Bridgewater, Virginia Cost Of Living

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C-

Overall 2%

Goods & Services 6%

Housing 5%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; 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	Bridgewater	Virginia	National
Cost of living	102	107	100
Goods & Services	106	100	100
Groceries	99	96	100
Health care	112	100	100
Housing	105	130	100
Transportation	84	93	100
Utilities	101	97	100

Key findings

The cost of living in Bridgewater is 5% lower than the Virginia average
The cost of living in Bridgewater is 2% higher than the national average
Bridgewater housing is 5% higher 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	$82,813	$6,901	$1,932	$2,485
Renters	$39,352	$3,279	$918	$1,181

To approximate the cost of living and the housing affordability in Bridgewater, 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 Bridgewater have a median income of $82,813. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,932 per month to avoid calamity and poverty. The renters in the city have an income of about $39,352, which would make their monthly maximum allowable rental costs $918.

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	Bridgewater	National avg.	Difference
Haircut	$18.50	$20.27	8.7%
Beauty Salon	$51.00	$40.39	26.3%
Toothpaste	$2.44	$2.36	3.3%
Shampoo	$1.03	$1.08	4.0%
Movie	$12.85	$10.99	17.0%
Bowling	$19.39	$15.49	25.2%

Groceries

Item	Bridgewater	National avg.	Difference
Ground Beef	$3.74	$4.30	12.9%
Fried Chicken	$1.57	$1.40	12.0%
Milk	$2.42	$2.20	10.0%
Potatoes	$3.33	$3.22	3.4%
Pizza	$10.55	$10.74	1.8%
Beer	$10.39	$9.60	8.2%

Health Care

Item	Bridgewater	National avg.	Difference
Optometrist	$120.00	$109.73	9.4%
Doctor	$130.00	$118.34	9.9%
Dentist	$125.00	$100.94	23.8%
Ibuprofen	$9.70	$9.93	2.4%
Lipitor	$473.33	$469.53	0.8%

Housing

Item	Bridgewater	National avg.	Difference
Home Price	$209,200.00	$184,700.00	13.3%
Avg. Mortgage Payment	$1,351.59	$1,229.62	9.9%
Apartment Rent	$820.00	$949.00	13.6%

Transportation

Item	Bridgewater	National avg.	Difference
Gasoline	$2.45	$2.71	9.7%
Tire Balancing	$37.83	$51.86	27.0%

Utilities

Item	Bridgewater	National avg.	Difference
All Electricity	$177.01	$170.84	3.6%
Phone	$181.35	$187.18	3.1%

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	Population	Cost of Living Index	National Avg.
Churchville, VA	67	95	4.7%
Harriston, VA	984	92	8.1%
Verona, VA	3,551	96	3.9%
Grottoes, VA	2,751	97	3.3%
Harrisonburg, VA	51,979	101	0.9%
Bridgewater, VA	5,906	102	2.1%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Pontotoc, MS	5,906	80	20.3%
Ramblewood, NJ	5,906	122	21.7%
Potomac Mills, VA	5,909	119	19.0%
Cherryville, NC	5,901	89	10.7%
New Brighton, PA	5,911	86	13.6%
Bridgewater, VA	5,906	102	2.1%

Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.