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Moving to Richmond from New Jersey: $189,500 Price Gap, Taxes, and the 6-Hour Trip (2026)

Daniel Yoon

New Jersey’s statewide single-family median reached $644,500 in August 2026, against $455,000 in the Richmond metro for Q2 2026, a gap of $189,500. The average New Jersey residential property tax bill was $10,570 in 2025, while a $450,000 home in Henrico County runs $3,735 a year. If you’re weighing moving to Richmond from New Jersey, those two numbers do most of the work. Virginia’s income tax claws some of it back.

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.

New Jersey vs Richmond at a glance

MetricNew JerseyRichmond metro
Median sale price, single-family$644,500 statewide, $925,000 Bergen, $843,750 Morris, $815,000 Monmouth, $595,000 Middlesex (August 2026)$455,000 (Q2 2026)
Median sale price, townhouse or condo$440,000 statewide (August 2026)$375,000 (Q2 2026)
Real estate tax$10,570 average residential bill (2025), 1.88% effective rate$450,000 home: $3,735 Henrico, $5,400 Richmond City
Top state income tax rate10.75% over $1,000,0005.75% over $17,000
Mean commute (Census, 2020 to 2024)30.5 minutes statewide, 31.2 Bergen, 32.1 Monmouth22.6 minutes Henrico, 26.4 Chesterfield
DriveNewark Penn StationAbout 330 miles, about 5 hours 30 minutes
Nonstop flightNewark (EWR), UnitedRIC, about an hour and a half
Amtrak, no transferNewark Penn (NWK)Staples Mill Road (RVR), about 6 hours

New Jersey prices are from the New Jersey Realtors Local Market Update for August 2026 and its Bergen, Morris, Monmouth, and Middlesex county editions. Richmond prices are from the Central Virginia Regional MLS Q2 2026 report. The $10,570 bill is Department of Community Affairs data reported by New Jersey 101.5. The effective rate and brackets are from the Tax Foundation’s New Jersey page and 2026 income tax table. Henrico’s rate is on the county tax rates page. Commutes are from Census QuickFacts, the drive from Rome2Rio, the flight from FlightConnections, and the train from the Amtrak timetable.

What a New Jersey budget buys in Richmond

Start with $440,000, the August 2026 statewide median for a New Jersey townhouse or condo. Here it sits $15,000 under the single-family median of $455,000 and $65,000 over the condo and townhome median of $375,000. Attached-home money in Middlesex or Bergen County buys a detached house with a yard here. If you’d rather stay attached, our Richmond condo and townhome buying guide covers fees and HOA documents.

At $644,500, the statewide single-family median, you’re $189,500 above Richmond’s. That reaches newer homes in western Henrico, Chesterfield’s master-planned communities, and new construction. At $925,000, Bergen County’s August median, you’re in Richmond’s upper tier. Our guide to Richmond homes priced at $750,000 and up shows what that buys. It’s a small slice of the market here. In Bergen it’s the middle.

Now the equity math. Say you sell a New Jersey house at $644,500 and owe $250,000. We’ll assume 7% for total selling costs. That’s a placeholder. Get the real number from your New Jersey listing agent.

That’s a 77% down payment ($349,385 divided by $455,000). Richmond isn’t slow, though. Homes averaged 23 days on market in Q2 2026 with 1.8 months of supply, and sellers received 100.9% of original list price.

Taxes and recurring costs

Property tax is the big one. Richmond-area localities tax real estate per $100 of assessed value, so a $450,000 assessment is 4,500 times the rate.

Against New Jersey’s $10,570 average bill, the Henrico figure is $6,835 lower per year, or about $570 a month. A house assessed at $644,500 would owe 6,445 x $0.83 = $5,349 in Henrico, about half the average New Jersey bill. Chesterfield and Hanover are in our county by county property tax breakdown.

Income tax goes the other way for many households. New Jersey’s 10.75% rate only applies over $1,000,000. Virginia reaches its 5.75% rate at $17,000. Take a married couple with $200,000 of taxable income, using 2026 brackets and ignoring deductions and exemptions, which differ by state.

Virginia costs that couple about $2,541 more per year. The property tax savings still win here, but run your actual return before you count the money.

Then there’s the car tax. New Jersey doesn’t tax vehicles as property. Virginia localities do, every year. Henrico’s rate is $3.35 per $100 of assessed vehicle value, so a car assessed at $30,000 is 300 x $3.35 = $1,005 before any relief the county applies. Two newer cars eat a real piece of the property tax savings. It’s annoying. Our Richmond cost of living breakdown has the rest of the monthly picture.

What you give up

Transit goes first. There is no NJ Transit equivalent, no commuter rail, no PATH. GRTC runs buses and the Pulse rapid transit line along Broad Street, and that’s it. If you get by on one car in Montclair or Metuchen because someone takes the train, plan on two here.

Manhattan stops being an evening out. From Richmond it’s six hours by rail or a flight. Airport reach shrinks too. Newark is a United hub with long-haul international service. From RIC, most trips beyond the East Coast and the big hubs need a connection.

Job depth in pharma and life sciences is thinner. Central Jersey has Johnson and Johnson, Merck, Bristol Myers Squibb, and the supplier network around them. Richmond’s large employers are Capital One, CarMax, Dominion Energy, Altria, VCU Health, and state government. If one of you is a bench scientist, check jobs before houses.

Pro sports are gone. Richmond has Double-A baseball and the Kickers in soccer, and no NFL, NBA, NHL, or MLB team. Summers are longer and stickier than North Jersey’s, and spring tree pollen coats cars yellow for weeks. Monmouth County people lose the Shore. The pizza, bagel, and diner situation is what you’d expect.

Where New Jersey movers should look first

Short Pump and Glen Allen, western Henrico

If you live in a suburb built around a highway retail corridor, such as Parsippany along Route 46 or Paramus along Route 17, this is the closest match. You get subdivisions from the 1990s through today, I-64 and I-295 access, and Short Pump Town Center on West Broad Street. Homes here are zoned largely for Deep Run, Glen Allen, and Godwin high schools. Look up any school on the Virginia Department of Education School Quality Profiles. Expect to shop above the $455,000 metro single-family median, at Henrico’s $0.83 rate. Details are in our Short Pump neighborhood guide.

The Fan and Museum District, Richmond City

This is the match for a walkable town like Montclair, Hoboken, or downtown Ridgewood. Early 1900s rowhouses, street parking, small rear yards, restaurants and VCU on foot. The metro condo and townhome median of $375,000 is the entry anchor, and renovated rowhouses run well past it. You pay the City’s $1.20 rate, $5,400 a year on a $450,000 assessment. Read our Fan District guide.

Midlothian, Chesterfield County

Buyers from Monmouth and Middlesex subdivisions, think Marlboro, Manalapan, or East Brunswick, will recognize Midlothian. Cul-de-sac neighborhoods, community pools, and a commute downtown on the tolled Powhite Parkway or Route 288. Chesterfield’s mean commute is 26.4 minutes and the rate is $0.89, or $4,005 on a $450,000 home. The area’s planned communities are covered in our Midlothian neighborhood guide.

Hanover County

For people in western Morris or the horse-country end of Monmouth who want acreage, Hanover is where to look. Mechanicsville has conventional subdivisions close to I-295. Farther out, around Ashland and Rockville, many lots have wells and septic systems, which adds two inspections. The rate is $0.81, or $3,645 on a $450,000 home, the lowest of the four core localities. Our Hanover County guide has price ranges by area.

Getting back to New Jersey

The drive is I-95, then the New Jersey Turnpike. Routing services put Staples Mill Road to Newark Penn Station at about 330 miles and roughly 5 hours 30 minutes without stops. The stretch between Fredericksburg and Washington is the problem, and there are tolls in Maryland, Delaware, and New Jersey. Leave early.

Amtrak’s Northeast Regional runs from Richmond Staples Mill Road (RVR) to Trenton, Metropark, and Newark Penn Station with no transfer. On the timetable effective September 17, 2026, Train 86 leaves Staples Mill at 5:54 a.m. and reaches Trenton at 11:19 a.m., Metropark at 11:43 a.m., and Newark Penn at 11:58 a.m., which is 6 hours 4 minutes. That’s no faster than driving, but you can work the whole way, and Metropark drops you in Middlesex County without touching the Turnpike. Confirm times on Amtrak’s Northeast Regional page before you book.

United is the only airline flying nonstop between RIC and Newark, about 18 flights a week at roughly an hour and a half. Richmond Region Tourism’s nonstop list confirms the route.

How to buy in Richmond from New Jersey

  1. Get pre-approved with a lender licensed in Virginia first. If you’re selling in New Jersey first, ask how they want the sale proceeds documented.
  2. Narrow the map by video. We walk homes and streets on camera, including what listing photos leave out.
  3. Book a two to three day house-hunting trip. We build the tour across two or three areas so you can compare them in person.
  4. Write the offer with an inspection contingency unless you have a specific reason not to. Our Virginia home inspection guide explains what inspectors flag here, including crawl spaces, which most New Jersey basement owners haven’t dealt with.
  5. Close remotely if you need to. Virginia closings are handled by a settlement agent or attorney, and most can arrange a mail-away or remote signing so you don’t need a second trip.
  6. If your timeline is fixed by a job start or a school year, consider new construction. You can search current inventory on our new-home search site. Our comparison of Richmond’s master-planned communities is the place to start. Bring your own agent on the first visit, because the on-site representative works for the builder.
  7. After you move, the Virginia DMV gives you 30 days to title and register your vehicles and 60 days to get a Virginia driver’s license. Your car also needs a Virginia safety inspection sticker. Our first 30 days checklist has the order to do it in.

Frequently asked questions

Is Richmond VA cheaper than New Jersey? Yes, for housing. The Richmond metro single-family median was $455,000 in Q2 2026, compared with $644,500 statewide in New Jersey in August 2026. Property tax on a $450,000 Henrico County home is $3,735 a year, against New Jersey’s $10,570 average bill.

How far is Richmond from New Jersey? Richmond is about 330 miles from Newark, roughly 5 hours 30 minutes by car on I-95 and the New Jersey Turnpike without stops. Amtrak’s Northeast Regional takes about 6 hours to Newark Penn Station, and United flies nonstop from RIC in about an hour and a half.

Are property taxes lower in Virginia than in New Jersey? Yes. The Tax Foundation puts New Jersey’s effective rate at 1.88% of home value and Virginia’s at 0.78%. Around Richmond, rates run from $0.81 per $100 in Hanover County to $1.20 in the City, so a $450,000 home owes $3,645 to $5,400 a year.

Is Virginia income tax higher than New Jersey income tax? For many households, yes. Virginia charges 5.75% on taxable income over $17,000, while New Jersey’s joint brackets stay under 5.75% until $150,000. On $200,000 of taxable income, bracket math gives about $11,243 in Virginia and $8,701 in New Jersey before deductions.

Does Virginia have a car tax? Yes. Virginia localities bill personal property tax on vehicles every year, and New Jersey does not. Henrico County’s rate is $3.35 per $100 of assessed value, so a vehicle assessed at $30,000 works out to $1,005 before any relief the county applies.

Talk through your move with Daniel

We help New Jersey buyers choose an area before they pay for a trip, with video walkthroughs, a custom two to three day tour built around your short list, and introductions to Virginia-licensed lenders and settlement companies that handle remote closings. Daniel Yoon is a Certified New Home Co-Broker (NHCB), Accredited Buyer’s Representative (ABR), and Seller Representative Specialist (SRS) with eXp Realty, and he works in English and Korean. Call or text 804.896.2694, or email daniel.yoon@exprealty.com.

Sources

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