Richmond, KY vs. Georgetown, KY: Cost of Living Comparison (2025)
Moving from Richmond to Georgetown could save a typical family $400 per month on housing alone in 2025. This article provides a detailed cost of living comparison between Richmond and Georgetown, perfect for those relocating, choosing between job offers, or curious how far their budget will go in each Kentucky city.
1. Housing Costs
Housing is often the biggest factor in cost of living. Here’s how typical rent and mortgage costs compare for common housing types in Richmond vs Georgetown:
| Housing Type | Richmond | Georgetown |
|---|---|---|
| 2BR Apartment (Rent) | $950 | $1,150 |
| 3BR House (Mortgage) | $1,400 | $1,650 |
🏆 Winner: Richmond. Expect to pay around 20% less for housing in Richmond compared to Georgetown.
2. Utilities and Energy Costs
Utility bills are a sneaky expense that can add up. In Richmond, expect to pay around $180 per month for electricity, water, and gas for a 2BR apartment. Georgetown utility costs average closer to $210 monthly.
Both cities see higher energy usage in the humid summers. Georgetown offers an off-peak discount program to help manage AC costs.
🏆 Winner: Richmond has the edge on utility costs, averaging $30 less per month than Georgetown.
3. Groceries and Daily Expenses
Groceries and everyday items cost about the same in Richmond and Georgetown. A gallon of milk runs $3.50 in both cities, with bread and eggs also nearly identical.
Eating out is reasonable in both places. A meal for two at a mid-range restaurant is around $50. Richmond has slightly lower fast food prices ($8 vs $9 for a combo meal).
🏆 Winner: Tie. Expect comparable grocery and dining out costs in Richmond and Georgetown.
4. Taxes and Fees
Property taxes are 0.8% in Richmond and 1.1% in Georgetown for a home assessed at $200K. That’s a difference of $50 per month.
In Richmond, monthly HOA fees often include extras like landscaping and trash. Georgetown has slightly higher utility fees but offers more public services.
🏆 Winner: Richmond. Lower property taxes give it the advantage for most homeowners.
5. Cost Summary
| Expense | Richmond | Georgetown |
|---|---|---|
| Housing | $950 | $1,150 |
| Utilities | $180 | $210 |
| Groceries | $350 | $350 |
| Transportation | $60 | $55 |
| Taxes | $130 | $180 |
| Misc | $200 | $200 |
| Estimated Monthly Total | $1,870 | $2,145 |
6. Lifestyle Fit
Cost is just one factor in choosing a place to live. Consider other tradeoffs:
- Richmond offers a compact, walkable downtown. Georgetown is more spread out.
- Georgetown has more green space and parks. Richmond is a bit more urban.
- Summer temps average 3°F cooler in Richmond than Georgetown.
- Georgetown’s population is growing 10% faster, so housing costs may rise.
7. Frequently Asked Questions
- Is Richmond more affordable than Georgetown? Yes, Richmond has lower housing and utility costs, making it around 15% cheaper overall.
- Which city has lower rent? Typical rent is about $200 less per month in Richmond vs Georgetown for a 2BR apartment.
- Where is it cheaper to buy a home? Richmond’s lower property taxes and home prices make it more affordable for buyers. Use this cost of living guide for Richmond to estimate your housing budget.
8. Conclusion
Richmond comes out ahead of Georgetown on cost of living in 2025, especially for housing. A household moving from Georgetown to Richmond might save $400 per month on living costs alone.
However, Georgetown may fit those wanting more space, newer housing, and proximity to Lexington. Compare cost of living breakdowns for other Kentucky cities to find your ideal budget fit.