If you're moving to Richmond from New Jersey, the comparison that usually matters most is the house payment plus the tax bill, then how you'll get back to family. This 2026 guide covers those points for buyers heading to Henrico, Chesterfield, or the City of Richmond. It's not a market report, and it's not tax advice.
Compare a current New Jersey listing or recent sale to current Richmond-area listings, and confirm both tax bills.
New Jersey vs. Richmond at a glance
| Topic | What to know | Confirm with |
|---|---|---|
| Home prices | Compare a current origin-market sale or listing with current Richmond-area listings. | Your New Jersey agent or a current NJ Realtors report, and current Richmond listings |
| Real estate tax on a $450,000 assessment | Henrico $3,735, Chesterfield $4,005, City of Richmond $5,400, using 2026 real estate tax rates, current as of November 10, 2026 | The locality. New Jersey bills vary widely by municipality. Confirm yours. |
| Top state income tax rate | New Jersey's official “2020 and After” Gross Income Tax rate schedules list 10.75% on taxable income over $1,000,000. Virginia charges 5.75% on income in excess of $17,000 (Va. Code 58.1-320). | New Jersey Division of Taxation rate tables and Va. Code 58.1-320 |
| Getting back to New Jersey | I-95 is the main drive. Amtrak serves Richmond Staples Mill Road and Main Street toward the Northeast. Confirm current Richmond International Airport (RIC) flights. | A current map, Amtrak, and flyrichmond.com |
What a New Jersey budget buys in Richmond
Start with the house you actually have, or a current listing in your New Jersey county, not a statewide headline. A budget that buys an attached home in a high-cost New Jersey county can buy a detached house in many Richmond-area pockets, or a newer townhome or condo if you want to stay attached. For dues and documents, see the condo and townhome buying guide. If your origin budget is in the upper tier, see what $1 million buys around Richmond.
Worked equity example, labeled assumptions only
This is a method, not a current median and not a forecast. Assumptions, all labeled: you sell a New Jersey home for $650,000, you still owe $250,000, and total selling costs are 7% of the sale price. Get the real selling-cost figure from your New Jersey listing agent.
- Selling costs: $650,000 x 0.07 = $45,500
- Net proceeds: $650,000 – $45,500 – $250,000 = $354,500
- If you then buy a Richmond-area home at a labeled purchase price of $450,000, the loan needed before buyer closing costs is $450,000 – $354,500 = $95,500, which is about a 79% down payment from those proceeds.
Change the sale price, the mortgage payoff, or the Richmond purchase price, and the result changes. Run the math on your actual numbers.
Taxes and recurring costs
Richmond-area localities tax real estate per $100 of assessed value. On a $450,000 assessment, using 2026 real estate tax rates, current as of November 10, 2026:
- Henrico: $3,735
- Chesterfield: $4,005
- City of Richmond: $5,400
A New Jersey tax bill is set by the municipality. Pull your current bill, or a current bill on a home like the one you're selling, and compare it with the Henrico, Chesterfield, or City figure on the same assessed value. See property tax rates by county and the cost of living guide.
Income tax is a separate comparison. Virginia reaches 5.75% on income in excess of $17,000. New Jersey uses a graduated Gross Income Tax, with a top rate of 10.75% on taxable income over $1,000,000 on the official “2020 and After” schedules. At some mid-range incomes, a New Jersey bracket can be lower than Virginia's 5.75% rate. Have a CPA run both returns on your actual income, deductions, and filing status. Don't use a single top-rate headline as your whole answer.
Virginia localities also bill personal property tax on vehicles kept or garaged there. Confirm the current rate and any relief program with the Commissioner of the Revenue or Finance Department in your new locality. For after-arrival DMV and car-tax steps, use the first 30 days checklist.
Where New Jersey movers often look first
These are short, origin-tied starting points, not rankings, and not comments on who lives where. Confirm school assignment by address with the division if that matters for you.
- Western Henrico, including Short Pump and Glen Allen. A common first look for buyers used to a suburban New Jersey commute to shopping and offices, with a mix of single-family homes, townhomes, and condos along the West Broad (US 250) and I-64 corridor. See the Short Pump guide and the Glen Allen overview.
- Chesterfield, including Midlothian. Often considered by buyers who want a newer house or a larger lot and a south-side commute pattern. See the Midlothian guide.
- The Fan and nearby city neighborhoods. A closer match if you're used to a walkable New Jersey town center or a denser county seat, with older rowhouses and variable parking. See the Fan District guide.
For the broader pre-move decision, see the Moving to Richmond relocation guide.
Getting back to New Jersey
I-95 is the main driving route between the Richmond area and New Jersey, including toward Trenton and Newark. Run a current map at the hours you'd actually drive, and add stops.
Amtrak serves Richmond at Staples Mill Road and at Main Street, with Northeast service toward Trenton and Newark Penn. Confirm the current timetable, transfers, and travel time at Amtrak before you plan around a train.
Richmond International Airport (RIC) lists Newark (EWR) among its nonstop destinations, served by United, but airline schedules change. Confirm current nonstops and 1-stop options on the RIC site and on the airline's site, not on an older route list.
How to buy from New Jersey
Get a Virginia pre-approval first, then narrow 2 or 3 areas, and plan a short trip to drive commutes and walk neighborhoods. Video tours can help you decide what to see in person. Remote closings are possible with a Virginia settlement agent. Plan at least 1 trip before closing when you can. After you arrive, use the 30-day checklist for license, title, registration, and utilities.
Frequently asked questions
How much cheaper is Richmond, VA, than New Jersey?
It depends on the houses you compare. Compare a current New Jersey sale or listing to current Richmond-area listings, then add the tax bills. On a $450,000 assessment, Henrico's 2026 real estate tax is $3,735. Confirm both the sale prices and the tax bills before you use a gap in your budget.
How do property taxes in Richmond, VA, compare with New Jersey?
Richmond-area real estate tax is a published rate times assessed value. On a $450,000 assessment, the 2026 tax is $3,735 in Henrico, $4,005 in Chesterfield, and $5,400 in the City of Richmond. New Jersey bills are set by the municipality and can be much higher. Pull your current bill and compare it on the same value.
How do I get back to New Jersey from Richmond, VA?
Drive I-95 toward Trenton or Newark, or take Amtrak from Richmond Staples Mill Road or Main Street toward the Northeast. Confirm current train times with Amtrak. Check current Richmond International Airport (RIC) flights, including any Newark nonstop, on the airport site and on the airline's site. Run a current map for the drive.
Can I buy a house in Richmond, VA, without visiting first?
You can get pre-approved, tour by video, and, in some cases, write an offer from New Jersey, then visit during the inspection period. Remote closings are possible. Walking the neighborhood and driving the commute yourself still matters. Plan at least 1 trip before closing when you can, and hire a local inspector you choose.
If you're planning a move from New Jersey, book a consultation with Daniel Yoon, REALTOR®, eXp Realty to compare a specific New Jersey house or listing with current Richmond-area options.
Sources
- Henrico, Chesterfield, and City of Richmond 2026 real estate tax rates, current as of November 10, 2026
- Va. Code 58.1-320
- New Jersey Division of Taxation, income tax rate tables and the official “2020 and After” Gross Income Tax rate schedules
- Virginia DMV, New to Virginia
Educational information only, not legal, tax, or lending advice. Confirm current sale prices, tax bills, income-tax results, and travel times with the official source or a CPA, lender, or listing agent before you act. The equity example uses labeled assumptions, not market data.