Farmville 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.
IndexFarmvilleVirginiaNational
Cost of living index93108100
IndexFarmvilleVirginiaNational
Goods & Services index95100100
Groceries index9294100
Health care index9599100
Housing index91133100
Transportation index8793100
Utilities index98100100
An overview of the general cost of living index for Farmville, VA is displayed above for your reference. Residents in Farmville, VA enjoy a cost of living index of 93. This index is 14% lower than the Virginia average, and 7% lower 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 Farmville, VA, the average cost of goods and services is 5% lower than it is in Virginia, and it is 5% lower than the national average.

Did you know?

  • The cost of living in Farmville is 14% lower than the Virginia average.
  • The cost of living in Farmville is 7% lower than the national average.
  • The cost of housing in Farmville is 9% lower 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 Farmville, VA Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in Farmville, VA to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Farmville, VA, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Farmville, VA salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$55,599$4,633$1,297$1,668
Renters$20,597$1,716$481$618
If you want to find a good determining factor for the cost of living and the general affordability of housing in Farmville, VA, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Farmville, VA, the median monthly income is $55,599 for those who own their own homes. Under the standard rule, that income level would allow for $1,297 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $20,597, per the median income in the area. That would allow for renters to spend up to $481 on monthly rental expenses.

Virginia Sales Tax

StateGeneral Sales TaxWith Max Surtax
Virginia5.3%6%

Virginia Income Tax

StateIncome Tax (Low)Income Tax (High)
Virginia2%5.75%
When you are determining the total cost of living in Farmville, VA you will want to make sure you consider both the Virginia sales tax and the Virginia income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Virginia is 5.3%, with the highest surtax being 6%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Virginia have a range from 2% to 5.75%.

Goods & Services

ItemFarmvilleNational avg.Difference
Haircut $11.00$14.5924.6%
Beauty Salon $27.60$34.6820.4%
Toothpaste $1.90$2.4723.2%
Shampoo $0.92$1.0210.0%
Movie $11.50$9.8716.5%
Bowling $5.06$4.3915.2%

Groceries

ItemFarmvilleNational avg.Difference
Ground Beef $4.48$4.480.1%
Fried Chicken $1.26$1.4613.9%
Milk $2.21$2.366.2%
Potatoes $2.99$3.062.3%
Pizza $8.59$9.247.1%
Beer $8.90$8.633.1%

Health Care

ItemFarmvilleNational avg.Difference
Optometrist $116.13$99.7816.4%
Doctor $87.94$105.0316.3%
Dentist $80.50$88.709.2%
Ibuprofen $8.99$9.414.5%
Lipitor $327.55$298.509.7%

Housing

ItemFarmvilleNational avg.Difference
Home Price $168,300.00$175,700.004.2%
Avg. Mortgage Payment $864.79$1,081.0320.0%
Apartment Rent $740.00$920.0019.6%

Transportation

ItemFarmvilleNational avg.Difference
Gasoline $1.90$2.099.2%
Tire Balancing $34.40$45.2924.0%

Utilities

ItemFarmvilleNational avg.Difference
All Electricity$174.01$170.801.9%
Phone $26.01$28.267.9%
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.
Burkeville, VA34187-13%
Crewe, VA2,87591-9%
Cumberland, VA14499-1%
Hampden-Sydney, VA1,67411111%
Farmville, VA8,35093-7%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Purcellville, VA8,35013131%
Ripley, TN8,35087-13%
Boulder Hill, IL8,349100-0%
Commerce, TX8,34892-8%
Rice Lake, WI8,35394-6%
Farmville, VA8,35093-7%
Source: The Farmville, VA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.