Franconia 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.
IndexFranconiaVirginiaNational
Cost of living index137108100
IndexFranconiaVirginiaNational
Goods & Services index98100100
Groceries index11294100
Health care index9499100
Housing index214133100
Transportation index12193100
Utilities index98100100
An overview of the general cost of living index for Franconia, VA is displayed above for your reference. Residents in Franconia, 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 Franconia, 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 Franconia is 26% higher than the Virginia average.
  • The cost of living in Franconia is 37% higher than the national average.
  • The cost of housing in Franconia 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 Franconia, VA Cost of living To Other Cities

Salary Calculator

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The salary calculator is meant to help you compare your salary in Franconia, VA to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Franconia, VA, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Franconia, VA salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$118,255$9,855$2,759$3,548
Renters$100,885$8,407$2,354$3,027
The affordability of the housing market in Franconia, 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 Franconia, VA homeowners, the median income is $118,255. This indicates that a monthly maximum of $2,759 should be spent by homeowners on all housing related costs. Renters have a median income of $100,885. This indicates that renters should have a maximum of $2,354 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%
When assessing the complete cost of living in Franconia, VA, the Virginia income tax and the Virginia sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Virginia maximum surtax is 6%, and the Virginia sales tax is 5.3%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 2% to 5.75% in Virginia.

Goods & Services

ItemFranconiaNational 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

ItemFranconiaNational 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

ItemFranconiaNational 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

ItemFranconiaNational avg.Difference
Home Price $377,600.00$175,700.00114.9%
Avg. Mortgage Payment $2,743.63$1,081.03153.8%
Apartment Rent $1,953.00$920.00112.3%

Transportation

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

Utilities

ItemFranconiaNational 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%
Cottage City, MD1,07099-1%
Belle Haven, VA37695-5%
Dumfries, VA5,1221044%
Franconia, VA19,43913737%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Middletown, DE19,46911616%
Central Falls, RI19,40611111%
DeBary, FL19,40499-1%
Bethany, OK19,39085-15%
Alsip, IL19,3851033%
Franconia, VA19,43913737%
Source: The Franconia, VA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.