Living Wage Calculation for Richmond, VA

The living wage shown is the hourly rate that an individual in a household must earn to support his or herself and their family. The assumption is the sole provider is working full-time (2080 hours per year). The tool provides information for individuals, and households with one or two working adults and zero to three children. In the case of households with two working adults, all values are per working adult, single or in a family unless otherwise noted.

The state minimum wage is the same for all individuals, regardless of how many dependents they may have. Data are updated annually, in the first quarter of the new year. State minimum wages are determined based on the posted value of the minimum wage as of January one of the coming year (National Conference of State Legislatures, 2019). The poverty rate reflects a person's gross annual income. We have converted it to an hourly wage for the sake of comparison.

For further detail, please reference the technical documentation here.

1 ADULT 2 ADULTS

(1 WORKING)

2 ADULTS

(BOTH WORKING)

0 Children 1 Child 2 Children 3 Children 0 Children 1 Child 2 Children 3 Children 0 Children 1 Child 2 Children 3 Children
Living Wage $13.39 $27.10 $31.72 $38.85 $20.37 $24.82 $27.30 $31.11 $10.04 $14.86 $17.15 $20.12
Poverty Wage $6.00 $8.13 $10.25 $12.38 $8.13 $10.25 $12.38 $14.50 $4.06 $5.13 $6.19 $7.25
Minimum Wage $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25

Typical Expenses

These figures show the individual expenses that went into the living wage estimate. Their values vary by family size, composition, and the current location.

1 ADULT 2 ADULTS

(1 WORKING)

2 ADULTS

(BOTH WORKING)

0 Children 1 Child 2 Children 3 Children 0 Children 1 Child 2 Children 3 Children 0 Children 1 Child 2 Children 3 Children
Food $3,010 $4,446 $6,682 $8,863 $5,518 $6,877 $8,872 $10,802 $5,518 $6,877 $8,872 $10,802
Child Care $0 $8,566 $12,255 $15,943 $0 $0 $0 $0 $0 $8,566 $12,255 $15,943
Medical $2,764 $8,605 $8,317 $8,437 $5,967 $8,317 $8,437 $8,339 $5,967 $8,317 $8,437 $8,339
Housing $10,668 $12,804 $12,804 $17,052 $11,184 $12,804 $12,804 $17,052 $10,668 $12,804 $12,804 $17,052
Transportation $4,322 $8,425 $10,689 $11,645 $8,425 $10,689 $11,645 $12,206 $8,425 $10,689 $11,645 $12,206
Other $2,812 $4,688 $4,867 $6,123 $4,688 $4,867 $6,123 $6,126 $4,688 $4,867 $6,123 $6,126
Required annual income after taxes $23,576 $47,534 $55,614 $68,062 $35,783 $43,554 $47,881 $54,525 $35,267 $52,120 $60,136 $70,468
Annual taxes $4,266 $8,835 $10,367 $12,756 $6,582 $8,081 $8,901 $10,191 $6,510 $9,705 $11,223 $13,212
Required annual income before taxes $27,842 $56,370 $65,981 $80,818 $42,365 $51,635 $56,782 $64,716 $41,777 $61,825 $71,359 $83,680

Typical Annual Salaries

These are the typical annual salaries for various professions in this location.

Occupational Area Typical Annual Salary
Management $115,889
Business & Financial Operations $71,195
Computer & Mathematical $90,061
Architecture & Engineering $79,784
Life, Physical, & Social Science $60,125
Community & Social Service $45,295
Legal $77,233
Education, Training, & Library $50,743
Arts, Design, Entertainment, Sports, & Media $49,787
Healthcare Practitioners & Technical $66,407
Healthcare Support $29,437
Protective Service $41,218
Food Preparation & Serving Related $20,574
Building & Grounds Cleaning & Maintenance $24,518
Personal Care & Service $22,292
Sales & Related $26,388
Office & Administrative Support $36,980
Farming, Fishing, & Forestry $36,106
Construction & Extraction $42,194
Installation, Maintenance, & Repair $49,056
Production $34,886
Transportation & Material Moving $32,497