Bellwood, Virginia Cost Of Living

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Overall 8%

Goods & Services 4%

Housing 22%

Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Bellwood	Virginia	National
Cost of living	92	107	100
Goods & Services	104	99	100
Groceries	90	96	100
Health care	102	97	100
Housing	78	130	100
Transportation	87	90	100
Utilities	100	100	100

Key findings

The cost of living in Bellwood is 14% lower than the Virginia average
The cost of living in Bellwood is 8% lower than the national average
Bellwood housing is 22% lower than the national average
Virginia general sales tax is 4% higher than the national average
Virginia state income tax is 19% lower than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$46,356	$3,863	$1,082	$1,391
Renters	$26,101	$2,175	$609	$783

To approximate the cost of living and the housing affordability in Bellwood, VA, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Bellwood have a median income of $46,356. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,082 per month to avoid calamity and poverty. The renters in the city have an income of about $26,101, which would make their monthly maximum allowable rental costs $609.

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%

Goods & Services

Item	Bellwood	National avg.	Difference
Haircut	$19.83	$17.49	13.4%
Beauty Salon	$46.00	$38.17	20.5%
Toothpaste	$1.89	$2.32	18.6%
Shampoo	$0.96	$1.01	5.1%
Movie	$11.59	$10.72	8.1%
Bowling	$17.25	$13.86	24.4%

Groceries

Item	Bellwood	National avg.	Difference
Ground Beef	$3.39	$3.90	13.1%
Fried Chicken	$1.05	$1.40	24.8%
Milk	$1.54	$1.96	21.5%
Potatoes	$3.35	$3.18	5.2%
Pizza	$10.18	$10.39	2.1%
Beer	$9.93	$9.23	7.6%

Health Care

Item	Bellwood	National avg.	Difference
Optometrist	$119.10	$106.34	12.0%
Doctor	$134.64	$115.25	16.8%
Dentist	$94.15	$98.38	4.3%
Ibuprofen	$9.06	$9.26	2.2%
Lipitor	$431.49	$466.47	7.5%

Housing

Item	Bellwood	National avg.	Difference
Home Price	$133,300.00	$184,700.00	27.8%
Avg. Mortgage Payment	$1,049.64	$1,273.32	17.6%
Apartment Rent	$877.00	$949.00	7.6%

Transportation

Item	Bellwood	National avg.	Difference
Gasoline	$2.34	$2.59	9.8%
Tire Balancing	$41.46	$48.90	15.2%

Utilities

Item	Bellwood	National avg.	Difference
All Electricity	$173.34	$167.60	3.4%
Phone	$175.14	$163.42	7.2%

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.
Petersburg, VA	31,997	89	-11%
Hopewell, VA	22,332	91	-9%
Montrose, VA	7,909	91	-9%
Bensley, VA	6,031	91	-9%
Sandston, VA	6,883	93	-7%
Bellwood, VA	6,082	92	-8%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
White Rock, NM	6,083	106	6%
Fowler, CA	6,083	113	13%
West Yarmouth, MA	6,080	124	24%
Willows, CA	6,080	108	8%
Patterson, LA	6,085	90	-10%
Bellwood, VA	6,082	92	-8%

Source: The Bellwood, VA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.