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Moving to Richmond from Philadelphia: Near-Even Prices, No 3.735% Wage Tax, and 242 Miles on I-95 (2026)

Daniel Yoon

Moving to Richmond from Philadelphia saves little on price at the metro level: Richmond’s median sale was $434,050 in Q2 2026 and the Philadelphia metro’s was $425,000 in August 2026. The gap shows up against the suburbs and in the tax code. Montgomery County’s median was $508,750, Chester County’s was $570,000, and city residents stop paying the 3.735% wage tax. Home is 242 miles up I-95.

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.

Philadelphia vs Richmond at a glance

MetricPhiladelphiaRichmond metro
Median sale price$425,000 metro (August 2026); $294,805 city (Redfin, August 2026); $508,750 Montgomery, $570,000 Chester, $405,500 Delaware (August 2026); $528,232 Bucks (Redfin, August 2026)$434,050 all residential, $455,000 single-family (Q2 2026)
Real estate tax on a $450,000 homeCity: $6,299 at 1.3998%, or $4,899 with the $100,000 homestead exemption. Suburban county averages, which vary by source: roughly $5,200 to $6,300 in Chester, Bucks and Montgomery, and $7,500 to $8,900 in Delaware$3,645 Hanover, $3,735 Henrico, $4,005 Chesterfield, $5,400 Richmond City
Top state income tax rate3.07% flat, plus a 3.735% city wage tax for Philadelphia residents (3.425% for non-residents who work in the city)5.75% on taxable income over $17,000, no local wage tax
Mean commute (Census, 2020 to 2024)31.7 minutes Philadelphia city; 27.8 minutes Montgomery County21.7 minutes Richmond City; 22.6 Henrico; 26.4 Chesterfield
Drive242 miles, about 4 hours 27 minutes without traffic, nearly all on I-95
Train and nonstop flightAmtrak Northeast Regional, one seat, about 5 hours between Staples Mill Road and 30th Street Station. American Airlines nonstop RIC to PHL, about 1 hour 20 minutes in the air

Philadelphia metro pricing is from the Bright MLS August 2026 housing report. County medians for Montgomery, Chester, and Delaware come from the Tri-County Suburban REALTORS reports built on Bright MLS data, and the city and Bucks figures come from Redfin’s Philadelphia and Bucks County pages. Richmond numbers are from the Central Virginia Regional MLS Q2 2026 report. Tax rates come from the City of Philadelphia’s Real Estate Tax and Wage Tax pages, the Pennsylvania Department of Revenue, the Tax Foundation’s 2026 state brackets, Henrico County’s approved rates, and our own Richmond property tax rates by county breakdown. Suburban effective rates are Census ACS figures compiled by PropertyTaxByState. Commutes are from Census QuickFacts. Travel figures are from Rome2Rio, the Amtrak Northeast Regional timetable, and FlightConnections.

What a Philadelphia budget buys in Richmond

Start with the city. Redfin put Philadelphia’s median sale at $294,805 in August 2026. That is $80,195 under Richmond’s condo and townhome median of $375,000, so a seller at the Philadelphia median is shopping condos and smaller townhomes here, and our condo and townhome buying guide covers the fees and financing rules that come with them. A median South Philadelphia rowhouse does not convert into a Fan rowhouse. The Fan’s median was $739,618 in August 2026.

The suburbs are a different story. Montgomery County’s $508,750 median sits $53,750 above Richmond’s single-family median of $455,000. In the Midlothian 23114 zip code, Redfin’s August 2026 median was $474,795. In western Henrico’s 23233, which covers much of Short Pump, it was $552,736.

Chester County detached homes sold at a $660,000 median in August 2026. That money reaches Church Hill ($612,205 median) and gets close to the Fan, or it buys a larger lot in Midlothian’s 23113 zip, where the median was $777,164 and plenty sells below it.

Here is a worked example with assumptions you should replace with your own. You sell a Montgomery County home at the $508,750 median. You owe $220,000. We assume selling costs of 7%, which is $35,612.50. Your net is 508,750 minus 220,000 minus 35,612.50, or $253,137.50. Put 20% down on a $455,000 Richmond house ($91,000) and you borrow $364,000 with $162,137.50 left over. Put $200,000 down instead and the loan drops to $255,000. City sellers should know Philadelphia’s realty transfer tax totals 4.578% as of July 2025; your agreement of sale sets who pays what share.

Taxes and recurring costs

Real estate tax is the cleanest win, unless you buy inside Richmond city limits. Philadelphia’s rate is 1.3998% and the city says it has not changed since 2016. On a $450,000 assessment that is 4,500 x 1.3998 = $6,299. With the $100,000 homestead exemption it is 3,500 x 1.3998 = $4,899. Henrico at $0.83 per $100 is 4,500 x 0.83 = $3,735, a difference of $1,164 a year against the homestead figure. Richmond City at $1.20 is $5,400, which is about $500 more than the Philadelphia homestead bill. Buyers set on the Fan or Church Hill should plan for that.

Suburban comparisons are rougher because Pennsylvania bills vary by township and school district. Using county-wide effective rates from Census ACS 2024 five-year data, a $450,000 home runs about $6,075 in Montgomery (1.35%), $5,850 in Chester (1.30%), $5,895 in Bucks (1.31%), and $8,280 in Delaware County (1.84%). Against Delaware County, Henrico saves $4,545 a year. We go line by line in our property tax bill breakdown.

Income tax cuts both ways. A Philadelphia resident with $150,000 in wages pays 3.07% to Pennsylvania ($4,605) and 3.735% to the city ($5,602.50), for $10,207.50. Virginia’s brackets produce $720 on the first $17,000 and 5.75% above it, so $150,000 of taxable income owes 720 + (133,000 x 0.0575) = $8,367.50, before Virginia’s deductions and exemptions reduce it. That is at least $1,840 less. A suburban resident who works in Center City pays 3.07% plus the 3.425% non-resident wage tax, or $9,742.50, and also comes out ahead. A Main Line household working in King of Prussia or Malvern does not. They pay $4,605 to Pennsylvania today and would owe roughly $3,762 more in Virginia, less whatever local earned income tax their township charges now.

Then there is the car tax. Virginia localities bill you every year on the assessed value of each vehicle, and Pennsylvania does not. Henrico’s rate is $3.35 per $100, so a car assessed at $30,000 is 300 x 3.35 = $1,005 before any state relief is applied. It arrives as a separate bill and nobody likes it. Our Richmond cost of living breakdown has the rest of the monthly picture.

What you give up

Transit, first. Philadelphia has the Broad Street Line, the Market-Frankford Line, trolleys, and SEPTA Regional Rail reaching deep into all four suburban counties. Richmond has GRTC buses and one bus rapid transit line, the Pulse, on Broad Street. There is no commuter rail. You will drive to work, to the grocery store, and to the airport, and a two-adult household should plan on two cars, each with its own car tax bill.

Pro sports are gone. No Eagles, Phillies, Sixers, Flyers, or Union. Richmond has the Flying Squirrels in Double-A baseball and the Kickers in soccer, and the nearest NFL and MLB games are in the Washington area, two hours up I-95 on a day without traffic.

The airport shrinks. Richmond International lists about 150 daily flights to domestic destinations. PHL is an American Airlines hub with transatlantic service, and from Richmond nearly every international trip starts with a connection.

Job depth in life sciences is thinner. The Philadelphia region’s pharmaceutical corridor and its hospital and university systems, Penn, Jefferson, CHOP, Temple, have few equivalents here. Richmond’s large employers are VCU Health, Capital One, Dominion Energy, Altria, and CarMax, plus state government. A trailing spouse in biotech research should line up the job before the house.

Summers are longer and stickier than Philadelphia’s, spring tree pollen coats cars yellow for weeks, and an inch of snow closes schools. The food scene is good and much smaller. You will not find a Reading Terminal Market, an Italian Market, or a decent roast pork sandwich.

Where Philadelphia movers should look first

The Fan and the Museum District

For owners in Fairmount, Graduate Hospital, or Queen Village, this is the closest match in housing stock. The Virginia Department of Historic Resources describes the Fan Area Historic District as nearly one hundred city blocks and more than two thousand buildings, mostly townhouses and rowhouses built from the 1880s to 1929. Roughly 70% of Philadelphia’s homes are rowhouses, often 14 to 18 feet wide. Fan houses tend to run wider, with front porches and rear alleys, and street parking works about the way it does in Fairmount. Redfin’s August 2026 median was $739,618, with a Walk Score of 93. The elementary zone for much of the neighborhood is William Fox. Read our Fan District guide before you tour.

Church Hill

Church Hill fits buyers who own in Fishtown, Pennsport, or East Passyunk: older attached and semi-detached houses, Italianate and Greek Revival facades, corner restaurants, and newer infill on the edges. Old and Historic District rules govern exterior changes on many blocks, much like a Philadelphia Historical Commission designation. Redfin’s August 2026 median was $612,205, or $302 per square foot. Richmond City’s $1.20 tax rate applies. Our Church Hill neighborhood guide maps the sub-areas block by block.

Short Pump and Glen Allen

Main Line and King of Prussia households who want a detached house, a garage, and a short drive to retail tend to land in western Henrico. Most homes here were built after 1990, lots are commonly a quarter to a half acre, and I-64 and Route 288 replace the Schuylkill Expressway. The 23233 zip median was $552,736 in August 2026, and Henrico’s $0.83 rate applies. High school zones include Deep Run, Godwin, and Glen Allen; confirm any address with Henrico County Public Schools and review the Virginia Department of Education School Quality Profiles. See our Short Pump guide and Glen Allen guide.

Midlothian

Buyers from Chester County or central Bucks who are used to larger lots, planned communities, and a drive to everything should start in Midlothian, in Chesterfield County. Redfin’s August 2026 medians were $474,795 in 23114 and $777,164 in 23113, which shows how wide the range is within one mailing address. The Powhite Parkway to downtown is a toll road. Chesterfield’s mean commute of 26.4 minutes is the longest in the core metro and still under Montgomery County’s 27.8. High school zones include Midlothian, Cosby, and James River. Our Midlothian neighborhood guide has the subdivisions.

Getting back to Philadelphia

The drive is 242 miles and about 4 hours 27 minutes according to Rome2Rio, which assumes I-95 cooperates. It rarely does between Fredericksburg and the Capital Beltway, or around Baltimore. Friday afternoons northbound are the worst. Many Richmond drivers cross the Potomac on US-301 instead and rejoin I-95 in Delaware.

Amtrak’s Northeast Regional runs from Richmond to 30th Street Station with no change of trains. The timetable dated September 17, 2026 shows weekday train 86 leaving Main Street Station at 5:19 a.m. and Staples Mill Road at 5:54 a.m., arriving in Philadelphia at 10:51 a.m., which is 4 hours 57 minutes from Staples Mill. Evening train 186 leaves Staples Mill at 5:35 p.m. and arrives at 10:30 p.m. Wanderu lists the fastest trip at 4 hours 44 minutes and the average at 5 hours 25 minutes. Staples Mill is in Henrico with a large parking lot. Main Street is downtown.

American Airlines is the only carrier flying RIC to PHL nonstop. Schedule trackers show at least three flights most days on regional jets, 198 miles and about 1 hour 16 to 1 hour 22 minutes gate to gate, per FlightConnections and FlightsFrom. The RIC flight board showed American arrivals from and departures to Philadelphia when we checked on September 17, 2026. Door to door, flying barely beats driving.

How to buy in Richmond from Philadelphia

  1. Get pre-approved with a lender licensed in Virginia before you look at anything. With 1.8 months of supply and sellers receiving 100.9% of original list price in Q2 2026, a letter from a lender the listing agent can reach by phone matters. Our competitive offer guide explains the terms that win here.
  2. Narrow by tax jurisdiction and commute first, then by house. We send live video walkthroughs of each candidate, including the street, the parking, and the crawl space access, so you can cut the list from home.
  3. Book a 2 to 3 day trip. The 5:54 a.m. train or a morning flight gets you here by lunch. We tour 8 to 12 homes across two or three areas and drive the commute at rush hour.
  4. Write the offer with a home inspection contingency. Inspection periods of 7 to 10 days are common in Richmond contracts, and older Fan and Church Hill houses need a careful look at roofs, chimneys, and crawl spaces. Our Virginia home inspection guide lists what inspectors check.
  5. Close remotely if you need to. Virginia closings are handled by settlement agents and attorneys, and most offer mail-away or remote signing so you do not have to make a second trip. Budget with our Virginia closing costs explainer.
  6. If your Pennsylvania sale has a fixed date, consider new construction. Builders quote delivery dates months out, which lets you schedule both closings. Compare options in our master-planned communities comparison and search current inventory on our new-home search.
  7. After the move, the Virginia DMV gives you 30 days to title and register your vehicles and 60 days to get a Virginia driver’s license. Registering the car is what starts the county car tax bill.

Frequently asked questions

Is Richmond VA cheaper than Philadelphia? Not at the metro level. Richmond’s median sale was $434,050 in Q2 2026 and the Philadelphia metro’s was $425,000 in August 2026. Richmond is cheaper than Montgomery County ($508,750) and Chester County ($570,000), and more expensive than Philadelphia city, where Redfin’s August 2026 median was $294,805. Taxes are where most movers save.

How far is Richmond from Philadelphia? Richmond is 242 miles from Philadelphia by road, about 4 hours 27 minutes on I-95 without traffic, and traffic near Washington and Baltimore often adds an hour. Amtrak takes about 5 hours with no transfer. American Airlines flies RIC to PHL nonstop in roughly 1 hour 20 minutes.

Is there a direct train from Philadelphia to Richmond VA? Yes. Amtrak’s Northeast Regional runs between 30th Street Station and both Richmond stations, Staples Mill Road and Main Street, with no change of trains. The September 2026 timetable shows a 4 hour 57 minute weekday morning trip from Staples Mill, and Wanderu lists an average of 5 hours 25 minutes.

Does Richmond have a city wage tax like Philadelphia? No. Philadelphia residents pay a 3.735% wage tax on top of Pennsylvania’s 3.07% income tax, 6.805% combined. Richmond and its surrounding counties levy no local wage tax. Virginia’s top state rate is 5.75% on taxable income over $17,000, so most city residents pay less here.

Are property taxes lower in Richmond than in Philadelphia? In the counties, yes. A $450,000 home costs $3,735 a year in Henrico and $4,005 in Chesterfield, against $4,899 in Philadelphia with the homestead exemption and roughly $7,500 to $8,900 at Delaware County’s average effective rate. Richmond City, at $5,400, runs about $500 higher than the Philadelphia homestead bill. Virginia also taxes vehicles annually.

Plan your move with a Richmond buyer’s agent

We help Philadelphia-area buyers choose between Richmond City, Henrico, Chesterfield, and Hanover before they spend money on travel. That means video walkthroughs of specific homes, a custom 2 to 3 day tour built around your budget and commute, and introductions to Virginia-licensed lenders and settlement agents who handle remote closings. Daniel Yoon holds the NHCB, ABR, and SRS designations with eXp Realty and works in English and Korean. Start with our Richmond relocation guide, then call or text 804.896.2694 or email daniel.yoon@exprealty.com.

Sources

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