2024 wage data from the Bureau of Labor Statistics
Economists is a high-paying occupation in Richmond, VA, with a median annual salary of $118,610. Economistss in Richmond, VA earn $3,170 more (3%) than the national median of $115,440.
Economistss in Richmond, VA earn $3,170 more (3%) than the national median of $115,440.
The average salary ($143,270) is notably higher than the median — this means top earners pull the average up. A small number of highly paid Economistss skew the data.
Only 160 Economistss work in Richmond, VA. Consider nearby metro areas for more opportunities.
Cost of Living Consideration
When evaluating this salary, factor in Richmond, VA's cost of living. Housing, transportation, and taxes vary significantly between cities and can impact how far your paycheck goes.
| Percentile | Annual Salary | Monthly |
|---|---|---|
| 10th Percentile | $68,590 | $5,716 |
| 25th Percentile | $88,880 | $7,407 |
| Median | $118,610 | $9,884 |
| 75th Percentile | $193,390 | $16,116 |
| 90th Percentile | N/A | N/A |
| Mean (Average) | $143,270 | $11,939 |
| Metro Area | Median Salary |
|---|---|
| New York-Newark-Jersey City, NY-NJ-PA | $168,850 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | $157,980 |
| San Francisco-Oakland-Berkeley, CA | $134,410 |
| Houston-The Woodlands-Sugar Land, TX | $131,160 |
| Seattle-Tacoma-Bellevue, WA | $129,280 |
| Atlanta-Sandy Springs-Alpharetta, GA | $127,220 |
| Baltimore-Columbia-Towson, MD | $125,630 |
| Chicago-Naperville-Elgin, IL-IN-WI | $123,140 |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | $121,820 |
| Richmond, VA | $118,610 |
| Occupation | Median Salary |
|---|---|
| Computer and Information Research Scientists | $231,930 |
| Physicists | $212,950 |
| Family Medicine Physicians | $201,570 |
| Financial Managers | $166,800 |
| Architectural and Engineering Managers | $159,990 |
| Managers, All Other | $140,540 |
| Psychologists, All Other | $140,440 |
| Lawyers | $132,860 |
| Software Developers | $130,760 |
| Actuaries | $130,360 |
Estimate your after-tax income. Compare your real purchasing power across different states and salary levels.
Annual Take-Home
$91,531
Monthly
$7,628
Bi-Weekly
$3,520
Effective Tax Rate
22.8%
* Estimate only. Does not include local taxes, deductions, or credits. Need help with your finances? Consider consulting a certified financial planner or exploring high-yield savings accounts to maximize your take-home pay.
The cost of living in Richmond, VA is 2.1% below the national average (index: 97.9). See full cost breakdown →
After adjusting for local cost of living, the purchasing power of Richmond, VA salaries is equivalent to $83,152 in an average-cost US city.
Data verified March 2026 · Source: Bureau of Labor Statistics
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Considering a move for this role? Compare cost of living in Richmond, VAto make an informed decision. Don't forget to factor in moving costs, renters insurance, and state income tax differences when evaluating your total compensation package.