Key factors that impact the cost of your Indianapolis to Richmond move
What to know before moving from Indianapolis to Richmond
Moving from Indianapolis to Richmond means adjusting to a different pace of life โ and a different price tag. On average, it costs significantly more to live in Indianapolis than in Richmond, making the move an opportunity for many to enjoy a lower cost of living.
Check out how Indianapolis compares to Richmond so you know what to expect before you relocate:
Indianapolis | Richmond | |
---|---|---|
Average rent cost | $1,399 | $1,595 |
Average home value | $220,467 | $350,897 |
Average income (per capita) | $59,110 | $59,606 |
Cost of living (single person) | $2,804 | $2,270 |
Cost of living (family of 4) | $6,667 | $5,336 |
Unemployment rate | 5.6% | 7.1% |
Sales tax | 7.0% | 6.0% |
State income tax | 3.15% | 5.75% |
- Rent prices in Richmond are 14% higher than in Indianapolis, which means youโll have less money in your pocket each month.
-
In terms of homeownership, youโll be able to get more for your money in Indianapolis.
Home prices in Richmond are 59.2% higher than in Indianapolis. - Income is the same in Richmond and Indianapolis. The top employers in Richmond include Brink's, CarMax, and MeadWestvaco.
- The cost of living for a single person in Richmond is 19.0% lower than in Indianapolis. This includes routine expenses like utilities, groceries, clothing, and transportation.
- The cost of living for a family in Richmond is 20.0% lower than in Indianapolis.
- The unemployment rate in Richmond is 26.79% higher than in Indianapolis.
- Youโll spend less on retail and restaurants in Richmond, since the cityโs sales taxes in Richmond are 14.29% lower than in Indianapolis.
- State income taxes in Richmond are 82.54% higher than in Indianapolis.
To put this in perspective, you would need around $2,428.67 in Richmond to maintain the same standard of life that you can have with $3,000.00 in Indianapolis.
How life is different in Indianapolis vs. Richmond
Richmond | Indianapolis | |
---|---|---|
Population | 226,610 | 887,642 |
AllTransit Transportation Performance Score | 7 | 5 |
Walkability score | 51 | 31 |
Bike friendliness score | 51 | 43 |
Crime Index | 48.45 | 60.71 |
Safety Index | 51.55 | 39.29 |
Air Quality | Good | Good |
- Richmond might offer you a slower pace of life, since the population is about 74% less than Indianapolis.
- Richmond offers better access to buses and trains than Indianapolis, based on public transportation ratings. Richmond has a transit score of 7 out of 10 compared to 5 in Indianapolis. The higher the score, the more public transportation pickup and dropoff locations a city provides.
- Living in Richmond means youโll likely be within closer walking distance to restaurants, shops, parks, and entertainment than you are in Indianapolis. Richmond is considered more walkable than Indianapolis, with a score of 51 out of 100 versus 31 out of 100 in Indianapolis. A cityโs walkability score indicates how pedestrian-friendly it is in terms of proximity of neighborhoods to amenities.
- If cycling is your thing, Richmond is considered more bike-friendly than Indianapolis in terms of designated lanes and connectivity and how many residents opt to commute on two wheels rather than by car. Richmond has a bike-friendliness score of 51 out of 100, while Indianapolis is rated as 43 out of 100.
- Richmond has a lower crime rate than Indianapolis based on scores of 48.45 and Indianapolis's 60.71, respectively. The crime index shows how safe a city is perceived to be. So, a lower score generally means less crime.
- You might find more confidence in your overall safety in Richmond than in Indianapolis, based on Richmondโs safety index of 51.55 versus 39.29 for Indianapolis. With this index, higher scores indicate more safety, particularly around how comfortable residents feel walking alone during the day and at night.
- The air quality in Richmond and Indianapolis is generally the same (Good). Cities with good to moderate ratings have clean or acceptable air quality, with the possibility of small pollutants affecting people with certain health conditions like asthma. Anything beyond the moderate rate means increased impact on residents.
Other things to consider for your Indianapolis vs. Richmond move
- Weather: Richmond has a humid subtropical climate, with very hot, humid summers and moderately cold winters. Precipitation is rather uniformly distributed throughout the year. Dry periods lasting several weeks sometimes occur, especially in autumn, when long periods of pleasant, mild weather are most common.
- HOA rules: Check ahead with any neighborhood or community rules on moving to ensure a smooth move.
- Elevator reservation: If your building has an elevator you'll want to check on how to reserve it for move day.
- Truck parking permits: Some cities require parking permits for large vehicles and moving trucks. Find out if you need any parking permits ahead of time.
- State licensing: In addition to filing tariffs and complying with insurance, bond, and highway safety requirements, all intrastate moving companies in Virginia must have a certificate from the Virginia Department of Motor Vehicles (VaDMV). Make sure the moving company you use has a license before hiring.
- State regulator: You can verify a Virginia moving license and its status through the state's public utilities commission.
- Moving permits: Virginia does not require any moving permits, but it is helpful to check local parking restrictions before moving into the state.
- Change of address: We recommend submitting your change of address form with USPS at least a week prior to your move. You can set an official move date on the form and this way all of your mail will get properly forwarded to Richmond. Get started here.
- Moving company insurance: Every state requires moving companies to carry different levels of insurance.In Virginia, movers commonly offer Released Value Protection at no additional cost, providing coverage at 60 cents per pound. For increased protection, consider discussing Full Value Protection options with the moving company. Alternatively, explore third-party insurance providers for personalized plans. It's essential to understand coverage limits, potential additional costs, and read reviews to make an informed decision about your moving insurance in Virginia.
- Moving checklist: Our moving checklist will help you have the peace of mind that you've got everything covered.
Where to live in Richmond
Now that you've decided to make the move to "Capital of the South", these are the best neighborhoods to move to in Richmond.
Best neighborhoods for singles
- Monroe Ward
- The Fan District
- The Museum District
- Woodland Heights
Best neighborhoods for families
- Bellevue
- Byrd Park
- Museum District
- Three Chopt
- Westover Hills
Things to do in Richmond
Once youโre settled into your new home in Virginia, itโs time to get out and discover what Richmond has to offer. No matter your interests, thereโs something for everyone here:
- Arts and culture: Richmond features a variety of museums and cultural arts centers, including the Virginia Museum of Fine Arts, White House of the Confederacy, Science Museum of Virginia, Edgar Allan Poe Museum, and Virginia Museum of History & Culture.
- Outdoor recreation: The cityโs Belle Isle, Libby Hill Park, Pony Pasture Park (James River Park System), and Capitol Square Park โ among other spots โ perfect for hiking, biking, or simply soaking up the outdoors.
- Sports: Grab a seat and root for the home team during an Richmond Kickers (USL League One) and Richmond Flying Squirrels (Double-A East) game.
FAQ
When is the best time to move from Indianapolis to Richmond?
The most budget-friendly and comfortable times to move from Indianapolis to Richmond are in the spring or fall, when the weather is mild and moving rates in Indianapolis are lower.
When is the cheapest time to move from Indianapolis to Richmond?
With many people choosing to move from Indianapolis to Richmond in spring or fall, winter moves often come with better rates. Take a look at our moving discounts guide to find out how to save.
How long does a move from Indianapolis to Richmond take?
Moving from Indianapolis, IN to Richmond, VA covers 626 miles and usually takes one to six days. Need to move faster? Some Indianapolis movers offer expedited options. If youโre not ready to receive your items, look into storage solutions in Richmond.