Cost of Living: Monroe, MI vs Richmond, VA
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Monroe | Richmond |
|---|---|---|
| Housing Index | 90.4 | 120.0 |
| Median Home Price | $163,000 | $309,500 |
| Average Rent (2 BR Apartment) | $900 | $1800 |
| Average Rent (2 BR House) | $1000 | $1850 |
Housing Comparison: Monroe vs Richmond
- The median home price in Richmond is higher at $309,500, compared to $163,000 in Monroe.
- Renting a two-bedroom apartment costs more in Monroe at $900 than in Richmond at $1,800.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Monroe | Richmond |
|---|---|---|
| Electricity Price | $19.88 | $15.31 |
| Natural Gas Price | $15.42 | $19.91 |
| Other Utilities | $250 | $250 |
Utilities Comparison: Monroe vs Richmond
- Electricity costs are higher in Monroe at $19.88 per kWh, compared to $15.31 in Richmond.
- Richmond experiences higher natural gas costs at $19.91 per unit, with costs at $15.42 in Monroe.
- Utility expenses are equal in both Monroe and Richmond averaging $250.