Lakeside 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.
IndexLakesideVirginiaNational
Cost of living index97109100
IndexLakesideVirginiaNational
Goods & Services index97100100
Groceries index9395100
Health care index105101100
Housing index99133100
Transportation index9593100
Utilities index99100100
A general summary of the cost of living index in Lakeside, VA is shown above. Compared to the state average of Virginia the cost of living index in Lakeside, VA is 97, which is 10% lower than the average in Virginia and compared to the national average it is 3% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Lakeside, VA goods and services come in at 3% lower than the average in Virginia and are 3% lower than compared to the nationwide average.

Did you know?

  • The cost of living in Lakeside is 10% lower than the Virginia average.
  • The cost of living in Lakeside is 3% lower than the national average.
  • The cost of housing in Lakeside is 1% 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 Lakeside, VA Cost of living To Other Cities

Salary Calculator

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Health care index
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Using the salary calculator lets you compare the salary you earn in Lakeside, 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 Lakeside, VA, you have to earn a higher income in order to still have the same standard of living. To operate the Lakeside, 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$60,120$5,010$1,403$1,804
Renters$34,902$2,909$814$1,047
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Lakeside, VA, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Lakeside, VA homeowners have a median income of $60,120. Using that number, you will come up with a maximum of $1,403 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $34,902, which means there is a maximum of $814 to be spent on the costs of renting a home or apartment.

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 Lakeside, 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

ItemLakesideNational avg.Difference
Haircut $18.67$15.5619.9%
Beauty Salon $36.33$36.110.6%
Toothpaste $1.78$2.4728.1%
Shampoo $0.88$0.968.5%
Movie $10.96$10.138.3%
Bowling $5.49$4.7415.9%

Groceries

ItemLakesideNational avg.Difference
Ground Beef $3.97$3.980.3%
Fried Chicken $1.71$1.4121.3%
Milk $1.49$2.0628.0%
Potatoes $2.57$2.9813.8%
Pizza $8.46$9.4710.7%
Beer $9.40$8.796.9%

Health Care

ItemLakesideNational avg.Difference
Optometrist $98.96$101.042.1%
Doctor $95.17$107.4411.4%
Dentist $112.80$90.4224.8%
Ibuprofen $8.67$9.286.6%
Lipitor $403.57$426.505.4%

Housing

ItemLakesideNational avg.Difference
Home Price $166,700.00$175,700.005.1%
Avg. Mortgage Payment $983.91$1,133.2313.2%
Apartment Rent $1,009.00$920.009.7%

Transportation

ItemLakesideNational avg.Difference
Gasoline $1.88$1.995.6%
Tire Balancing $43.47$45.765.0%

Utilities

ItemLakesideNational avg.Difference
All Electricity$146.74$163.8110.4%
Phone $31.66$28.3911.5%
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.
Montrose, VA7,68691-9%
Bensley, VA5,86592-8%
Bellwood, VA5,88992-8%
Dumbarton, VA8,34694-6%
Highland Springs, VA16,67394-6%
Lakeside, VA12,85497-3%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Stony Point, NY12,85413434%
Palmetto, FL12,85694-6%
Lakeland North, WA12,86012020%
Grass Valley, CA12,86111515%
Buford, GA12,86497-3%
Lakeside, VA12,85497-3%
Source: The Lakeside, VA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.