Income Gap Richmond Va

Tax rates can have a big impact when comparing cost of living.

Income gap richmond va. The median household income of a richmond resident is 41 331 a year. A week in richmond va on a 179 645 joint income. Income and salaries for richmond the average income of a richmond resident is 27 860 a year. The us average is 4 6.

Richmond s poverty rate dropped dramatically loudoun county had the nation s highest household income and the gap between rich and poor widened in virginia. The living wage shown is the hourly rate that an individual in a household must earn to support his or herself and their family. There s enough of a gap between my siblings and me that i wasn t really conscious of the struggle that my parents had when all of us were. The acs 1 year data shows the median family income for richmond was 90 921 in 2019.

The median household income in richmond va in 2017 was 46 261 which was 54 6 less than the median annual income of 71 535 across the entire state of virginia. Graph and download economic data for income inequality in richmond city va 2020ratio051760 from 2010 to 2018 about richmond city va. Living wage calculation for richmond city virginia. Compared to the median income of 21 584 in 2000 this represents an increase of 45 8.

The assumption is the sole provider is working full time 2080 hours per year. Compared to the median virginia family income richmond median family income is 2 576 lower. The income tax rate for richmond is 5 8. The median household income in big stone gap va in 2017 was 39 808 which was 79 7 less than the median annual income of 71 535 across the entire state of virginia.