Median Home PriceBETTER
$355,756.62
Median RentBETTER
$1,578.37/mo
Price-to-Rent Ratio
18.8
Property Tax RateTIE
0.82%
Price Change (1Y)
+0.2%
Price Change (5Y)
+0.9%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$246,961
Median Home Price
$373,720.35
Median Rent
$1,909.72/mo
Price-to-Rent RatioBETTER
16.3
Property Tax RateTIE
0.82%
Price Change (1Y)BETTER
+1.6%
Price Change (5Y)BETTER
+7.9%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$165,982
Key Differences
Home Prices
Richmond's median home price of $355,756.62 is lower than Suffolk's $373,720.35 by 5%.
Monthly Rent
Renting in Richmond costs $1,578.37/mo compared to $1,909.72/mo in Suffolk—a difference of $331.35/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.