Physician Salary in Richmond, VA
Physicians in Richmond, VA earn a median of $218,000/year, ranging from $164,000 (25th percentile) to $356,000 (90th percentile). After Virginia state taxes (5.75%) and cost-of-living adjustments (COL index 101), this is equivalent to $215,842 in purchasing power vs the US average.
On the ground in Richmond, VA
VCU Health and Bon Secours Mercy Health dominate physician hiring in Richmond, alongside smaller independent practices throughout the metro. The city's cost of living tracks near the national average, though housing varies sharply by neighborhood; a 1BR in the Fan District runs around $1,400 to $1,600 per month, while options in Fan or near the Medical College of Virginia campus offer more modest rents. Most physicians here rely on personal vehicles for commuting to hospital systems and satellite clinics scattered across the Richmond metro, though the downtown core has grown more walkable in recent years. Virginia's flat 5.75% state income tax is straightforward compared to higher-tax states, which matters when comparing net take-home across regions. The region's slower pace compared to larger Northeast or West Coast metros appeals to physicians seeking a less frenetic environment without sacrificing access to modern facilities or professional development.
1Salary Distribution in Richmond, VA
2Estimated Take-Home & Purchasing Power
* Estimates only. Does not include federal income tax, 401k, health insurance, or local taxes. Use the Salary Calculator for a detailed breakdown.
How Does Richmond, VA Compare?
| City | Median | COL Index | COL-Adjusted |
|---|---|---|---|
| Richmond, VA (current) | $218,000 | 101 | $215,842 |
| San Francisco, CA | $260,000 | 186 | $139,785 |
| New York, NY | $250,000 | 187 | $133,690 |
| Seattle, WA | $248,000 | 162 | $153,086 |
| Boston, MA | $252,000 | 162 | $155,556 |
| Austin, TX | $225,000 | 124 | $181,452 |
4Frequently Asked Questions
What is the average Physician salary in Richmond, VA?
The median Physician salary in Richmond, VA is $218,000 per year as of 2026 BLS OEWS data. The 25th percentile is $164,000 and the 90th percentile is $356,000.
Is Richmond, VA a good place to work as a Physician?
Richmond, VA has a cost of living index of 101 (US average = 100). After adjusting for cost of living, a $218,000 Physician salary in Richmond, VA is equivalent to $215,842 in purchasing power compared to the US average.
What is the cost of living adjustment for Richmond, VA?
Richmond, VA has a cost of living index of 101, meaning it is 1% more expensive than the US average. The state income tax rate in Virginia is approximately 5.75%.
What is the Physician salary range in Richmond, VA?
In Richmond, VA, Physicians earn between $164,000 (25th percentile) and $356,000 (90th percentile), with a median of $218,000 per year.
How many Physician jobs are there in Richmond, VA?
According to BLS OEWS data, there are approximately 6,000 Physician positions in the Richmond, VA metropolitan area.
What do Physicians earn in Richmond, VA?
Based on BLS OEWS 2026 data, Physicians in Richmond, VA earn a median annual wage of $218,000. The middle 50% earn between $164,000 and $286,000. The top 10% earn more than $356,000. There are approximately 6,000 Physicians employed in the Richmond, VA metro area, with annual job growth estimated at 2.2%.
Is Richmond, VA a good place for a Physician?
Richmond, VA has a cost of living index of 101 (US average = 100), making it 1% more expensive than the national average. After adjusting for cost of living, a Physician in Richmond, VA earning $218,000has the equivalent purchasing power of $215,842 relative to the US median. Virginia has a state income tax rate of approximately 5.75%.
What is the cost of living adjustment for Richmond, VA?
Richmond, VA's cost of living index is 101, based on composite data including housing, food, transportation, healthcare, and utilities. This means that $218,000 in Richmond, VAhas the same purchasing power as $215,842 in a city at exactly the US average cost of living. Housing is typically the largest driver of cost of living differences between metros.
Compare Richmond, VA with Another City
See a detailed side-by-side comparison of salary, taxes, and purchasing power.
5Should You Work as a Physician in Richmond, VA?
The headline median of $218,000 is only part of the picture. Richmond, VA's cost of living index is 101 (US average = 100), meaning a dollar here buys roughly 99¢ of what it buys in an average US city. The $218,000 salary effectively purchases $215,842 worth of goods and services at national-average prices.
Housing is the single biggest driver of cost-of-living differences between metros. In Richmond, VA, housing costs fall closer to the national average of 25–30% of gross income, leaving more room in the budget for savings, transportation, and discretionary spending. For a $218,000 salary, that translates to roughly $61,040/year on housing alone.
State tax plays a meaningful but smaller role. Virginia levies a state income tax of approximately 5.75%, which reduces take-home by roughly $12,535 per year on this salary. States with zero income tax (Texas, Florida, Washington, Tennessee, Nevada) offer a structural advantage, but often offset it with higher sales tax or property tax. After state tax and approximate federal FICA (~7.6%), the estimated take-home is $189,850. This excludes federal income tax, which varies by filing status and deductions.
For comparison, here are nearby alternatives: San Francisco, CA ($260,000 median, COL 186); New York, NY ($250,000 median, COL 187); Seattle, WA ($248,000 median, COL 162). If you're optimizing for purchasing power, compare the COL-adjusted column in the table above and pick the highest number. If you're optimizing for career progression, weight total employment and yearly growth in the role — larger markets offer more lateral moves and promotion velocity, even when nominal pay is lower.
The 2.2% year-over-year growth rate for Physicians in Richmond, VA is a leading indicator of market health. A mature, slower-growth market — often higher-paid in absolute terms but with fewer open roles and slower lateral moves. For side-by-side comparisons, try the full city ranking for Physicians or the Virginia state overview.
Data source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) Program. All figures are approximate annual estimates based on the most recent available BLS data. Actual salaries may vary based on experience, education, employer size, and specific role. Cost-of-living data represents composite indices from publicly available metropolitan area data.