Wall Street Journal says Richmond offers lower cost of living

A recent article in the Wall Street Journal’s Real Estate Journal today stated that Richmond, VA market is giving the D.C.- New York corridor a run for its money. "The area’s relatively affordable housing and lower cost of living has helped attract companies like packaging giant MeadWestvaco Corp., which recently announced plans to relocate its headquarters to the area from Connecticut, bringing an estimated 400 new jobs and giving the Virginia capital bragging rights to a seventh Fortune 500 company headquarters."

According to the article, Richmond’s third quarter median home price was $214,000, a bargain compared with Washington, D.C. where median home price was $441,400 for the third quarter of 2005.

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