The cost of living in Richmond is cheaper than the national average, per a new analysis, Alex Fitzpatrick and Kavya Beheraj report.

Why it matters: Richmond's comparatively low cost of living can translate into real savings — more than $115,000 a year — compared to the national average, according to the Greater Richmond Partnership, the metro area's economic development agency.

Driving the news: Each quarter, the national nonprofit Council for Community and Economic Research assembles a cost-of-living index designed to measure "regional differences in the cost of consumer goods and services."

• The result: a snapshot in time useful for comparing relative costs across cities.

How it works: An index value of 100 represents the national average cost of living across 269 cities.

• If a city has a value over 100, its cost of living is higher than average. Under 100 means lower than average.

By the numbers: Richmond's cost-of-living index value, as of the third quarter of 2023 is 94.9.

• Relatively speaking, Richmond's most expensive category was groceries (100.4), and its least expensive was housing (84.1).
• (It's a shocker, we know.)

Worth noting: The Council's index covers the city of Richmond only, not the metro area.

The big picture: Stuff tends to be more expensive in U.S. cities along the Atlantic and Pacific coasts as compared to inland areas.

Among cities with more than 100,000 residents, Honolulu (179.2), San Jose (171.3) and San Francisco (169.5) have the country's highest relative cost of living as of Q3 2023.

• Residents of McAllen, Texas (80.2) and Augusta, Georgia (82.8) are enjoying the lowest.

The bottom line: Looking to cut costs? Consider a move — especially if you're still working remotely and can carry a New York salary to, say, McAllen.

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The city is moving forward with plans to add more shelter beds for Richmond's residents experiencing homelessness.

What's happening: The City Council voted this week to open a new year-round shelter for 50 families on Second Street in the old Richmond Hostel.

• They also approved an expansion of the existing cold weather shelter on Chamberlayne Avenue to 150 beds, which officials say will open Dec. 1.

Between the lines: Officials are hoping for a smoother winter than last year, when the city tried but failed to get its cold weather shelters open before temps dropped.

What we're watching: The expansion of the Chamberlayne Avenue facility, operated by the Salvation Army, drew opposition from some nearby business owners.

• They have threatened to take legal action to stop the project, per Richmond BizSense.

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📌 City Council is accepting applications from 9th District residents interested in being appointed to serve out the final year of Councilman Mike Jones's term. (RVA.gov)

• Jones is resigning at the end of the year following his election to the General Assembly.

🔎 State auditors are set to review VCU Health's leadership structure in light of the failed downtown development that cost the school more than $73 million. (BizSense)

⚖️ State Sen. Ghazala Hashmi, a Democrat from Chesterfield, is facing a lawsuit alleging she doesn't live in her district, but political experts say courts are unlikely to overturn election results. (WTVR)

🏛️ Rep. Jen Kiggans is the only Virginia Republican who voted for legislation yesterday pushing the government shutdown deadline to next year. Democrats in the state congressional delegation unanimously supported the measure. (House.gov)

🎸 Oliver Anthony, the Farmville singer of "Rich Men North of Richmond" fame, is playing a show just north of Richmond in Doswell. (Release)

Richmond has a new underground space for drinking and local art, in all its forms.

Driving the news: The Basement — a nonprofit performance venue, art gallery and speakeasy — opened this month in the former TheatreLab at 300 E. Broad St. in the Arts District.

Why it matters: Rooftops get all the love and attention, but subterranean nightlife is a whole lot cooler — literally.

Zoom in: A trio of local women — Mercedes Benson, McLean Fletcher and Brianne Oltermann White — opened The Basement to breathe new life into the stage that for more than a decade served as a home for performing arts groups, Style Weekly reports.

In its latest iteration, the venue will still host plays in the theater, plus live music, art openings, drawing and acting classes, burlesque shows and private events, according to its calendar.

• Plus, local artists will keep 100% of sales from their events, per Style.

Meanwhile, the bar and lounge — which is open to the public every Friday and Saturday — will hopefully draw in a whole new audience for local artists, Benson told Style.

If you go: Happy hour starts this weekend.

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A time capsule buried outside the new General Assembly building this week is stuffed with eclectic lawmaking keepsakes.

What's happening: The box will remain buried indefinitely, officials told the Times-Dispatch.

Here's some of what's inside, per House Clerk Paul Nardo's office:

🧷 Fourteen pins worn by lawmakers, pages and other officials in the Capitol.

🎄 Three Christmas ornaments commemorating the Executive Mansion.

📰 A copy of a Washington Post story about longtime Times-Dispatch photographer Bob Brown.

🐁 One wired computer mouse. (The inventory helpfully describes it as a "tan oval object with wire attached, this was the state of technology during initial use of computers in the General Assembly Building.")

🧪 One sealed Flow Flex COVID-19 Antigen Home Test.

😷 One sealed face mask.

The bottom line: What a time to be alive.