Cost of living in Virginia: Housing costs. Transportation expenses. Food prices. Healthcare costs. Utility bills. Childcare expenses. Education costs. Entertainment prices. Tax rates. Insurance costs.
Housing costs
In Virginia, housing costs are notably high, especially in Northern Virginia, with a median home price of $463,600 as of May 2024, and cities like Alexandria and Arlington seeing prices as high as $640,000 and $650,000, respectively. The statewide average rent is also elevated, particularly in the D.C. Metro Area, where it can reach up to $1,952 per month.
Transportation expenses
In Virginia, average annual transportation costs for a single individual are approximately $9,985, while larger families can expect to pay around $16,749. Gas prices are lower than the national average, but having a vehicle is often necessary due to limited public transportation, and road conditions can add significant maintenance and congestion costs. For more detailed information about the cost of living in the state, you can refer to Apartment List's insights on the Cost of Living in Virginia. This comprehensive overview provides a deeper understanding of the expenses and considerations residents face in Virginia.
Food prices
Food prices in Virginia are generally close to the national average, with some items like bread, local cheese, and milk being slightly cheaper, while others like boneless chicken breast are more expensive. However, recent inflation has increased food expenses, with the average household in Virginia spending $128 more on food per month compared to January 2021. For more detailed insights on how Virginia's costs compare to other regions, you can visit the MyLifeElsewhere website.
Healthcare costs
Healthcare services in Virginia, such as doctor check-ups and dentistry, cost 1% higher than the national average, while overall health care spending per capita in the state remains lower than the national average, with a gap of about $1,800 per person in 2022. For more detailed information on living expenses in Virginia, the RentCafe Cost of Living Calculator provides valuable insights into how these differences impact daily costs.
Utility bills
In Virginia, the average monthly utility bills encompass $110.60 for electricity, $104.81 for natural gas, $75 for internet, $100 for cable, and $40 for water, leading to a total of approximately $430.41. These costs position Virginia as the 21st most expensive state for utilities. For further in-depth details, you can visit the Patch website, which provides comprehensive information on utility costs in Virginia.
Childcare expenses
Child care in Virginia is highly unaffordable, with costs ranging from $100 to $440 per week per child, exceeding 7% of household income for most families, especially those with infants, toddlers, and preschoolers. Additionally, there is a significant shortage of child care slots, particularly for younger children. For more information on initiatives and assessments regarding these challenges, the Virginia's Self-Sufficiency Programs provide further insights on the availability and affordability of child care in the state.
Education costs
In Virginia, the average in-state tuition and fees for public universities in the 2024-25 school year are $15,660, making it one of the highest in the United States, with only nine other states having more expensive in-state tuition. Despite experiencing a 7% reduction from 2019-20 when adjusted for inflation, Virginia's tuition fees remain significantly above the national average of $11,610. For more detailed insights on this subject, you can visit the Virginia College Tuition Costs page on Axios, which provides comprehensive information on the topic. This disparity highlights the ongoing challenge for students and families in Virginia as they navigate the financial demands of higher education.
Entertainment prices
Entertainment prices in Virginia are relatively affordable, with movie tickets costing about $12 and gym memberships around $35 per month, similar to national averages. For those interested in cultural experiences, yearly memberships for museums and cultural sites range between $50 and $100, making them quite accessible. For more detailed insights, you can explore the Cost of Living in Virginia on Moving Relocation's website, which offers a comprehensive overview of the expenses one might encounter while living in the state.
Tax rates
Virginia employs a progressive income tax system, with rates varying from 2% to 5.75% based on income brackets. Specifically, a 2% tax is applicable for income up to $3,000, 3% for income between $3,000 to $5,000, 5% for earnings from $5,000 to $17,000, and a rate of 5.75% for income exceeding $17,000. In addition, the state imposes a sales tax rate of 5.3%, which can reach up to a maximum of 7% when local rates are considered. Curious individuals can explore more detailed insights through the Virginia Tax Calculator.
Insurance costs
The average cost of health insurance in Virginia is $6,370 per person, equating to $25,481 for a family of four, which is $611 per person below the national average. Car insurance in Virginia averages $2,084 per year for full coverage and $708 per year for minimum coverage, making it relatively low compared to the national average. For more detailed information about insurance costs and comparisons, visit the ValChoice website.