Overall
Diff +0.6 RPP
Madison vs Richmond
Cost of living comparison based on BEA Regional Price Parities. Richmond is 0.6% more expensive than Madison.
0.6% more expensive
Richmond, VA is 0.6% more expensive than Madison, WI on BEA Regional Price Parities (overall RPP 97.9 vs 97.3). A $100,000 salary in Madison buys about the same as $100,587 in Richmond; the largest component gap is goods.
- Overall RPP 97.3 (Madison) vs 97.9 (Richmond)
- $100k in Madison ≈ $100,587 purchasing power in Richmond
- Goods drives the gap (+3.0 RPP points)
RPP parity plate
Pair WI:VA 97.3→97.9
PHOTO-FINISH · CROSS-STATE · SPLIT-BUDGET · BOTH-BELOW · PP-PAR
- PHOTO-FINISH Photo finish
- CROSS-STATE WI × VA
- SPLIT-BUDGET Split budget
- BOTH-BELOW Both below 100
- PP-PAR PP near-par
Instrument codes from this pair's BEA Regional Price Parities (overall · goods · services · rents · national benchmark 100 · purchasing-power conversion), not a ranking or recommendation.
Madison
97.3
Cost Index
Richmond
97.9
Cost Index
What This Comparison Actually Tells You
Madison, WI and Richmond, VA are a photo finish on overall price level, only 0.6 RPP points apart. A salary conversion is therefore a fine adjustment, not evidence of a fundamentally different cost regime.
Goods creates the largest separation: Richmond is 3.0 points higher. But rents and services move against the overall direction, so this is a split budget rather than a clean across-the-board winner.
Comparable population context is incomplete for this pair, so no market-scale explanation is inferred from the price indexes.
Both metros remain below the U.S. benchmark of 100. This comparison chooses between two below-average price levels; “more expensive” here does not mean nationally expensive.
For a goods-led difference, remember that many tradable prices vary less by address than housing or labor-priced services. Use $100,587 in Richmond as the BEA equivalent of $100,000 in Madison, then replace the national basket with your own.
Category Breakdown
Goods
Diff +3.0 RPP
Services
Diff -0.6 RPP
Rents
Diff -0.6 RPP
| Category | Madison | Richmond | Difference |
|---|---|---|---|
| Overall | 97.3 | 97.9 | +0.6 |
| Goods | 93.8 | 96.8 | +3.0 |
| Services | 89.8 | 89.2 | -0.6 |
| Rents | 99.7 | 99.1 | -0.6 |
Visual Comparison
Overall
Madison 97.3
Richmond 97.9
Goods
Madison 93.8
Richmond 96.8
Services
Madison 89.8
Richmond 89.2
Rents
Madison 99.7
Richmond 99.1
Vertical line = national average (100)
How the Price Gap Changed
Madison and Richmond share 17 published annual releases from 2008 through 2024. Their overall gap held broadly steady, moving from 0.0 to 0.6 RPP points. Richmond remained the higher-index metro in the latest release.
Services changed the most within this pair: its gap moved 11.3 points between the first and latest shared releases (11.9 to 0.6 points). This describes a relative price-index history, not a forecast or a household budget.
| Release Year | Madison RPP | Richmond RPP | Relative Gap |
|---|---|---|---|
| 2008 | 98.1 | 98.1 | 0.0 points Madison higher |
| 2012 | 97.4 | 98.6 | 1.3 points Richmond higher |
| 2016 | 95.9 | 99.3 | 3.5 points Richmond higher |
| 2020 | 95.9 | 95.9 | 0.0 points Richmond higher |
| 2024 | 97.3 | 97.9 | 0.6 points Richmond higher |
Annual BEA Regional Price Parity releases; a higher index means a higher price level relative to the national average of 100. Selected years shown from the full shared series.
Salary Equivalents
What a salary in Madison would need to be in Richmond for the same purchasing power:
| In Madison | In Richmond | Difference |
|---|---|---|
| $50,000 | $50,293 | +$293 |
| $75,000 | $75,440 | +$440 |
| $100,000 | $100,587 | +$587 |
| $150,000 | $150,880 | +$880 |
$ in Madison = in Richmond
Same BEA Regional Price Parity ratio as the table above (97.3 → 97.9), computed live from your number, nothing is sent anywhere.
Frequently Asked Questions
Is Richmond more expensive than Madison?
Richmond is 0.6% more expensive than Madison. The overall cost index is 97.9 vs 97.3 (national average = 100).
What salary in Richmond equals $100K in Madison?
A $100,000 salary in Madison has the same purchasing power as $100,587 in Richmond. This is based on the BEA Regional Price Parity indexes.
How do rents compare between Madison and Richmond?
Rents in Madison are indexed at 99.7 while Richmond is at 99.1 (national average = 100). Madison has higher rents.
Data sources
- BEA Regional Price Parities (RPP), the cost-of-living indices shown on this page
- U.S. Census Bureau, American Community Survey (ACS), gross-rent observations behind the rents component
- BLS Consumer Price Index (CPI), goods and services price relatives
- BLS Occupational Employment and Wage Statistics (OEWS), labor-driven services component
- HUD Fair Market Rents (FMR), 40th-percentile rent cross-reference
Every figure on PlainCost is rendered directly from BEA Regional Price Parity source data, no number is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, our changelog, or report a data error. Data current as of 2026-08-11. Rankings measure the published cost-of-living index only; we don't recommend where to live or rate any metro's quality of life.