Evaluate insurance applications and determine coverage terms and premiums. Median salary in Richmond: $80K/year. Data from BLS, O*NET, and H-1B disclosures.
Figures represent annual base salary in Richmond, Virginia. Reviewed by SalaryOptics Editorial · How we calculate this →
Analysis derived from the salary, COL, tax, and labor-market figures above — specific to this role and city.
Insurance Underwriters in Richmond earn approximately 3% higher than the US national median for this role — a $2,000 premium on annual base salary. This reflects Richmond's position as a higher-cost labor market where employers must match local wage norms.
Adjusted for Richmond's cost-of-living index (98), the median Insurance Underwriter salary buys the equivalent of $81,633 in a US-average-cost city. That's $3,633 more purchasing power than the national median — a meaningful real-wage advantage.
Average 1-bedroom rent in Richmond ($1,350/mo) consumes approximately 31% of an after-tax median Insurance Underwriter salary. Financial planners typically recommend keeping housing under 30% of take-home — a salary at the 75th percentile ($104K) brings that ratio into a more comfortable range here.
Based on BLS 2022–2032 Employment Projections and WEF Future of Jobs Report 2026. At current growth rates, median salary reaches $80K by 2030.
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The median Insurance Underwriter salary in Richmond, VA is $80,000 per year as of Q1 2026. This figure represents the midpoint of all reported compensation for this role in the Richmond–VA metropolitan area, based on data from the Bureau of Labor Statistics Occupational Employment Statistics, H-1B visa disclosures from the Department of Labor, and O*NET occupational data.
Entry-level Insurance Underwriters in Richmond with 0–2 years of experience typically earn between $59,000 and $80,000 annually. Mid-career professionals with 3–7 years command $80,000 to $104,000, while senior-level practitioners with 8+ years of experience regularly earn $104,000 to $135,000 or more.
Richmond has a cost of living index of 98 compared to the US national average of 100. This means your salary goes approximately 2% further in Richmond than the national average. Virginia has a 5.75% state income tax rate.
Bachelor's in Finance or Business; CPCU designation. 50% of these roles offer some remote flexibility.