Richmond is a city in Virginia state in USA with a population of 229233 residents.. The poverty rate of Richmond is 20.9%, which is 49% higher than national average. The typical household in Richmond earns $51421 a year, compared to the national median of $67,500. Financial hardship is relatively common in the city as 1 in every 5 residents live below the poverty line, well above the national poverty rate of 14.1%. Additionally, more than 1 in every 10 area households live on an income of less than $10,000 a year. Nationwide, 5.8% of households do. Nearly 49% of households earn less than $50,000 a year compared to 39% national rate.

A high school education is a basic prerequisite for most jobs, and in Richmond, only 86% of adults have a high school diploma, compared to the 87.7% of adults nationwide. The unemployment rate of Richmond remained 6.3%, which is 34% higher than national rate. Nearly 1 times comparable to 4.7% national rate, according to the Census. Higher educational attainment can lead to improved job security and reduce the likelihood of financial insecurity. In Richmond, only 41% of adults have a bachelor's degree and 24% have some college but no degree.

Cost of living in Richmond is 99, which is 1% lower than national average. Median home value in Richmond is $244200 , which is 6% higher than national average. While median income in Richmond remained $51421, which is 24% lower than national average.