Is Memphis or Richmond more affordable?
Memphis has a median rent of $950/month, while Richmond is $1,250/month. Memphis is more affordable for renters.
City comparison
Memphis, TN vs Richmond, VA
Side-by-side comparison of cost of living, taxes, climate, and quality of life between Memphis and Richmond.
4
Memphis wins
of 5 metrics
tracked
1
Richmond wins
TN
Memphis
vs
VA
Richmond
Overview
633,104
Population
226,610
$41,228
Median Income
+26.1%$52,000✓
Cost of Living
$950✓
Median Rent / mo
+31.6%$1,250
$155,000✓
Median Home Price
+87.1%$290,000
28%
Rent-to-Income %
29%
Taxes
None✓
State Income Tax
5.75%
9.75%
Local Tax Rate
6.00%
Climate & Weather
70°F
Avg High Temp
68°F
49°F
Avg Low Temp
47°F
214 days✓
Sunny Days / Year
205 days
54"
Annual Rainfall
44"
Who should choose
Memphis, TN
Memphis is a city in Tennessee with a population of 633,104.
Read full Memphis guide →Who should choose
Richmond, VA
Richmond is a city in Virginia with a population of 226,610.
Read full Richmond guide →Memphis vs Richmond — Common Questions
Which city has lower taxes — Memphis or Richmond?
Tennessee has no state income tax. Virginia has a 5.75% state income tax. Memphis wins on state income tax.
What is the weather difference between Memphis and Richmond?
Memphis gets 214 sunny days/year. Richmond gets 205 sunny days/year. Avg high in Memphis: 70°F. Avg high in Richmond: 68°F
Which city is better for families — Memphis or Richmond?
Memphis. Richmond. The right choice depends on your priorities — income, affordability, taxes, and climate all play a role.
More city comparisons
Data sourced from U.S. Census Bureau, Bureau of Labor Statistics, and NOAA. Green values indicate a better outcome for that metric.