Statistics About The Average Cost Of Living In Virginia

In this post, we will explore the average cost of living in Virginia based on a range of statistics. From state income tax rates to grocery expenses, housing costs, and various other factors, we will provide a comprehensive overview of the financial landscape in the state. Whether you’re considering a move to Virginia or simply curious about the economic realities for residents, this analysis will offer valuable insights into the expenses you can expect to encounter in different regions of the state.

Statistic 1

"The state income tax in Virginia ranges from 2% to 5.75% depending on income."

Statistic 2

"The average cost of groceries in Virginia is approximately 3% higher than the national average."

Statistic 3

"The cost of living in Northern Virginia is significantly higher than in Southern Virginia."

Statistic 4

"Healthcare costs in Virginia are about 5% lower than the national average."

Statistic 5

"The average cost of dining out in Virginia is $15 per person."

Statistic 6

"The average cost of gasoline in Virginia is around $2.50 per gallon."

Statistic 7

"Childcare costs in Virginia average around $1,200 per month for full-time care."

Statistic 8

"The average rent for a one-bedroom apartment in Virginia is around $1,200 per month."

Statistic 9

"Transportation costs in Virginia are estimated at $5,113 annually per household."

Statistic 10

"The average cost of cable TV in Virginia is about $85 per month."

Statistic 11

"The overall cost of living in Virginia is approximately 7% higher than the national average."

Statistic 12

"Virginia residents spend an average of $250 per month on clothing."

Statistic 13

"College tuition at in-state public universities in Virginia averages $13,000 annually."

Statistic 14

"The average monthly cost of insurance for a vehicle in Virginia is $80."

Statistic 15

"Virginia has a 1.5% average increase in cost of living annually."

Statistic 16

"Virginia's average internet bill is approximately $60 per month."

Statistic 17

"Property tax rates in Virginia average 0.80% of home value."

Statistic 18

"Utilities in Virginia typically cost residents around $150 per month."

Statistic 19

"The median home cost in Virginia is $273,100."

Statistic 20

"The sales tax rate in Virginia is 5.3%."

In conclusion, the cost of living in Virginia varies significantly across different categories. While income tax rates and property taxes are moderate, groceries and dining out expenses are slightly above the national average. Housing costs, including rent and home prices, tend to be on the higher side, particularly in Northern Virginia. On the other hand, healthcare costs and gasoline prices are relatively lower compared to the national average. Overall, the cost of living in Virginia is slightly higher than the national average, with residents spending a significant portion of their income on housing, childcare, and transportation expenses.