The Richmond Region
Greater Richmond includes the city, as well as the counties of Chesterfield, Henrico and Hanover. The Richmond Metropolitan Statistical Area, or MSA, with a population of nearly 1.3 million, includes greater Richmond, plus the cities of Petersburg, Colonial Heights and Hopewell, and the counties of Amelia, Caroline, Charles City, Cumberland, Dinwiddie, Goochland, King and Queen, King William, Louisa, New Kent, Powhatan, Prince George, and Sussex.
Cost of Housing
Average new home prices in June 2014 and percentage change since the same month in 2013
- Caroline............$211,803, up $596 from $211,207
- Chesterfield......$350,686, up 8 percent from $323,562
- Goochland........$480,441, up 5 percent from $455,447
- Hanover............$313,795, up 3 percent from $304,079
- Henrico.............$399,481, up 10 percent from $362,466
- New Kent..........$298,771, up 6 percent from $282,914
- Powhatan..........$393,724, up 17 percent from $337,625
- Richmond (city)...$243,439, up 1 percent from $241,529
- Source: Integra Realty Resources — Richmond
Richmond's Report Card: Virginia and the Richmond region have earned these recent accolades:
- Thumbtack.com gives Richmond an “A” for overall small-business friendliness, making it the 10th-best U.S. city on its list. (June 2014)
- Richmond named top “Affordable Summer Driving Destination” by CBS This Morning. (May 2014)
- Buzzfeed.com ranks Richmond No. 4 among “Cities you should explore on 2 wheels.” (April 2014)
- Richmond named one of the country’s 10 hottest housing markets, by CNN Money. (January 2014)
- ACSM’s American Fitness Index lists Richmond among the top 20 fittest cities in America. (January 2014)
Sales Tax
5.3 percent (among the lowest in the nation)
Corporate Income Tax
6 percent (unchanged since 1972)
Fortune 500 Members
These six Richmond-based companies were on the 2013 Fortune 500 list: Altria Group Inc. (No. 161, tobacco products), Dominion Resources (No. 212, electric and gas utility), CarMax Inc. (No. 240, automotive retailer), Genworth Financial (No. 291, insurance), Owens & Minor (No. 303, medical products distributor), MeadWestvaco (No. 457, packaging). These four Richmond firms made the 2014 Fortune 1000 list: Markel Corp. (No. 570, specialty insurer), Brink’s Inc. (No. 596, security services), Universal Corp. (No. 853, tobacco leaf dealer), NewMarket Corp. (No. 894, fuel additives maker).
Source: Greater Richmond Partnership, May 2014
Top 50: Richmond's Largest Private Employers
Together, these companies employ the equivalent of 106,202 full-time employees (FTEs), a 4.7 percent increase over last year. In 2013, the Richmond area's largest employers retained 101,406 full-time workers.
