Hollins 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.
IndexHollinsVirginiaNational
Cost of living index93108100
IndexHollinsVirginiaNational
Goods & Services index90100100
Groceries index9094100
Health care index9699100
Housing index96133100
Transportation index8893100
Utilities index100100100
A general overview of the cost of living index for Hollins, VA is displayed above. In Hollins, VA, the overall cost of living index is 93, which is 14% lower than the Virginia average and 7% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Hollins, VA, the city's goods and services are 10% lower than the Virginia average and 11% lower than the U.S. average.

Did you know?

  • The cost of living in Hollins is 14% lower than the Virginia average.
  • The cost of living in Hollins is 7% lower than the national average.
  • The cost of housing in Hollins is 4% 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 Hollins, VA Cost of living To Other Cities

Salary Calculator

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Groceries index
Health care index
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Utilities index
The salary calculator allows you to compare how much your current salary in Hollins, 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 Hollins, VA, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Hollins, 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$61,840$5,153$1,443$1,855
Renters$41,044$3,420$958$1,231
If you want to find a good determining factor for the cost of living and the general affordability of housing in Hollins, 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 Hollins, VA, the median monthly income is $61,840 for those who own their own homes. Under the standard rule, that income level would allow for $1,443 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $41,044, per the median income in the area. That would allow for renters to spend up to $958 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 assessing the complete cost of living in Hollins, 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

ItemHollinsNational avg.Difference
Haircut $13.40$14.598.2%
Beauty Salon $27.60$34.6820.4%
Toothpaste $1.86$2.4724.8%
Shampoo $0.85$1.0216.8%
Movie $9.71$9.871.6%
Bowling $3.80$4.3913.5%

Groceries

ItemHollinsNational avg.Difference
Ground Beef $3.84$4.4814.2%
Fried Chicken $1.18$1.4619.4%
Milk $1.98$2.3616.0%
Potatoes $3.00$3.062.0%
Pizza $7.99$9.2413.6%
Beer $9.38$8.638.7%

Health Care

ItemHollinsNational avg.Difference
Optometrist $75.20$99.7824.6%
Doctor $74.76$105.0328.8%
Dentist $101.33$88.7014.2%
Ibuprofen $8.18$9.4113.1%
Lipitor $313.49$298.505.0%

Housing

ItemHollinsNational avg.Difference
Home Price $169,900.00$175,700.003.3%
Avg. Mortgage Payment $989.22$1,081.038.5%
Apartment Rent $867.00$920.005.8%

Transportation

ItemHollinsNational avg.Difference
Gasoline $1.87$2.0910.6%
Tire Balancing $37.95$45.2916.2%

Utilities

ItemHollinsNational avg.Difference
All Electricity$183.07$170.807.2%
Phone $25.25$28.2610.6%
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.
New Castle, VA25075-25%
Elliston, VA1,21983-17%
Lafayette, VA60687-13%
Montvale, VA70585-15%
Roanoke, VA97,94987-13%
Hollins, VA14,84493-7%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Ozark, AL14,83581-19%
Brownsville, FL14,83593-7%
El Sobrante CDP (Riverside County), CA14,85514949%
Millbrook, AL14,85893-7%
Rosedale, CA14,82612929%
Hollins, VA14,84493-7%
Source: The Hollins, VA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.