Cost of Living in Richmond, LA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
87.6
100 = national avg
-12.4 vs national average
Living Wage (1 Adult)
$38,565
per year
Living Wage (Family of 4)
$91,154
per year
Cost Index by Category
Housing83.5
Food93.0
Transportation86.0
Healthcare94.4
Utilities92.5
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$638
per month
2 Bedroom
$834
per month
The overall cost of living index in Richmond is 87.6, which is 12.4% below the national average. Housing costs are below the national average at an index of 83.5. A single adult needs to earn approximately $38,565 per year to cover basic expenses.