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 $13.23 $26.52 $30.75 $37.86 $19.98 $23.96 $26.52 $29.69 $9.85 $14.39 $16.71 $19.33
Poverty Wage $5.84 $7.91 $9.99 $12.07 $7.91 $9.99 $12.07 $14.14 $3.96 $5.00 $6.03 $7.07
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 $2,994 $4,413 $6,644 $8,812 $5,489 $6,832 $8,822 $10,741 $5,489 $6,832 $8,822 $10,741
Child Care $0 $8,427 $12,056 $15,685 $0 $0 $0 $0 $0 $8,427 $12,056 $15,685
Medical $2,472 $8,023 $7,679 $7,762 $5,586 $7,679 $7,762 $7,481 $5,586 $7,679 $7,762 $7,481
Housing $10,368 $12,504 $12,504 $16,632 $10,884 $12,504 $12,504 $16,632 $10,368 $12,504 $12,504 $16,632
Transportation $4,623 $8,424 $9,905 $11,459 $8,424 $9,905 $11,459 $11,329 $8,424 $9,905 $11,459 $11,329
Other $2,824 $4,697 $5,099 $5,935 $4,697 $5,099 $5,935 $5,808 $4,697 $5,099 $5,935 $5,808
Required annual income after taxes $23,280 $46,487 $53,887 $66,285 $35,079 $42,019 $46,482 $51,991 $34,563 $50,446 $58,538 $67,676
Annual taxes $4,240 $8,672 $10,074 $12,468 $6,480 $7,825 $8,671 $9,759 $6,408 $9,422 $10,955 $12,731
Required annual income before taxes $27,520 $55,158 $63,961 $78,752 $41,559 $49,844 $55,152 $61,750 $40,971 $59,868 $69,493 $80,407

Typical Annual Salaries

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

Occupational Area Typical Annual Salary
Management $112,963
Business & Financial Operations $70,683
Computer & Mathematical $89,241
Architecture & Engineering $77,308
Life, Physical, & Social Science $59,336
Community & Social Service $45,274
Legal $74,973
Education, Training, & Library $50,129
Arts, Design, Entertainment, Sports, & Media $48,720
Healthcare Practitioners & Technical $64,881
Healthcare Support $28,897
Protective Service $41,591
Food Preparation & Serving Related $20,225
Building & Grounds Cleaning & Maintenance $24,134
Personal Care & Service $21,768
Sales & Related $26,880
Office & Administrative Support $36,314
Farming, Fishing, & Forestry $26,284
Construction & Extraction $41,138
Installation, Maintenance, & Repair $47,979
Production $33,906
Transportation & Material Moving $32,055