Cost Of Living In South Boston, VA

South Boston 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.
Index	South Boston	Virginia	National
Cost of living index	86	109	100
Index	South Boston	Virginia	National
Goods & Services index	97	100	100
Groceries index	88	95	100
Health care index	93	101	100
Housing index	66	133	100
Transportation index	86	93	100
Utilities index	104	100	100

Displayed above is a general overview of the South Boston, VA cost of living index. The overall cost of living index in South Boston, VA is 86, which is 21% lower than the Virginia average and 14% 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 South Boston, VA are 3% lower than the Virginia average and 3% lower than the national average.

Did you know?

The cost of living in South Boston is 21% lower than the Virginia average.
The cost of living in South Boston is 14% lower than the national average.
The cost of housing in South Boston is 34% 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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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

The salary calculator is meant to help you compare your salary in South Boston, VA to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in South Boston, VA, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the South Boston, VA salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$43,036	$3,586	$1,004	$1,291
Renters	$15,009	$1,251	$350	$450

One can approximate the cost of living and the housing affordability in South Boston, VA by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in South Boston, VA have a median income of $43,036. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,004 per month to avoid calamity and poverty. The renters in the city have an income of about $15,009, which would make their monthly maximum allowable rental costs $350.

Virginia Sales Tax

State	General Sales Tax	With Max Surtax
Virginia	5.3%	6%

Virginia Income Tax

State	Income Tax (Low)	Income Tax (High)
Virginia	2%	5.75%

One thing to keep in mind when considering the cost of living in South Boston, VA is the Virginia sales tax and Virginia income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Virginia sales tax rate is 5.3% and the maximum surtax that can be charged is 6%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Virginia income tax rates range from 2% to 5.75%.

Goods & Services

Item	South Boston	National avg.	Difference
Haircut	$11.40	$15.56	26.8%
Beauty Salon	$28.73	$36.11	20.4%
Toothpaste	$1.83	$2.47	25.9%
Shampoo	$0.84	$0.96	13.3%
Movie	$11.62	$10.13	14.7%
Bowling	$4.87	$4.74	2.9%

Groceries

Item	South Boston	National avg.	Difference
Ground Beef	$3.93	$3.98	1.3%
Fried Chicken	$1.03	$1.41	26.8%
Milk	$1.68	$2.06	18.6%
Potatoes	$2.44	$2.98	18.1%
Pizza	$8.82	$9.47	6.9%
Beer	$9.15	$8.79	4.0%

Health Care

Item	South Boston	National avg.	Difference
Optometrist	$115.57	$101.04	14.4%
Doctor	$91.63	$107.44	14.7%
Dentist	$82.00	$90.42	9.3%
Ibuprofen	$8.54	$9.28	8.0%
Lipitor	$426.46	$426.50	0.0%

Housing

Item	South Boston	National avg.	Difference
Home Price	$119,200.00	$175,700.00	32.2%
Avg. Mortgage Payment	$934.73	$1,133.23	17.5%
Apartment Rent	$553.00	$920.00	39.9%

Transportation

Item	South Boston	National avg.	Difference
Gasoline	$1.80	$1.99	9.9%
Tire Balancing	$35.20	$45.76	23.1%

Utilities

Item	South Boston	National avg.	Difference
All Electricity	$187.75	$163.81	14.6%
Phone	$26.00	$28.39	8.4%

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, State	Population	Cost of Living Index	National Avg.
Clover, VA	483	80	-20%
Mountain Road, VA	1,255	82	-18%
Virgilina, VA	157	86	-14%
Riverdale, VA	1,361	86	-14%
Cluster Springs, VA	745	86	-14%
South Boston, VA	8,069	86	-14%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Temple Hills, MD	8,069	117	17%
Pukalani, HI	8,067	183	83%
Senatobia, MS	8,063	85	-15%
Antigo, WI	8,075	81	-19%
London, KY	8,062	87	-13%
South Boston, VA	8,069	86	-14%

Source: The South Boston, VA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.

South Boston, VA Cost of Living