Idylwood 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.
IndexIdylwoodVirginiaNational
Cost of living index145108100
IndexIdylwoodVirginiaNational
Goods & Services index92100100
Groceries index11394100
Health care index8699100
Housing index252133100
Transportation index10893100
Utilities index101100100
An overview of the general cost of living index for Idylwood, VA is displayed above for your reference. Residents in Idylwood, VA enjoy a cost of living index of 145. This index is 34% higher than the Virginia average, and 45% 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 Idylwood, VA, the average cost of goods and services is 8% lower than it is in Virginia, and it is 8% lower than the national average.

Did you know?

  • The cost of living in Idylwood is 34% higher than the Virginia average.
  • The cost of living in Idylwood is 45% higher than the national average.
  • The cost of housing in Idylwood 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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Compare Idylwood, VA Cost of living To Other Cities

Salary Calculator

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Using the salary calculator lets you compare the salary you earn in Idylwood, VA to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Idylwood, VA, you have to earn a higher income in order to still have the same standard of living. To operate the Idylwood, VA salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$130,511$10,876$3,045$3,916
Renters$78,981$6,582$1,843$2,370
If you want to find a good determining factor for the cost of living and the general affordability of housing in Idylwood, 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 Idylwood, VA, the median monthly income is $130,511 for those who own their own homes. Under the standard rule, that income level would allow for $3,045 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $78,981, per the median income in the area. That would allow for renters to spend up to $1,843 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 Idylwood, 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

ItemIdylwoodNational avg.Difference
Haircut $15.75$14.597.9%
Beauty Salon $47.00$34.6835.5%
Toothpaste $2.18$2.4711.9%
Shampoo $0.99$1.023.1%
Movie $11.94$9.8721.0%
Bowling $5.30$4.3920.7%

Groceries

ItemIdylwoodNational avg.Difference
Ground Beef $2.99$4.4833.2%
Fried Chicken $1.59$1.468.6%
Milk $2.65$2.3612.4%
Potatoes $3.69$3.0620.5%
Pizza $8.00$9.2413.4%
Beer $8.59$8.630.5%

Health Care

ItemIdylwoodNational avg.Difference
Optometrist $71.67$99.7828.2%
Doctor $64.00$105.0339.1%
Dentist $81.75$88.707.8%
Ibuprofen $10.83$9.4115.1%
Lipitor $293.64$298.501.6%

Housing

ItemIdylwoodNational avg.Difference
Home Price $495,300.00$175,700.00181.9%
Avg. Mortgage Payment $2,313.93$1,081.03114.0%
Apartment Rent $1,688.00$920.0083.5%

Transportation

ItemIdylwoodNational avg.Difference
Gasoline $2.28$2.099.0%
Tire Balancing $48.00$45.296.0%

Utilities

ItemIdylwoodNational avg.Difference
All Electricity$178.68$170.804.6%
Phone $26.86$28.264.9%
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.
Woodlawn, VA2,08286-14%
Cottage City, MD1,07099-1%
Belle Haven, VA37695-5%
Silver Hill, MD5,3351055%
Hillcrest Heights, MD15,6041077%
Idylwood, VA17,64314545%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
San Carlos Park, FL17,64695-5%
Rancho Mirage, CA17,63415252%
Westbrook, ME17,66211111%
Newburyport, MA17,66214444%
East Cleveland, OH17,61986-14%
Idylwood, VA17,64314545%
Source: The Idylwood, VA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.