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.
An overview of the general cost of living index for Charlottesville, VA is displayed above for your reference. Residents in Charlottesville, VA enjoy a cost of living index of 116. This index is 8% higher than the Virginia average, and 16% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Charlottesville, VA, the average cost of goods and services is 17% higher than it is in Virginia, and it is 16% higher than the national average.
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The cost of living in Charlottesville is 8% higher than the Virginia average.
The cost of living in Charlottesville is 16% higher than the national average.
The cost of housing in Charlottesville is 39% higher 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.
Compare Charlottesville, VA Cost of living To Other Cities
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
The salary calculator is meant to help you compare your salary in Charlottesville, 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 Charlottesville, VA, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Charlottesville, 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
Max Budget (28% DTI)
Max Budget (36% DTI)
The affordability of the housing market in Charlottesville, 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 Charlottesville, VA homeowners, the median income is $83,557. This indicates that a monthly maximum of $1,950 should be spent by homeowners on all housing related costs. Renters have a median income of $33,332. This indicates that renters should have a maximum of $778 used for their rent related monthly costs.
Virginia Sales Tax
General Sales Tax
With Max Surtax
Virginia Income Tax
Income Tax (Low)
Income Tax (High)
When considering the overall cost of living expenses in Charlottesville, VA, it's important to take into account the sales tax for Virginia, as well as the rate for income tax in Virginia. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Virginia is 6%, and the sales tax in the state of Virginia is 5.3%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Virginia starts from 2% and goes up to 5.75%.
Goods & Services
Avg. Mortgage Payment
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.