Average Cost of Living in Virginia: $42,757 per year Good news for those drawn to the land of America’s forefathers: All told, Virginia’s cost of living is relatively reasonable. While it’s not one of the cheapest states in the nation, it’s not one of the most expensive either.
Does it cost a lot to live in Virginia?
Virginia is one of the most expensive states in America, according to the Economic Policy Institute. The cheapest metro area to live in is Richmond at about $83,000 a year, while you need to earn over $110,000 a year to live in many parts of Fairfax and Loudon Counties.
How much money does it cost to live in Virginia?
An amount below 100 means Virginia is cheaper than the US average. A cost of living index above 100 means Virginia, Virginia is more expensive.
Virginia cost of living is 103.7.
| COST OF LIVING | Virginia | United States |
|---|---|---|
| Housing | 111.8 | 100 |
| Median Home Cost | $329,200 | $291,700 |
| Utilities | 99.3 | 100 |
| Transportation | 99.4 | 100 |
Where does Virginia rank in cost of living?
31
In general, the most expensive areas to live were Hawaii, Alaska, the Northeast, and the West Coast. The least expensive areas were the Midwest and Southern states.
2022 First Quarter Cost of Living.
| Rank | 1 | 31 |
|---|---|---|
| State | Mississippi | Virginia |
| Index | 83.1 | 102.7 |
| Grocery | 92.3 | 95.4 |
| Housing | 63.8 | 109.1 |
Why is rent so expensive in Virginia?
There are many factors as to why some are seeing steep increases right now and almost all are tied to the pandemic. Virginia Apartment Management Association CEO Patrick McCloud cites low vacancy, inflation, low supply and rental assistance programs.
Is rent expensive in Virginia?
Virginia isn’t the cheapest place to live in America, but it’s better than most of California and the most expensive states in the country. In terms of renting, the average rent price for a one-bedroom apartment in Virginia is $1,791.
What is a good salary in Virginia?
As of Jul 31, 2022, the average annual pay for the Above Average jobs category in Virginia is $54,767 a year. Just in case you need a simple salary calculator, that works out to be approximately $26.33 an hour. This is the equivalent of $1,053/week or $4,564/month.
Which state has lowest cost of living?
Mississippi
Mississippi. Mississippi has the lowest cost of living in the United States. With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi’s housing costs are the lowest in the nation.
Why would you move to Virginia?
In 2021, people moved to Virginia for many reasons: family (35.8 %), lifestyle (18.9%), retirement (18.9%), jobs (15.1%), and health (7.5%). The state was also the 8th most popular place people moved to for health reasons. The state’s natural beauty and place in our country’s history attracts a lot of people.
Is Virginia a good place to live?
With a low crime rate, great quality of healthcare, and a strong economy, it is no surprise that Virginia is one of the best places to live. Surrounded by history and living in the heart of where America began is pretty cool.
What are the 10 most expensive states to live in?
Here are the 10 states with the highest cost index:
- Hawaii (193.3)
- New York (148.2)
- California (142.2)
- Massachusetts (135)
- Oregon (130.1)
- Alaska (127.1)
- Maryland (124)
- Connecticut (121.6)
Is it cheaper to live in Virginia or Florida?
Virginia is 10.2% more expensive than Florida.
What state has highest cost of living?
Below is a list of the five most expensive states to live in the U.S. according to the study:
- Hawaii.
- California.
- Massachusetts.
- New Jersey.
- Connecticut.
How much do utilities cost in Virginia?
Average Utility Costs in Virginia: $392 per month
Here’s how much it costs to get your household up and running in Virginia, on average.
Is it cheaper to live in Maryland or Virginia?
Maryland is 3.7% more expensive than Virginia.
Why are apartments so expensive in Virginia?
Virginia Housing Costs
Due to its proximity to the nation’s capital, the Virginia rental market is relatively expensive.
Where can I live for $500 a month in USA?
Without further ado – and in no particular order – here’s what $500 per month can get you in ten affordable U.S. cities:
- Greenville, OH. Listing: Wayne Crossing.
- Wichita, KS. Listing: Eagle Creek.
- Lawton, OK. Listing: Sheridan Square Apartments.
- Amarillo, TX.
- Indianapolis, IN.
- Searcy, AR.
- Shreveport, LA.
- Jackson, MS.
What is the average electric bill in Virginia?
Electricity bills in Virginia
In Virginia, the average monthly electricity bill for residential consumers is $159/month, which is calculated by multiplying the average monthly consumption by the average rate for electricity: 1,279 kWh * 12 ¢/kWh.
Is it cheaper to live in VA or NC?
North Carolina is 11.0% cheaper than Virginia.
What is a good hourly wage in Virginia?
$13.86 is the 25th percentile. Wages below this are outliers. $38.99 is the 90th percentile. Wages above this are outliers.
What are Top 10 Highest Paying Cities for Hourly Rate Jobs in Virginia.
| City | Virginia Beach |
|---|---|
| Annual Salary | $52,659 |
| Monthly Pay | $4,388 |
| Weekly Pay | $1,013 |
| Hourly Wage | $25.32 |
How much is the minimum wage in Virginia?
The state’s minimum wage was $7.25 prior to May 1, 2021. This is in line with the federal minimum wage of $7.25, which has not changed since 2009. The Bureau of Labor Statistics released two consumer price index reports in late 2021 that included parts of Virginia. One included the Washington metropolitan area.