Economists Salary in Richmond, VA
In Richmond, VA, economists earn $118,610 at the median, or about $57.02 an hour. Entry-level positions start around $69K. BLS does not publish top-end wages for this occupation because they exceed the reportable ceiling. Adjusted for local prices (RPP 97.86), that's roughly $121,204 in purchasing power. Rent on a 2-bedroom averages $1,655/month, or 22.1% of estimated take-home pay.
So what does $119K get you in Richmond?
Groceries, utilities, transportation, and healthcare scaled from national averages by Richmond’s Regional Price Parity (97.86). Rent from HUD Fair Market Rents. Taxes estimated for single filer, standard deduction. * Healthcare is the employee-paid share only (premiums + out-of-pocket). Actual costs vary by coverage type: employer-sponsored, ACA marketplace, or uninsured.
About economists
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Compensation breakdown
Annual earnings by percentile, Richmond, VA
Entry-level economists (10th percentile) start around $69K. Mid-career wages sit at $119K. Top earners bring in N/A or more.
Economists pay across states
Median income ranked highest to lowest, compared to the national figure
| State | Median salary | vs. national | Employment |
|---|---|---|---|
| District of Columbia | $163K | +41% | 3,010 |
| Virginia | $148K | +28% | 970 |
| New York | $142K | +23% | 870 |
| Maryland | $138K | +19% | 920 |
| Georgia | $127K | +10% | 340 |
| Ohio | $118K | +2% | 130 |
| Washington | $116K | +1% | 470 |
| Missouri | $116K | +0% | 210 |
| Kansas | $115K | -0% | 110 |
| Pennsylvania | $113K | -2% | 710 |
| Illinois | $113K | -2% | 590 |
| North Carolina | $112K | -3% | 250 |
| Oregon | $112K | -3% | 270 |
| Tennessee | $110K | -4% | N/A |
| Alaska | $109K | -6% | N/A |
| Minnesota | $107K | -7% | 210 |
| Texas | $106K | -8% | 620 |
| Alabama | $103K | -10% | 40 |
| Connecticut | $103K | -11% | 200 |
| Massachusetts | $103K | -11% | 770 |
| New Jersey | $102K | -11% | 110 |
| California | $101K | -13% | 1,400 |
| Arizona | $96K | -17% | N/A |
| Montana | $96K | -17% | 70 |
| Indiana | $96K | -17% | 60 |
| Michigan | $95K | -18% | 280 |
| Iowa | $93K | -20% | 70 |
| Florida | $89K | -23% | 460 |
| Louisiana | $89K | -23% | 70 |
| Nevada | $85K | -27% | 90 |
| New Mexico | $82K | -29% | N/A |
| Oklahoma | $82K | -29% | N/A |
| Hawaii | $82K | -29% | 60 |
| Maine | $81K | -30% | 60 |
| Idaho | $79K | -32% | 110 |
| Wisconsin | $77K | -33% | 330 |
| Nebraska | $67K | -42% | 90 |
| Kentucky | $65K | -43% | 160 |
| South Carolina | $52K | -55% | 660 |
Showing 1–10 of 39 states
BLS does not publish data for every state when sample sizes are too small
Track economists salary changes
BLS updates this data quarterly. We'll email you when Richmond numbers change.
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Frequently asked questions
How much do economists make in Richmond, VA?
The median is $118,610 a year, that works out to about $57 an hour. But the range is wide: entry-level workers start around $68,590, and experienced economists can clear N/A. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $119K enough to live in Richmond?
On that salary, you'd take home roughly $7,127/month after taxes. A 2-bedroom here rents for about $1,655/month, which eats 23.2% of your paycheck. That's under the 30% guideline most financial planners use, so the numbers work.
How far does a economists salary go in Richmond?
Richmond has a Regional Price Parity of 97.86 (100 is the national average). That's below average, your money stretches further here than the raw salary number suggests. After cost-of-living adjustment, the median economists salary is worth about $121,204 in national-average purchasing power.
Where do economists get paid the most?
The table above ranks every state by median pay for this role. Keep in mind that the highest-paying states tend to have the highest costs of living, so the top salary doesn't always mean the most money in your pocket.