Tazewell 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.
IndexTazewellVirginiaNational
Cost of living index87109100
IndexTazewellVirginiaNational
Goods & Services index96100100
Groceries index9195100
Health care index112101100
Housing index64133100
Transportation index9393100
Utilities index101100100
The above illustration supplies generalized information for the Tazewell, VA cost of living index. Compared to other cities in Virginia and cities across the country, the cost of living index in Tazewell, VA is 87, which is 20% lower than the Virginia average and 13% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Tazewell, VA are 3% lower than the average for Virginia and 4% lower than the rest of the country.

Did you know?

  • The cost of living in Tazewell is 20% lower than the Virginia average.
  • The cost of living in Tazewell is 13% lower than the national average.
  • The cost of housing in Tazewell is 36% 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 Tazewell, VA Cost of living To Other Cities

Salary Calculator

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Using the salary calculator lets you compare the salary you earn in Tazewell, 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 Tazewell, VA, you have to earn a higher income in order to still have the same standard of living. To operate the Tazewell, 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$49,167$4,097$1,147$1,475
Renters$16,811$1,401$392$504
The affordability of the housing market in Tazewell, VA as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Tazewell, VA homeowners, the median income is $49,167. This indicates that a monthly maximum of $1,147 should be spent by homeowners on all housing related costs. Renters have a median income of $16,811. This indicates that renters should have a maximum of $392 used for their rent related monthly 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 Tazewell, 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

ItemTazewellNational avg.Difference
Haircut $14.92$15.564.1%
Beauty Salon $34.65$36.114.0%
Toothpaste $1.95$2.4720.9%
Shampoo $0.80$0.9617.5%
Movie $11.50$10.1313.5%
Bowling $4.54$4.744.1%

Groceries

ItemTazewellNational avg.Difference
Ground Beef $3.18$3.9820.3%
Fried Chicken $1.25$1.4110.9%
Milk $1.65$2.0619.9%
Potatoes $2.77$2.987.3%
Pizza $7.56$9.4720.2%
Beer $9.27$8.795.4%

Health Care

ItemTazewellNational avg.Difference
Optometrist $104.44$101.043.4%
Doctor $116.62$107.448.5%
Dentist $109.77$90.4221.4%
Ibuprofen $8.85$9.284.6%
Lipitor $453.35$426.506.3%

Housing

ItemTazewellNational avg.Difference
Home Price $110,300.00$175,700.0037.2%
Avg. Mortgage Payment $775.55$1,133.2331.6%
Apartment Rent $610.00$920.0033.7%

Transportation

ItemTazewellNational avg.Difference
Gasoline $1.87$1.996.3%
Tire Balancing $41.43$45.769.5%

Utilities

ItemTazewellNational avg.Difference
All Electricity$138.77$163.8115.3%
Phone $35.01$28.3923.3%
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.
Cucumber, WV3096-4%
Bartley, WV27972-28%
Raysal, WV55872-28%
Berwind, WV54472-28%
Pocahontas, VA62675-25%
Tazewell, VA4,56887-13%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Beecher, IL4,56899-1%
Eaton, CO4,5701055%
Chain Lake, WA4,56613333%
West Hazleton, PA4,56590-10%
St. James, MN4,56586-14%
Tazewell, VA4,56887-13%
Source: The Tazewell, VA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.