Loch Lomond 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.
IndexLoch LomondVirginiaNational
Cost of living index121109100
IndexLoch LomondVirginiaNational
Goods & Services index117100100
Groceries index11595100
Health care index98101100
Housing index146133100
Transportation index10893100
Utilities index90100100
Here we can see a simple outline of the cost of living in Loch Lomond, VA. As you can see, with the average cost of living in Loch Lomond, VA being 121, that puts it 11% higher than the average of Virginia and 21% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Loch Lomond, VA, the price of goods and services are 17% higher than the average of Virginia as well as 17% higher than the nation's average.

Did you know?

  • The cost of living in Loch Lomond is 11% higher than the Virginia average.
  • The cost of living in Loch Lomond is 21% higher than the national average.
  • The cost of housing in Loch Lomond is 46% 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 Loch Lomond, VA Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is used in order to provide a comparison of your current salary in Loch Lomond, VA to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Loch Lomond, VA, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Loch Lomond, VA salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$77,438$6,453$1,807$2,323
Renters$90,922$7,577$2,121$2,728
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Loch Lomond, VA, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Loch Lomond, VA has a median income of about $77,438 for people who own homes. Based on that number, a person should spend a maximum of $1,807 on expenses related to housing. Renters have a slightly different median income, which is $90,922. Based on this average, renters should spend no more than $2,121 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Virginia Sales Tax

StateGeneral Sales TaxWith Max Surtax
Virginia5.3%6%

Virginia Income Tax

StateIncome Tax (Low)Income Tax (High)
Virginia2%5.75%
When considering the overall cost of living expenses in Loch Lomond, VA, it's important to take into account the sales tax for Virginia, as well as the rate for income tax in Virginia. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Virginia is 6%, and the sales tax in the state of Virginia is 5.3%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Virginia starts from 2% and goes up to 5.75%.

Goods & Services

ItemLoch LomondNational avg.Difference
Haircut $20.83$15.5633.8%
Beauty Salon $58.39$36.1161.7%
Toothpaste $2.89$2.4716.9%
Shampoo $0.88$0.968.5%
Movie $12.00$10.1318.5%
Bowling $5.45$4.7415.1%

Groceries

ItemLoch LomondNational avg.Difference
Ground Beef $3.72$3.986.6%
Fried Chicken $1.79$1.4127.2%
Milk $2.35$2.0613.7%
Potatoes $3.81$2.9827.9%
Pizza $9.79$9.473.3%
Beer $9.99$8.7913.6%

Health Care

ItemLoch LomondNational avg.Difference
Optometrist $74.83$101.0425.9%
Doctor $96.39$107.4410.3%
Dentist $93.78$90.423.7%
Ibuprofen $8.92$9.283.8%
Lipitor $443.00$426.503.9%

Housing

ItemLoch LomondNational avg.Difference
Home Price $239,100.00$175,700.0036.1%
Avg. Mortgage Payment $2,698.56$1,133.23138.1%
Apartment Rent $1,547.00$920.0068.2%

Transportation

ItemLoch LomondNational avg.Difference
Gasoline $2.20$1.9910.6%
Tire Balancing $46.05$45.760.6%

Utilities

ItemLoch LomondNational avg.Difference
All Electricity$141.47$163.8113.6%
Phone $27.32$28.393.8%
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.
Calverton, VA17511010%
Dumfries, VA5,1221088%
Bull Run, VA14,57011616%
Marumsco, VA38,89411616%
Midland, VA22911616%
Loch Lomond, VA4,29212121%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Grafton, ND4,29181-19%
Hamburg, PA4,29394-6%
Bradley Beach, NJ4,29017272%
Austin, IN4,29481-19%
Narberth, PA4,29513939%
Loch Lomond, VA4,29212121%
Source: The Loch Lomond, VA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.