Vinton 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.
IndexVintonVirginiaNational
Cost of living index88108100
IndexVintonVirginiaNational
Goods & Services index90100100
Groceries index9094100
Health care index9699100
Housing index81133100
Transportation index8893100
Utilities index100100100
A general summary of the cost of living index in Vinton, VA is shown above. Compared to the state average of Virginia the cost of living index in Vinton, VA is 88, which is 19% lower than the average in Virginia and compared to the national average it is 12% 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 Vinton, VA goods and services come in at 10% lower than the average in Virginia and are 11% lower than compared to the nationwide average.

Did you know?

  • The cost of living in Vinton is 19% lower than the Virginia average.
  • The cost of living in Vinton is 12% lower than the national average.
  • The cost of housing in Vinton is 19% 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 Vinton, VA Cost of living To Other Cities

Salary Calculator

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The salary calculator allows you to compare how much your current salary in Vinton, VA would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Vinton, VA, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Vinton, VA salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$62,557$5,213$1,460$1,877
Renters$29,824$2,485$696$895
If you want to find a good determining factor for the cost of living and the general affordability of housing in Vinton, VA, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Vinton, VA, the median monthly income is $62,557 for those who own their own homes. Under the standard rule, that income level would allow for $1,460 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $29,824, per the median income in the area. That would allow for renters to spend up to $696 on monthly rental expenses.

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 Vinton, 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

ItemVintonNational avg.Difference
Haircut $13.40$14.598.2%
Beauty Salon $27.60$34.6820.4%
Toothpaste $1.86$2.4724.8%
Shampoo $0.85$1.0216.8%
Movie $9.71$9.871.6%
Bowling $3.80$4.3913.5%

Groceries

ItemVintonNational avg.Difference
Ground Beef $3.84$4.4814.2%
Fried Chicken $1.18$1.4619.4%
Milk $1.98$2.3616.0%
Potatoes $3.00$3.062.0%
Pizza $7.99$9.2413.6%
Beer $9.38$8.638.7%

Health Care

ItemVintonNational avg.Difference
Optometrist $75.20$99.7824.6%
Doctor $74.76$105.0328.8%
Dentist $101.33$88.7014.2%
Ibuprofen $8.18$9.4113.1%
Lipitor $313.49$298.505.0%

Housing

ItemVintonNational avg.Difference
Home Price $147,700.00$175,700.0015.9%
Avg. Mortgage Payment $989.22$1,081.038.5%
Apartment Rent $675.00$920.0026.6%

Transportation

ItemVintonNational avg.Difference
Gasoline $1.87$2.0910.6%
Tire Balancing $37.95$45.2916.2%

Utilities

ItemVintonNational avg.Difference
All Electricity$183.07$170.807.2%
Phone $25.25$28.2610.6%
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.
Montvale, VA70585-15%
Roanoke, VA97,94987-13%
Glenvar, VA81888-12%
Boones Mill, VA16688-12%
Salem, VA25,12093-7%
Vinton, VA8,12988-12%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
South Beloit, IL8,12991-9%
Lake Carmel, NY8,12713030%
Campbell, OH8,12776-24%
Lake Elmo, MN8,12312525%
Fern Park, FL8,12396-4%
Vinton, VA8,12988-12%
Source: The Vinton, VA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.