| Index | Charlottesville | Virginia | National |
| Cost of living | 122 | 111 | 100 |
| Groceries | 104 | 103 | 100 |
| Health care | 104 | 103 | 100 |
| Housing | 165 | 129 | 100 |
| Transportation | 103 | 105 | 100 |
| Utilities | 106 | 104 | 100 |
| Lifestyle & Entertainment | 101 | 103 | 100 |
| Household Items | 104 | 102 | 100 |
| Education & Childcare | 106 | 109 | 100 |
Getting a feel for the cost of living in Charlottesville is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Charlottesville is 122, which is 22% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
If you prioritize affordability when seeking a new place to live, Charlottesville may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Charlottesville falls into this category, which may not align with your preferences for a budget-friendly living environment.
Housing costs are a major factor in the Charlottesville cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 64.8% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.
When it comes to knowing a city, its residents are the experts. We conducted a survey with 17 locals to understand their opinions on the cost of living in Charlottesville. The results indicated that 41% found it reasonably priced with decreasing prices of goods and services, while 59% viewed it as quite expensive, with increasing prices.
Is Charlottesville affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Charlottesville, the median home price is 82.4% higher than the national average and monthly rent prices are 23.8% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Charlottesville boasting a median household income of $88,197, 8.4% higher than the national average.
Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Charlottesville, the housing index comes in at 64.8% higher than the national average.
Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Charlottesville, the transportation index is 3.4% higher than the national average.
Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday household expenses like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Charlottesville starts at 5.3% and the income tax rates start at 2%.
The cost of living data for Charlottesville shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $144,587 | $12,049 | $3,373 | $4,338 |
| Renters | $60,236 | $5,020 | $1,405 | $1,807 |
| State | General Sales Tax | With Max Surtax |
| Virginia | 5.3% | 6% |
| State | Income Tax (Low) | Income Tax (High) |
| Virginia | 2% | 5.75% |
| City | Population | Cost of Living Index | National Avg. |
| Palmyra, VA | 95 | 104 | 4.0% |
| Free Union, VA | 89 | 104 | 4.0% |
| Esmont, VA | 755 | 104 | 3.6% |
| Twin Lakes, VA | 1,566 | 105 | 5.2% |
| Ruckersville, VA | 1,282 | 109 | 9.0% |
| Charlottesville, VA | 48,748 | 122 | 22.2% |
| City | Population | Cost of Living Index | National Avg. |
| Shawinigan, QC | 48,810 | n/a | |
| East Providence, RI | 48,849 | 108 | 8.4% |
| El Dorado Hills, CA | 48,625 | 174 | 74.4% |
| Beavercreek, OH | 48,876 | 102 | 1.9% |
| Burleson, TX | 48,615 | 104 | 4.0% |
| Charlottesville, VA | 48,748 | 122 | 22.2% |
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