George Mason 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.
IndexGeorge MasonVirginiaNational
Cost of living index145108100
IndexGeorge MasonVirginiaNational
Goods & Services index104100100
Groceries index9194100
Health care index10999100
Housing index252133100
Transportation index10493100
Utilities index85100100
Displayed above is a general overview of the George Mason, VA cost of living index. The overall cost of living index in George Mason, VA is 145, which is 34% higher than the Virginia average and 45% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in George Mason, VA are 4% higher than the Virginia average and 4% higher than the national average.

Did you know?

  • The cost of living in George Mason is 34% higher than the Virginia average.
  • The cost of living in George Mason is 45% higher than the national average.
  • The cost of housing in George Mason is 152% 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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The salary calculator allows you to compare how much your current salary in George Mason, VA would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than George Mason, VA, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The George Mason, VA salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$129,643$10,804$3,025$3,890
Renters$75,662$6,305$1,765$2,270
The affordability of the housing market in George Mason, 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 George Mason, VA homeowners, the median income is $129,643. This indicates that a monthly maximum of $3,025 should be spent by homeowners on all housing related costs. Renters have a median income of $75,662. This indicates that renters should have a maximum of $1,765 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 George Mason, 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

ItemGeorge MasonNational avg.Difference
Haircut $13.80$14.595.4%
Beauty Salon $37.60$34.688.4%
Toothpaste $1.85$2.4725.2%
Shampoo $0.87$1.0214.9%
Movie $10.50$9.876.4%
Bowling $5.28$4.3920.2%

Groceries

ItemGeorge MasonNational avg.Difference
Ground Beef $4.17$4.486.9%
Fried Chicken $1.19$1.4618.7%
Milk $1.93$2.3618.1%
Potatoes $3.42$3.0611.7%
Pizza $8.00$9.2413.4%
Beer $10.25$8.6318.7%

Health Care

ItemGeorge MasonNational avg.Difference
Optometrist $95.00$99.784.8%
Doctor $115.50$105.0310.0%
Dentist $98.33$88.7010.9%
Ibuprofen $7.98$9.4115.2%
Lipitor $346.03$298.5015.9%

Housing

ItemGeorge MasonNational avg.Difference
Home Price $473,300.00$175,700.00169.4%
Avg. Mortgage Payment $991.43$1,081.038.3%
Apartment Rent $1,938.00$920.00110.7%

Transportation

ItemGeorge MasonNational avg.Difference
Gasoline $2.21$2.095.8%
Tire Balancing $44.77$45.291.1%

Utilities

ItemGeorge MasonNational avg.Difference
All Electricity$166.11$170.802.7%
Phone $18.99$28.2632.8%
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, StatePopulationCost of Living IndexNational Avg.
Woodlawn, VA2,08286-14%
Belle Haven, VA37695-5%
Bull Run, VA14,5701088%
Marumsco, VA38,89411111%
Manassas Park, VA14,99211010%
George Mason, VA9,92814545%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Troy, IL9,93198-2%
London, OH9,92487-13%
Northampton, PA9,9211044%
Roma, TX9,93868-32%
Delhi, CA9,9181022%
George Mason, VA9,92814545%
Source: The George Mason, VA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.