Marion 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.
IndexMarionVirginiaNational
Cost of living index87108100
IndexMarionVirginiaNational
Goods & Services index97100100
Groceries index9294100
Health care index10899100
Housing index61133100
Transportation index9993100
Utilities index106100100
Displayed above is a general overview of the Marion, VA cost of living index. The overall cost of living index in Marion, VA is 87, which is 19% lower than the Virginia average and 13% lower 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 Marion, VA are 2% lower than the Virginia average and 3% lower than the national average.

Did you know?

  • The cost of living in Marion is 19% lower than the Virginia average.
  • The cost of living in Marion is 13% lower than the national average.
  • The cost of housing in Marion is 39% 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.

Find Real Estate Listings In Marion

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Marion

Compare Marion, 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
Use the salary calculator to compare your current income in Marion, VA to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Marion, VA, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Marion, VA salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$46,118$3,843$1,076$1,384
Renters$17,763$1,480$414$533
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Marion, VA as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Marion, VA homeowners, is $46,118. This would allow for a maximum of $1,076 per month to be spent on housing costs. For renters, the median monthly income is $17,763 which would result in a maximum of $414 to be spent on rental 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 you are determining the total cost of living in Marion, 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

ItemMarionNational avg.Difference
Haircut $13.55$14.597.1%
Beauty Salon $30.96$34.6810.7%
Toothpaste $2.13$2.4713.9%
Shampoo $0.96$1.026.1%
Movie $10.02$9.871.5%
Bowling $4.69$4.396.8%

Groceries

ItemMarionNational avg.Difference
Ground Beef $4.29$4.484.2%
Fried Chicken $1.13$1.4622.8%
Milk $1.57$2.3633.4%
Potatoes $3.03$3.061.0%
Pizza $9.21$9.240.4%
Beer $9.35$8.638.3%

Health Care

ItemMarionNational avg.Difference
Optometrist $107.26$99.787.5%
Doctor $105.00$105.030.0%
Dentist $105.00$88.7018.4%
Ibuprofen $8.89$9.415.5%
Lipitor $312.47$298.504.7%

Housing

ItemMarionNational avg.Difference
Home Price $109,700.00$175,700.0037.6%
Avg. Mortgage Payment $955.01$1,081.0311.7%
Apartment Rent $544.00$920.0040.9%

Transportation

ItemMarionNational avg.Difference
Gasoline $1.94$2.097.3%
Tire Balancing $52.00$45.2914.8%

Utilities

ItemMarionNational avg.Difference
All Electricity$146.87$170.8014.0%
Phone $37.99$28.2634.4%
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.
Saltville, VA2,37482-18%
Sugar Grove, VA71383-17%
Atkins, VA1,16784-16%
Troutdale, VA16084-16%
McMullin, VA29685-15%
Marion, VA5,93187-13%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Crafton, PA5,93192-8%
Central City, KY5,93279-21%
Bellevue, KY5,93387-13%
Lucas, TX5,92814848%
Wilmington city, IL5,93498-2%
Marion, VA5,93187-13%
Source: The Marion, VA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.