Franconia, VA Cost Of Living

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.
Index	Franconia	Virginia	National
Cost of living index	141	108	100
Index	Franconia	Virginia	National
Goods & Services index	109	100	100
Groceries index	117	96	100
Health care index	107	100	100
Housing index	216	130	100
Transportation index	110	91	100
Utilities index	103	101	100

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 141. This index is 31% higher than the Virginia average, and 41% 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 9% higher than it is in Virginia, and it is 9% higher than the national average.

Did you know?

The cost of living in Franconia is 31% higher than the Virginia average.
The cost of living in Franconia is 41% higher than the national average.
The cost of housing in Franconia is 116% 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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Salary Calculator

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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

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 Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$124,487	$10,374	$2,905	$3,735
Renters	$100,880	$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 $124,487. This indicates that a monthly maximum of $2,905 should be spent by homeowners on all housing related costs. Renters have a median income of $100,880. This indicates that renters should have a maximum of $2,354 used for their rent related monthly costs.

Virginia Sales Tax

State	General Sales Tax	With Max Surtax
Virginia	5.3%	6%

Virginia Income Tax

State	Income Tax (Low)	Income Tax (High)
Virginia	2%	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

Item	Franconia	National avg.	Difference
Haircut	$18.11	$16.09	12.6%
Beauty Salon	$62.00	$37.33	66.1%
Toothpaste	$3.17	$2.45	29.7%
Shampoo	$1.27	$1.00	26.6%
Movie	$12.63	$10.28	22.8%
Bowling	$5.45	$4.93	10.5%

Groceries

Item	Franconia	National avg.	Difference
Ground Beef	$4.24	$3.80	11.6%
Fried Chicken	$2.29	$1.40	63.7%
Milk	$2.45	$2.01	21.9%
Potatoes	$3.69	$3.01	22.4%
Pizza	$10.49	$9.89	6.1%
Beer	$10.10	$8.90	13.5%

Health Care

Item	Franconia	National avg.	Difference
Optometrist	$95.25	$102.16	6.8%
Doctor	$122.58	$108.36	13.1%
Dentist	$98.00	$92.53	5.9%
Ibuprofen	$9.83	$9.28	5.9%
Lipitor	$432.66	$425.82	1.6%

Housing

Item	Franconia	National avg.	Difference
Home Price	$396,300.00	$184,700.00	114.6%
Avg. Mortgage Payment	$2,942.02	$1,202.44	144.7%
Apartment Rent	$2,093.00	$949.00	120.5%

Transportation

Item	Franconia	National avg.	Difference
Gasoline	$2.45	$2.24	9.0%
Tire Balancing	$51.67	$46.29	11.6%

Utilities

Item	Franconia	National avg.	Difference
All Electricity	$143.97	$165.96	13.2%
Phone	$34.95	$28.68	21.8%

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, State	Population	Cost of Living Index	National Avg.
Rose Hill CDP (Lee County), VA	708	92	-8%
Woodlawn CDP (Carroll County), VA	2,247	94	-6%
Potomac Heights, MD	1,191	95	-5%
Wakefield town, VA	810	97	-3%
Belle Haven town, VA	562	102	2%
Franconia, VA	19,935	141	41%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Warrensburg, MO	19,932	90	-10%
Germantown, WI	19,927	105	5%
Lake Zurich, IL	19,950	126	26%
Haslett, MI	19,951	94	-6%
South San Jose Hills, CA	19,914	125	25%
Franconia, VA	19,935	141	41%

Source: The Franconia, VA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Franconia, VA Cost of Living