Petersburg 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.
IndexPetersburgVirginiaNational
Cost of living index91108100
IndexPetersburgVirginiaNational
Goods & Services index99100100
Groceries index9694100
Health care index10199100
Housing index73133100
Transportation index8893100
Utilities index111100100
A general summary of the cost of living index in Petersburg, VA is shown above. Compared to the state average of Virginia the cost of living index in Petersburg, VA is 91, which is 16% lower than the average in Virginia and compared to the national average it is 9% 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 Petersburg, VA goods and services come in at equal to the average in Virginia and are 1% lower than compared to the nationwide average.

Did you know?

  • The cost of living in Petersburg is 16% lower than the Virginia average.
  • The cost of living in Petersburg is 9% lower than the national average.
  • The cost of housing in Petersburg is 27% 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 Petersburg

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Petersburg

Compare Petersburg, 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
Using the salary calculator lets you compare the salary you earn in Petersburg, 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 Petersburg, VA, you have to earn a higher income in order to still have the same standard of living. To operate the Petersburg, 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$49,110$4,093$1,146$1,473
Renters$23,929$1,994$558$718
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Petersburg, 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 Petersburg, VA homeowners, is $49,110. This would allow for a maximum of $1,146 per month to be spent on housing costs. For renters, the median monthly income is $23,929 which would result in a maximum of $558 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%
For those who live in Petersburg, VA and want to know what the true cost of living is, they ought to look at both the Virginia income tax rate and the Virginia sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Virginia, the sales tax is 5.3%, while the most you'll pay in surtax is 6%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Virginia, the income tax rate ranges between 2% to 5.75%.

Goods & Services

ItemPetersburgNational avg.Difference
Haircut $19.00$14.5930.2%
Beauty Salon $35.40$34.682.1%
Toothpaste $1.78$2.4728.0%
Shampoo $1.25$1.0222.3%
Movie $10.50$9.876.4%
Bowling $5.93$4.3935.0%

Groceries

ItemPetersburgNational avg.Difference
Ground Beef $4.32$4.483.5%
Fried Chicken $1.49$1.461.8%
Milk $2.15$2.368.8%
Potatoes $3.07$3.060.3%
Pizza $8.49$9.248.1%
Beer $9.79$8.6313.4%

Health Care

ItemPetersburgNational avg.Difference
Optometrist $98.60$99.781.2%
Doctor $91.33$105.0313.0%
Dentist $95.28$88.707.4%
Ibuprofen $9.19$9.412.4%
Lipitor $324.24$298.508.6%

Housing

ItemPetersburgNational avg.Difference
Home Price $114,100.00$175,700.0035.1%
Avg. Mortgage Payment $876.77$1,081.0318.9%
Apartment Rent $845.00$920.008.2%

Transportation

ItemPetersburgNational avg.Difference
Gasoline $1.76$2.0915.8%
Tire Balancing $44.77$45.291.1%

Utilities

ItemPetersburgNational avg.Difference
All Electricity$177.03$170.803.6%
Phone $34.01$28.2620.4%
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.
Camptown, VA55686-14%
Hopewell, VA22,37593-7%
Bellwood, VA5,88994-6%
Ettrick, VA5,66095-5%
Prince George, VA2,01695-5%
Petersburg, VA32,43991-9%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Westfield, IN32,4261022%
Danville, IL32,48384-16%
Franklin Town, MA32,39314040%
Fair Oaks, VA32,39213737%
North Olmsted, OH32,37499-1%
Petersburg, VA32,43991-9%
Source: The Petersburg, VA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.