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 $15.91 $30.84 $38.12 $49.05 $24.35 $28.96 $32.57 $35.26 $12.06 $16.81 $20.94 $24.61
Poverty Wage $6.13 $8.29 $10.44 $12.60 $8.29 $10.44 $12.60 $14.75 $4.14 $5.22 $6.30 $7.38
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 $3,177 $4,670 $6,990 $9,294 $5,825 $7,238 $9,305 $11,345 $5,825 $7,238 $9,305 $11,345
Child Care $0 $7,843 $15,687 $23,530 $0 $0 $0 $0 $0 $7,843 $15,687 $23,530
Medical $2,866 $8,566 $8,254 $8,394 $5,885 $8,254 $8,394 $8,047 $5,885 $8,254 $8,394 $8,047
Housing $10,986 $12,966 $12,966 $17,231 $11,390 $12,966 $12,966 $17,231 $10,986 $12,966 $12,966 $17,231
Transportation $5,113 $9,378 $11,672 $13,896 $9,378 $11,672 $13,896 $12,611 $9,378 $11,672 $13,896 $12,611
Civic $1,811 $3,889 $3,554 $4,127 $3,889 $3,554 $4,127 $3,982 $3,889 $3,554 $4,127 $3,982
Other $2,875 $4,687 $5,144 $6,216 $4,687 $5,144 $6,216 $6,235 $4,687 $5,144 $6,216 $6,235
Required annual income after taxes $26,829 $52,000 $64,268 $82,688 $41,053 $48,829 $54,905 $59,450 $40,650 $56,672 $70,591 $82,980
Annual taxes $6,273 $12,158 $15,026 $19,333 $9,598 $11,417 $12,837 $13,900 $9,504 $13,250 $16,505 $19,401
Required annual income before taxes $33,102 $64,157 $79,294 $102,021 $50,652 $60,245 $67,742 $73,350 $50,154 $69,922 $87,096 $102,381

Typical Annual Salaries

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

Occupational Area Typical Annual Salary
Management $113,845
Business & Financial Operations $73,035
Computer & Mathematical $93,312
Architecture & Engineering $82,939
Life, Physical, & Social Science $63,357
Community & Social Service $46,221
Legal $75,317
Education, Training, & Library $51,245
Arts, Design, Entertainment, Sports, & Media $49,188
Healthcare Practitioners & Technical $69,015
Healthcare Support $27,725
Protective Service $41,955
Food Preparation & Serving Related $21,781
Building & Grounds Cleaning & Maintenance $25,607
Personal Care & Service $25,515
Sales & Related $28,072
Office & Administrative Support $38,958
Farming, Fishing, & Forestry $34,988
Construction & Extraction $43,060
Installation, Maintenance, & Repair $50,170
Production $36,421
Transportation & Material Moving $30,947