New Haven, IN vs Richmond, IN

Richmond is moderately more affordable than New Haven, with a 9.6% lower cost of living index. New Haven scores 73 compared to 66 for Richmond, where the US average is 100. This difference means residents of New Haven can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in New Haven is $947/month compared to $815/month in Richmond — a 16% difference. Home values follow the same pattern: Richmond is more affordable at $107,600 median vs $151,200.

Median household income in New Haven is $67,121 compared to $46,395 in Richmond (+44.7%). While New Haven is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of New Haven spend roughly 16.9% of their income on rent, less than the 21.1% in Richmond.