Site icon Daniel Yoon

Moving to Richmond from Charlottesville: $65,950 Less for the Median Home, 70 Miles East on I-64 (2026)

Daniel Yoon

Moving to Richmond from Charlottesville lowers your purchase price: the Richmond metro median sale was $434,050 in Q2 2026, against $500,000 in the City of Charlottesville and $570,000 in Albemarle County. That is $65,950 to $135,950 less for the median home, 70 miles east on I-64, with the same 5.75% Virginia income tax rate and a far larger list of employers.

Daniel Yoon is a Certified New Home Co-Broker (NHCB), Accredited Buyer’s Representative (ABR), and Seller Representative Specialist (SRS) with eXp Realty who represents buyers relocating to Henrico, Chesterfield, Hanover, and Richmond City.

Charlottesville vs Richmond at a glance

MetricCharlottesville and AlbemarleRichmond metro
Median sale price, Q2 2026City of Charlottesville $500,000. Albemarle County $570,000. Six-locality CAAR region $486,500.$434,050 all residential. $455,000 single-family. $375,000 condo and townhome.
Real estate tax on a $450,000 homeCharlottesville $4,455 at $0.99 per $100. Albemarle $4,023 at $0.894.Hanover $3,645. Henrico $3,735. Chesterfield $4,005. Richmond City $5,400.
Highest state income tax rate5.75% over $17,0005.75% over $17,000
Mean commute, Census 2020 to 2024Charlottesville 17.0 minutes. Albemarle 22.2 minutes.Richmond City 21.7 minutes. Henrico 22.6. Chesterfield 26.4.
Drive between the two70 miles on I-64, about 1 hour 24 minutesSame 70 miles back
Train and air between the twoNo direct train or flight. Amtrak Thruway bus three days a week.Same bus, 1.5 to 2 hours each way
Airport serviceCHO lists 5 nonstop destinations on 3 airlinesRIC says about 150 daily flights reach 40-plus nonstop destinations

Charlottesville and Albemarle prices and supply are from the Charlottesville Area Association of Realtors Q2 2026 report, and Richmond figures from the Central Virginia Regional MLS Q2 2026 report. Charlottesville’s $0.99 rate was adopted April 9, 2026, per Cville Right Now. Albemarle’s $0.894 is on the county finance page, Henrico’s on the Henrico tax rates page, and the rest in our property tax breakdown by county. Income tax is from Virginia Tax, commutes from Census QuickFacts, mileage from distance-cities.com, the bus from the Amtrak Cardinal timetable, and flights from CHO and RIC.

What a Charlottesville budget buys in Richmond

Start with $500,000, the City of Charlottesville median. In the Richmond metro that is $45,000 above the single-family median ($500,000 minus $455,000). At $570,000, the Albemarle median, you are $115,000 over it.

The Richmond condo and townhome median was $375,000, which is $125,000 under the Charlottesville city median for all home types.

The job market is the other half of the trade. The Greater Richmond Partnership’s November 2025 employer list is led by Capital One at 14,000 local employees and VCU Health at 13,500, followed by HCA Virginia Health System at 11,200, Bon Secours Richmond at 8,516, and Virginia Commonwealth University at 7,832. Dominion Energy (5,433), Amazon (5,100), Truist (4,549), Altria (3,850), and CarMax (2,475) round out the list.

Here is a worked equity example. The payoff and selling cost are assumptions.

The loan drops from $300,000 to $219,200. If you would rather put down 20% ($91,000), you keep $144,800 in cash. One caution on timing. Albemarle had 4.2 months of supply in Q2 2026 with active listings up 45.7% from a year earlier, while Richmond had 1.8 months and sellers received 100.9% of original list price. Your sale may move slower than your purchase. Plan for that gap before you write an offer. See our guide to making a competitive offer in Richmond.

Taxes and recurring costs

Income tax is a wash. You stay in Virginia, and the state schedule is $720 plus 5.75% of taxable income over $17,000 no matter which locality you live in.

Real estate tax depends on which side of a county line you land. On a $450,000 assessment, Charlottesville charges 4,500 x $0.99 = $4,455 and Albemarle charges 4,500 x $0.894 = $4,023. Henrico is 4,500 x $0.83 = $3,735, which is $720 a year under Charlottesville and $288 under Albemarle. Hanover is $3,645 and Chesterfield is $4,005. Richmond City at $1.20 comes to $5,400, which is $945 more than Charlottesville. If you want a rowhouse in the city, budget for that.

You already know the car tax. It does not go away, and it is still annoying. Albemarle’s 2026 personal property rate is $4.28 per $100 and Henrico’s is $3.35. On a vehicle assessed at $30,000, that is 300 x $4.28 = $1,284 in Albemarle and 300 x $3.35 = $1,005 in Henrico, a difference of $279 before any state relief credit. For everything else, see our Richmond cost of living breakdown.

What you give up

The short commute goes first. City of Charlottesville workers average 17.0 minutes to work. Henrico averages 22.6 and Chesterfield 26.4. That is 11 to 19 extra minutes a day round trip, and I-64 through Short Pump at 5 p.m. will remind you of it.

The mountains get farther away. From Charlottesville, the Blue Ridge Parkway and Shenandoah National Park are an easy afternoon. From Richmond you add 70 miles of I-64 each way, so a Saturday hike becomes a day trip.

If your paycheck comes from UVA or UVA Health, which lead the City of Charlottesville’s list of largest employers, Richmond does not work as a daily commute. It is 140 miles round trip, and a UVA appointment does not transfer to VCU.

You lose Power Four college sports. Richmond has no major-league professional team, and VCU and the University of Richmond play in the Atlantic 10.

Richmond summers are humid, and spring pollen is heavy. You also buy into a tighter market. With 1.8 months of supply, you will likely compete for the houses you like.

Where Charlottesville movers should look first

The Fan and Museum District

If you own an older house in Belmont or North Downtown and walk to the Downtown Mall, The Fan is the closest match in housing stock. It is blocks of early 1900s brick rowhouses on small lots with alley parking, walkable to Main Street, Cary Street, and VCU. Use the metro single-family median of $455,000 as your reference point. Richmond City’s $1.20 tax rate applies. Our Fan District guide has current pricing.

Short Pump and western Henrico

If you live off Route 29 North in Hollymead or Forest Lakes, or in a Crozet subdivision like Old Trail, Short Pump will feel familiar. It has 1990s to current subdivisions, townhomes near retail, and new construction farther west. It is also among the first Richmond-area exits on I-64 coming from Charlottesville. Henrico’s $0.83 rate puts a $570,000 assessment at 5,700 x $0.83 = $4,731 a year. See the Short Pump neighborhood guide for subdivisions and prices.

Midlothian

Glenmore and Dunlora owners who want amenities inside the neighborhood should look at Midlothian in Chesterfield County. It has large planned communities with pools, trails, and clubhouses. The tradeoff is the commute: Chesterfield’s 26.4 minute mean is the longest of the three big Richmond localities. The tax rate is $0.89, or $4,005 on a $450,000 assessment. Our Midlothian guide and our comparison of Richmond master-planned communities go community by community.

Hanover County

If you are on acreage in Ivy, Free Union, or Keswick, Hanover is where to find land near Richmond, with a small-town center in Ashland and I-95 and I-295 access. Its $0.81 rate is the lowest of the four core localities, $3,645 on a $450,000 assessment. It is flat farmland. No mountain view. Start with our Hanover County guide. For school zone names, use our school district comparison alongside the Virginia Department of Education School Quality Profiles.

Getting back to Charlottesville

You drive. It is 70 miles on I-64, about 1 hour 24 minutes without stops.

There is no direct train. The Cardinal, Crescent, and Northeast Regional trains that stop in Charlottesville do not run through Richmond. Amtrak does run a Thruway bus. In the September 17, 2026 timetable, it leaves Richmond Main Street Station at 11:30 a.m. and reaches Charlottesville at 1:30 p.m. The return leaves at 3:45 p.m. and reaches Staples Mill Road at 5:25 p.m. and Main Street at 5:45 p.m. Both run Sunday, Wednesday, and Friday only.

Nobody flies this route. Your home airport changes, though. CHO lists nonstops to Atlanta, Charlotte, Chicago, LaGuardia, and Dulles on American, Delta, and United. RIC says about 150 daily flights provide nonstop service, reaching more than 40 destinations.

How to buy in Richmond from Charlottesville

  1. Get pre-approved with a Virginia-licensed lender before touring. If your down payment depends on selling in Albemarle’s 4.2 month market, ask about bridge financing up front.
  2. Narrow by video first. We walk houses on camera so your in-person time goes to finalists.
  3. Plan a 2 to 3 day house-hunting trip, or several day trips. At 70 miles you can see a new listing the day it hits the market.
  4. Keep the inspection. A home inspection contingency is standard in Virginia contracts, and older Richmond houses make it worth the time. Our Virginia home inspection guide explains what inspectors check.
  5. Consider new construction if you need a fixed move date. You can search new homes across the Richmond area here, and as a Certified New Home Co-Broker, Daniel represents you in the builder contract.
  6. Close with a Virginia settlement agent or attorney. Attend in person, or use a mail-away or remote closing if you cannot make the drive. Our Virginia closing costs explainer lists the line items.
  7. Update DMV after you move. You already hold a Virginia license, so the new-resident deadlines (60 days for a license, 30 days to title and register a vehicle) do not apply. Virginia DMV asks you to report an in-state address change within 30 days. Your car tax bill then comes from your new locality.

Frequently asked questions

Is Richmond VA cheaper than Charlottesville? Yes, for housing. The Richmond metro median sale price was $434,050 in Q2 2026, compared with $500,000 in the City of Charlottesville and $570,000 in Albemarle County. That is a gap of $65,950 to $135,950. State income tax is identical.

How far is Richmond from Charlottesville? Richmond is 70 miles from Charlottesville by car on I-64, about 1 hour 24 minutes without stops. Western Henrico areas such as Short Pump sit on the Charlottesville side of the metro, so the trip is shorter from there than from downtown Richmond.

Is there a train from Charlottesville to Richmond? No direct train runs between Charlottesville and Richmond. Amtrak operates a Thruway bus on Sunday, Wednesday, and Friday only, leaving Charlottesville at 3:45 p.m. and reaching Richmond Staples Mill Road at 5:25 p.m. Most people drive I-64.

Are property taxes lower in Richmond than in Charlottesville? It depends on the locality. On a $450,000 home, Charlottesville charges $4,455 and Albemarle $4,023 a year. Hanover is $3,645, Henrico $3,735, and Chesterfield $4,005. Richmond City is higher at $5,400 because its rate is $1.20 per $100, compared with Charlottesville’s $0.99.

Is the job market bigger in Richmond than in Charlottesville? Yes. The Greater Richmond Partnership’s November 2025 list shows Capital One with 14,000 local employees, VCU Health with 13,500, HCA Virginia Health System with 11,200, Bon Secours Richmond with 8,516, and Virginia Commonwealth University with 7,832. Charlottesville’s largest employers are the University of Virginia and UVA Health.

Plan your Richmond move with Daniel Yoon

We build a custom 2 to 3 day tour around your price range and commute, send video walkthroughs between trips, and introduce you to Virginia lenders and settlement agents. Daniel Yoon is a REALTOR with eXp Realty and holds the Certified New Home Co-Broker (NHCB), Accredited Buyer’s Representative (ABR), and Seller Representative Specialist (SRS) designations. Call or text 804.896.2694 or email daniel.yoon@exprealty.com. We work in English and Korean. For more, read our guide to relocating to Richmond in 2026.

Sources

Exit mobile version