Quick answer
Richmond costs $70/month less overall ($1,810 vs $1,880/mo). Richmond also has lower state income tax (5.75% vs 7.65%), widening the advantage for higher earners.
City Comparison · 2026
Madison vs Richmond
Side-by-side on rent, home prices, taxes, walkability, jobs, and climate — with a straight verdict for each type of mover.
Last updated: April 23, 2026
Madison vs Richmond at a Glance
| Metric | Madison | Richmond |
|---|---|---|
| 1BR Monthly Rent | $1,380 | $1,680 ✓ |
| 2BR Monthly Rent | $1,720 | $1,680 ✓ |
| Median Home Price | $370K | $330K ✓ |
| Avg Utilities/mo | $145 ✓ | $145 |
| Avg Groceries/mo | $355 | $345 ✓ |
| Monthly Cost (1BR) | $1,880 | $1,810 ✓ |
| Walk Score | 63/100 ✓ | 51/100 |
| Transit Score | 46/100 ✓ | 37/100 |
| State Income Tax | 7.65% | 5.75% ✓ |
Monthly cost = 1BR rent + utilities + groceries for one person. ✓ marks the lower/better value.
Cost of Living: What the Numbers Actually Mean
Rent gap: Richmond's 1BR averages $1,320/month vs $1,380 in Madison — a $60/month difference, or $720/year. That's close enough that neighborhood choice within each city matters more than the city-level average.
State tax: Richmond charges 5.75% state income tax vs 7.65% in Madison. On an $80K salary that's a $1,520/year difference. On $120K, the gap grows to $9,180 vs $6,900 — important context if you're choosing between tech job offers.
Home buying: Median homes in Richmond are $330K vs $370K in Madison. At a 20% down payment, that's a $8,000 difference in upfront cash — significant at early-career savings rates.
Utilities: Utilities are essentially equal between both cities at $145/month.
Walkability, Transit & Daily Life
Madison, WI
Madison's walkability means you can genuinely live without a car in the right neighborhoods.
TOP NEIGHBORHOODS
Richmond, VA
Richmond is partially walkable in denser neighborhoods but car-dependent in most areas.
TOP NEIGHBORHOODS
Climate
Madison
Four seasons; brutal winters (lakes freeze solid for skating), warm summers, beautiful fall; 189 sunny days
Richmond
Four seasons; hot humid summers, mild winters with occasional snow, pleasant spring and fall
Job Market
Madison top industries
Richmond top industries
Who Should Pick Which City
Move to Madison if…
- →You're a researchers / academics
- →You're a tech workers
- →You're a outdoor / lake lifestyle seekers
- →You're a progressive culture seekers
Move to Richmond if…
- →You're a finance workers
- →You're a outdoor enthusiasts
- →You're a craft beer lovers
- →You're a DC-adjacent remote workers
- →You're buying a home and want more for your money
Frequently Asked Questions
Is Madison or Richmond cheaper to live in?
Richmond is cheaper overall. Monthly costs (1BR rent + utilities + groceries) run $1,810 in Richmond vs $1,880 in Madison — a $70/month difference.
Which city is more walkable — Madison or Richmond?
Madison is more walkable with a Walk Score of 63/100 vs 51/100. Richmond is more car-dependent.
Madison vs Richmond: which has lower state income tax?
Richmond has lower state income tax (5.75%). On an $80K salary, that saves $1,520/year vs Madison (7.65%).
Is Madison or Richmond better for buying a home?
Richmond has lower median home prices at $330K vs $370K in Madison — a $40,000 difference on the median home.