserve used to convert take-home needs into gross salary.
Savings target
10%
$388/mo is reserved for savings so the salary is not just break-even.
Local index
100/100
Richmond is below the national baseline; the model adjusts baseline spending by local rent and cost data.
Compare Salary Needed in Nearby south Cities
Salary Planning Checklist
- Keep studio/1br housing near $960/mo or adjust the salary target upward.
- Budget $645/mo for persona-specific costs such as Internet and Phone.
- Use $48,448/year as the survival floor and $55,902/year as the healthier negotiation target.
Other Household Types in Richmond
Related Pages
FAQ
What salary does a single person need in Richmond?
A single person needs approximately $55,902/year ($4,659/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 $960/month, which is the largest single expense at 32% of the total budget.
Is Richmond affordable for a single person?
Yes, Richmond is 15% more affordable than the national average for a single person.