Is Richmond, VA affordable on a $3,075,000 salary?
YES
On $3,075,000/yr, the typical $397,705 home in Richmond, VA needs $117,454/yr ($2,741/mo). Your gap: +$2,957,546 — housing would be 1.1% of your gross income.
The math
397,705 price − 10% down (39,771) = 357,934 loan
30-yr fixed at 6.49% on 357,934 = 2,260/mo principal+interest
+ 481/mo est. taxes+insurance (1.45%/yr of value — national placeholder)
2,741/mo PITI ÷ 0.28 = 9,788/mo → 117,454/yr required
against Zillow ZHVI 2026-05 and the 6.49% FRED 30-yr rate (2026-06-25).
What salary WOULD clear Richmond, VA?
You need about $117,454/yr for the typical home. On $3,075,000 you already clear it by $2,957,546.