Quick answer
✅ Yes — comfortably. A physical therapist in Richmond earns roughly $96,291/yr (~$5,505/mo take-home) and a 1BR costs $1,320/mo — that's 24% of take-home on rent. The standard is 30% or less.
VA · 2026
Can a Physical Therapist Afford to Live in Richmond?
Using local salary estimates and Richmond's actual cost of living — rent, taxes, utilities, and groceries — here's the real monthly picture for a physical therapist in Richmond, VA in 2026.
Monthly Budget Breakdown
Gross monthly salary
$96,291/yr local estimate
$8,024
Taxes (federal + state + FICA)
5.75% state income tax
-$2,519
Monthly take-home
After all taxes
$5,505
1BR rent
24% of take-home
-$1,320
Utilities
Electric, gas, internet avg
-$145
Groceries
Single-person estimate
-$345
Transport
Car or transit average
-$350
Left for everything else
Dining, clothing, fun, savings
$3,345
At a 40% savings rate on discretionary income, a physical therapist in Richmond could save roughly $16,056/year after covering all essentials.
What Does 24% Rent Burden Mean?
The standard rule of thumb is to spend no more than 30% of gross income on rent. At 24% of take-home pay, a physical therapist in Richmond is well within a healthy range — leaving solid room for savings and discretionary spending.
These numbers use a local salary estimate of $96,291/yr — adjusted from the national Physical Therapist median of $99,710/yr based on Richmond's cost of living index. Actual salaries vary by employer, experience, and specialization.
Best Neighborhoods in Richmond for a Physical Therapist
Based on walkability, rent levels, and quality of life — not just lowest price.
The Fan / Carytown
Victorian row houses, VCU energy, independent retail, most desirable; 1BR $1,300–1,700
Scott's Addition
20+ breweries, converted warehouses, restaurants, young professionals; 1BR $1,300–1,800
Church Hill
Historic, panoramic downtown views, gentrifying, artists, oldest neighborhood; 1BR $1,100–1,500
Frequently Asked Questions
What is the average salary for a Physical Therapist in Richmond?
A Physical Therapist in Richmond earns approximately $96,291 per year, based on the national BLS median of $99,710/yr adjusted for Richmond's cost of living. Actual pay varies by employer, experience, and specialization.
Is Richmond affordable for a physical therapist in 2026?
Yes. Rent takes around 24% of take-home pay — below the 30% guideline. A physical therapist can live comfortably in Richmond with room to save.
How much take-home pay does a Physical Therapist get in Richmond?
After federal taxes, 5.75% state income tax, and FICA, a Physical Therapist earning $96,291/yr takes home roughly $5,505/month in Richmond.
What is the rent-to-income ratio for a Physical Therapist in Richmond?
A 1-bedroom apartment in Richmond costs a median of $1,320/month. On a Physical Therapist salary, that's 24% of monthly take-home pay. Financial experts recommend keeping this below 30%.