Cost of Living in Richmond, IL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
119.0
100 = national avg
+19.0 vs national average
Living Wage (1 Adult)
$52,382
per year
Living Wage (Family of 4)
$123,812
per year
Cost Index by Category
Housing142.4
Food103.8
Transportation107.6
Healthcare103.0
Utilities110.7
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,581
per month
2 Bedroom
$1,781
per month
The overall cost of living index in Richmond is 119.0, which is 19.0% above the national average. Housing costs are above the national average at an index of 142.4. A single adult needs to earn approximately $52,382 per year to cover basic expenses.