Virginia Cost of Living & Economic Score

Federal Bureau of Economic Analysis data on price levels, real income, and household-budget impact for Virginia. Last updated 2024.

C
InflationRank Score
74 / 100
Virginia ranks around the U.S. national average for cost-of-living-adjusted economic conditions.
Cost level (RPP)
102.0
2% above U.S. average
Real per-capita income
$62.0K
3K above U.S. ($59K)
Property tax
0.81%
vs U.S. avg 1.02%
Sales tax
5.77%
combined state + local avg
State income tax (top)
5.75%
top marginal rate
Home insurance (avg)
$1,295/yr
~$300K coverage

Cost of living in Virginia

According to the U.S. Bureau of Economic Analysis, prices in Virginia run 2.0% above the U.S. average (Regional Price Parity index 102.0 on a base of 100). The state sits in the South region. That puts it close to the middle of the U.S. cost-of-living distribution.

Real per-capita personal income — what local residents actually earn after adjusting for cost of living — is $62.0K (vs $59K nationally). Locals have higher real purchasing power than the U.S. average — high incomes here more than compensate for any cost premium.

Notable cost factors: state-and-local taxes are roughly in line with the U.S. average.

Cost of living in Virginia's major metro areas

How does cost of living in Virginia compare to other states?

Colorado C- Delaware C+ Florida C Utah C+ Vermont D+

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Frequently Asked Questions

What is the cost of living in Virginia?

Virginia's Regional Price Parity (RPP) is 102.0 (U.S.=100), meaning prices are 2.0% above the national average. Source: U.S. Bureau of Economic Analysis, 2024.

Is Virginia affordable to live in?

Virginia has an InflationRank score of 74/100 (grade C), reflecting cost of living near the U.S. national average. Real per-capita income is $62.0K (U.S. avg $59K).

What is the InflationRank score for Virginia?

Virginia's InflationRank score is 74/100 (grade C). The score blends cost burden (60%), inflation pressure (25%), and income resilience (15%), using Bureau of Economic Analysis and Bureau of Labor Statistics federal data.

About the InflationRank Score

The InflationRank Score is a proprietary 0–100 composite that summarizes a place's cost-of-living and economic conditions on a familiar A–F grading scale. Higher scores reflect a better cost-of-living-adjusted economic situation.

The composite weighs three dimensions sourced from federal government datasets: cost level (how local prices compare to the national average), inflation pressure (recent direction and pace of cost movements), and income resilience (real, cost-adjusted earning power of local residents). The score is anchored to the U.S. national average and reviewed annually as federal data refreshes.

Underlying data is drawn from authoritative federal economic agencies and public housing datasets. See full data sources →