Discretionary Income in Richmond, VA in 2024
Discretionary income is the money that’s left over after taxes and cost of living expenses, and you can have more of it – if you know where to live and work. Discretionary Income = Gross Salary – Taxes – Cost of Living
Richmond, VA is ranked 191st out of the top 333 most populated cities in the U.S. for having the highest discretionary income. Therefore, it is considered as one of the cities, where on average per month, you will have less money left in your pocket compared to other cities.
Monthly Discretionary Income for Renters in Richmond, VA
Gross Salary
$8,333
Taxes
$1,663
Cost of Living
$3,751
Discretionary Income
$2,919
With a gross annual salary of $100,000 in Richmond, VA, you would need to deduct approximately $1,663 per month for taxes. Given that the average cost of living in Richmond is $3,751, you would have around $2,919 remaining in your pocket each month after expenses.
The following table calculates the expected Discretionary Income for each salary bracket in Richmond, VA, regardless of household composition or number of income earners.
Salary and Discretionary Income Per Gross Salary Level in Richmond, VA in 2024
| Gross Annual Salary | Estimated Monthly Discretionary Income in Richmond, VA |
|---|---|
| $30,000 | -$1,519 |
| $40,000 | -$836 |
| $50,000 | -$152 |
| $60,000 | $519 |
| $70,000 | $1,119 |
| $80,000 | $1,719 |
| $90,000 | $2,319 |
| $100,000 | $2,919 |
| $110,000 | $3,518 |
| $120,000 | $4,101 |
| $130,000 | $4,684 |
| $140,000 | $5,268 |
| $150,000 | $5,851 |
| $175,000 | $7,309 |
| $200,000 | $8,741 |
| $250,000 | $11,312 |
| $300,000 | $13,770 |
| $350,000 | $16,228 |
| $400,000 | $18,687 |
| $450,000 | $21,145 |
| $500,000 | $23,603 |
Discretionary Income in Richmond, VA in 2024
Discretionary income is the money that’s left over after taxes and cost of living expenses, and you can have more of it – if you know where to live and work. Discretionary Income = Gross Salary – Taxes – Cost of Living
Richmond, VA is ranked 197th out of the top 333 most populated cities in the U.S. for having the highest discretionary income for singles. Therefore, it is considered as one of the cities, where on average per month, you will have less money left in your pocket compared to other cities.
Monthly Discretionary Income for Renters in Richmond, VA
Gross Salary
$8,333
Taxes
$1,663
Cost of Living
$2,486
Discretionary Income
$4,184
With a gross annual salary of $100,000 in Richmond, VA, a single person would need to deduct approximately $1,663 per month for taxes. Considering the average cost of living in Richmond is $2,486, singles would have around $4,184 remaining in their pocket each month after expenses.
The following table calculates the expected Discretionary Income for each salary bracket in Richmond, VA, assuming that the gross salary is earned by a single person.
Salary and Discretionary Income Per Gross Salary Level in Richmond, VA in 2024
| Gross Annual Salary | Estimated Monthly Discretionary Income in Richmond, VA |
|---|---|
| $30,000 | -$254 |
| $40,000 | $429 |
| $50,000 | $1,112 |
| $60,000 | $1,784 |
| $70,000 | $2,384 |
| $80,000 | $2,984 |
| $90,000 | $3,584 |
| $100,000 | $4,184 |
| $110,000 | $4,783 |
| $120,000 | $5,366 |
| $130,000 | $5,949 |
| $140,000 | $6,533 |
| $150,000 | $7,116 |
| $175,000 | $8,574 |
| $200,000 | $10,006 |
| $250,000 | $12,577 |
| $300,000 | $15,035 |
| $350,000 | $17,493 |
| $400,000 | $19,952 |
| $450,000 | $22,410 |
| $500,000 | $24,868 |
Discretionary Income in Richmond, VA in 2024
Discretionary income is the money that’s left over after taxes and cost of living expenses, and you can have more of it – if you know where to live and work. Discretionary Income = Gross Salary – Taxes – Cost of Living
Richmond, VA is ranked 184th out of the top 333 most populated cities in the U.S. for having the highest discretionary income for couples. Therefore, it is considered as one of the cities, where on average per month, you will have less money left in your pocket compared to other cities.
Monthly Discretionary Income for Renters in Richmond, VA
Gross Salary
$8,333
Taxes
$1,663
Cost of Living
$3,696
Discretionary Income
$2,974
With a gross annual salary of $100,000 in Richmond, VA, a couple would need to deduct approximately $1,663 per month for taxes. Considering the average cost of living in Richmond is $3,696, couples would have around $2,974 remaining in their pocket each month after expenses.
The following table calculates the expected Discretionary Income for each salary bracket in Richmond, VA, assuming that the gross salary is earned by a couple.
Salary and Discretionary Income Per Gross Salary Level in Richmond, VA in 2024
| Gross Annual Salary | Estimated Monthly Discretionary Income in Richmond, VA |
|---|---|
| $30,000 | -$1,464 |
| $40,000 | -$781 |
| $50,000 | -$97 |
| $60,000 | $574 |
| $70,000 | $1,174 |
| $80,000 | $1,774 |
| $90,000 | $2,374 |
| $100,000 | $2,974 |
| $110,000 | $3,573 |
| $120,000 | $4,156 |
| $130,000 | $4,739 |
| $140,000 | $5,323 |
| $150,000 | $5,906 |
| $175,000 | $7,364 |
| $200,000 | $8,796 |
| $250,000 | $11,367 |
| $300,000 | $13,825 |
| $350,000 | $16,284 |
| $400,000 | $18,676 |
| $450,000 | $21,051 |
| $500,000 | $23,426 |
Discretionary Income in Richmond, VA in 2024
Discretionary income is the money that’s left over after taxes and cost of living expenses, and you can have more of it – if you know where to live and work. Discretionary Income = Gross Salary – Taxes – Cost of Living
Richmond, VA is ranked 192nd out of the top 333 most populated cities in the U.S. for having the highest discretionary income for single parents. Therefore, it is considered as one of the cities, where on average per month, you will have less money left in your pocket compared to other cities.
Monthly Discretionary Income for Renters in Richmond, VA
Gross Salary
$8,333
Taxes
$1,402
Cost of Living
$3,646
Discretionary Income
$3,285
With a gross annual salary of $100,000 in Richmond, VA, a single parent would need to deduct approximately $1,402 per month for taxes. Considering the average cost of living in Richmond is $3,646, single parents would have around $3,285 remaining in their pocket each month after expenses.
The following table calculates the expected Discretionary Income for each salary bracket in Richmond, VA, assuming that the gross salary is earned by a single parent.
Salary and Discretionary Income Per Gross Salary Level in Richmond, VA in 2024
| Gross Annual Salary | Estimated Monthly Discretionary Income in Richmond, VA |
|---|---|
| $30,000 | -$1,348 |
| $40,000 | -$654 |
| $50,000 | $30 |
| $60,000 | $713 |
| $70,000 | $1,396 |
| $80,000 | $2,080 |
| $90,000 | $2,685 |
| $100,000 | $3,285 |
| $110,000 | $3,885 |
| $120,000 | $4,479 |
| $130,000 | $5,062 |
| $140,000 | $5,645 |
| $150,000 | $6,229 |
| $175,000 | $7,687 |
| $200,000 | $9,145 |
| $250,000 | $11,748 |
| $300,000 | $14,211 |
| $350,000 | $16,670 |
| $400,000 | $19,128 |
| $450,000 | $21,586 |
| $500,000 | $24,045 |
Discretionary Income in Richmond, VA in 2024
Discretionary income is the money that’s left over after taxes and cost of living expenses, and you can have more of it – if you know where to live and work. Discretionary Income = Gross Salary – Taxes – Cost of Living
Richmond, VA is ranked 192nd out of the top 333 most populated cities in the U.S. for having the highest discretionary income for families. Therefore, it is considered as one of the cities, where on average per month, you will have less money left in your pocket compared to other cities.
Monthly Discretionary Income for Renters in Richmond, VA
Gross Salary
$8,333
Taxes
$1,161
Cost of Living
$5,176
Discretionary Income
$1,996
With a gross annual salary of $100,000 in Richmond, VA, a family would need to deduct approximately $1,161 per month for taxes. Considering the average cost of living in Richmond is $5,176, families would have around $1,996 remaining in their pocket each month after expenses.
The following table calculates the expected Discretionary Income for each salary bracket in Richmond, VA, assuming that the gross salary is earned by the family head(s).
Salary and Discretionary Income Per Gross Salary Level in Richmond, VA in 2024
| Gross Annual Salary | Estimated Monthly Discretionary Income in Richmond, VA |
|---|---|
| $30,000 | -$2,820 |
| $40,000 | -$2,120 |
| $50,000 | -$1,420 |
| $60,000 | -$737 |
| $70,000 | -$54 |
| $80,000 | $630 |
| $90,000 | $1,313 |
| $100,000 | $1,996 |
| $110,000 | $2,680 |
| $120,000 | $3,339 |
| $130,000 | $3,939 |
| $140,000 | $4,539 |
| $150,000 | $5,139 |
| $175,000 | $6,639 |
| $200,000 | $8,139 |
| $250,000 | $11,087 |
| $300,000 | $14,003 |
| $350,000 | $16,920 |
| $400,000 | $19,783 |
| $450,000 | $22,366 |
| $500,000 | $24,925 |