Burke Centre cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexBurke CentreVirginiaNational
Cost of living index137108100
IndexBurke CentreVirginiaNational
Goods & Services index98100100
Groceries index11294100
Health care index9499100
Housing index214133100
Transportation index12193100
Utilities index98100100
An overview of the general cost of living index for Burke Centre, VA is displayed above for your reference. Residents in Burke Centre, VA enjoy a cost of living index of 137. This index is 26% higher than the Virginia average, and 37% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Burke Centre, VA, the average cost of goods and services is 2% lower than it is in Virginia, and it is 2% lower than the national average.

Did you know?

  • The cost of living in Burke Centre is 26% higher than the Virginia average.
  • The cost of living in Burke Centre is 37% higher than the national average.
  • The cost of housing in Burke Centre is 114% higher than the national average.
  • Virginia general sales tax is 4% higher than the national average.
  • Virginia state income tax is 10% lower than the national average.

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Compare Burke Centre, VA Cost of living To Other Cities

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Use the salary calculator to compare your current salary in Burke Centre, VA to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Burke Centre, VA, then you would need to earn more income in order to maintain the same standard of living. To use the Burke Centre, VA salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$120,713$10,059$2,816$3,622
Renters$69,844$5,820$1,630$2,096
The affordability of the housing market in Burke Centre, VA as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Burke Centre, VA homeowners, the median income is $120,713. This indicates that a monthly maximum of $2,816 should be spent by homeowners on all housing related costs. Renters have a median income of $69,844. This indicates that renters should have a maximum of $1,630 used for their rent related monthly costs.

Virginia Sales Tax

StateGeneral Sales TaxWith Max Surtax
Virginia5.3%6%

Virginia Income Tax

StateIncome Tax (Low)Income Tax (High)
Virginia2%5.75%
One thing to keep in mind when considering the cost of living in Burke Centre, VA is the Virginia sales tax and Virginia income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Virginia sales tax rate is 5.3% and the maximum surtax that can be charged is 6%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Virginia income tax rates range from 2% to 5.75%.

Goods & Services

ItemBurke CentreNational avg.Difference
Haircut $17.50$14.5919.9%
Beauty Salon $53.25$34.6853.5%
Toothpaste $2.24$2.479.4%
Shampoo $1.02$1.020.2%
Movie $12.71$9.8728.8%
Bowling $5.38$4.3922.5%

Groceries

ItemBurke CentreNational avg.Difference
Ground Beef $3.49$4.4822.0%
Fried Chicken $1.66$1.4613.4%
Milk $2.68$2.3613.7%
Potatoes $3.69$3.0620.5%
Pizza $8.00$9.2413.4%
Beer $9.29$8.637.6%

Health Care

ItemBurke CentreNational avg.Difference
Optometrist $73.50$99.7826.3%
Doctor $87.20$105.0317.0%
Dentist $86.40$88.702.6%
Ibuprofen $11.38$9.4120.9%
Lipitor $293.64$298.501.6%

Housing

ItemBurke CentreNational avg.Difference
Home Price $392,400.00$175,700.00123.3%
Avg. Mortgage Payment $2,743.63$1,081.03153.8%
Apartment Rent $1,772.00$920.0092.6%

Transportation

ItemBurke CentreNational avg.Difference
Gasoline $2.59$2.0923.8%
Tire Balancing $52.00$45.2914.8%

Utilities

ItemBurke CentreNational avg.Difference
All Electricity$167.80$170.801.8%
Phone $27.32$28.263.3%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Woodlawn, VA2,08286-14%
Potomac Heights, MD1,12594-6%
Belle Haven, VA37695-5%
Indian Head, MD3,88511010%
Bull Run, VA14,5701088%
Burke Centre, VA17,84213737%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Creve Coeur, MO17,84112222%
Willimantic, CT17,84511111%
Tiffin, OH17,83588-12%
New Castle, IN17,85974-26%
Wallingford Center, CT17,82412424%
Burke Centre, VA17,84213737%
Source: The Burke Centre, VA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.