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.
InflationRank Score
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.
Explore Virginia in the live dashboard →Major metros in Virginia
- Richmond, VA RPP 99.5 C+
- Virginia Beach-Norfolk-Newport News, VA RPP 97.0 C+
Compare to other states
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 →