Everything You Need to Know About the City of Richmond Virginia

In 2017, Richmond, VA had a population of 221k people with a median age of 33.5 and a median household income of $42,356 dollars. Between 2016 and 2017 the population of Richmond, Virginia grew from 216,773 to 220,892, a 1.9% increase and its median household income grew from $41,187 dollars to $42,356 dollars, a 2.84% increase.

The population of Richmond, VA is 47.9% Black or African American Alone, 40% White Alone, and 6.49% Hispanic or Latino. N/A% of the people in Richmond, VA speak a non-English language, and 95.6% are U.S. citizens.

The largest universities in Richmond, VA are Virginia Commonwealth University (7,829 degrees awarded in 2017), University of Richmond (1,362 degrees), and Virginia Union University (324 degrees).

The median property value in Richmond, VA is $209,200 dollars, and the homeownership rate is 41.7%. Most people in Richmond, VA commute by Drove Alone, and the average commute time is 20.9 minutes. The average car ownership in Richmond, VA is 2 cars per household.


Education in Richmond

In 2017, universities in Richmond, VA awarded 9,563 degrees. The student population of Richmond, VA is skewed towards women, with 15,043 male students and 21,489 female students.

Most students graduating from Universities in Richmond, VA are White (5,242 and 57.5%), followed by Black or African American (1,546 and 17%), Asian (965 and 10.6%), and Hispanic or Latino (613 and 6.72%).

The largest universities in Richmond, VA by the number of degrees awarded are Virginia Commonwealth University (7,829 and 81.9%), University of Richmond (1,362 and 14.2%), and Virginia Union University (324 and 3.39%).

The most popular majors in Richmond, VA are General Psychology (649 and 6.79%), General Business (512 and 5.35%), and General Biological Sciences (439 and 4.59%).

The median tuition costs in Richmond, VA is $33,220 dollars for private four-year colleges, and $10,972 dollars and $29,824 dollars respectively, for public four-year colleges for in-state students and out-of-state students.


Economy in Richmond

The economy of Richmond, VA employs 109k people and Richmond has an unemployment rate of 3.6%. Richmond has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 37.1%, which is higher than the US average of 33.5%. The biggest industries in Richmond, VA are Health Care & Social Assistance (16,573 people), Retail Trade (11,755 people), and Educational Services (12,678 people), and the highest paying industries are Mining, Quarrying, & Oil & Gas Extraction ($69,583 dollars), Utilities ($66,912 dollars), and Professional, Scientific, & Technical Services ($62,682 dollars).

Households in Richmond, VA have a median annual income of $42,356 dollars, which is less than the median annual income of $61,937 dollars across the entire United States. This is in comparison to a median income of $41,187 dollars in 2016, which represents a 2.84% annual growth.


Tax Rates for Richmond

– The Sales Tax Rate for Richmond is 5.3%.

– The Income Tax Rate for Richmond is 5.8%.

– Tax Rates can have a big impact when Comparing the Cost of Living.


Income and Salaries for Richmond

– The average income of a Richmond resident is $27,860 dollars a year.

– The Median household income of a Richmond resident is $41,331 dollars a year.