| Index | Fredericksburg | Virginia | National |
| Cost of living | 129 | 111 | 100 |
| Groceries | 103 | 103 | 100 |
| Health care | 103 | 103 | 100 |
| Housing | 185 | 129 | 100 |
| Transportation | 108 | 105 | 100 |
| Utilities | 106 | 104 | 100 |
| Lifestyle & Entertainment | 108 | 103 | 100 |
| Household Items | 101 | 102 | 100 |
| Education & Childcare | 107 | 109 | 100 |
Understanding the cost of living in Fredericksburg can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Fredericksburg cost of living index is 129, which is 29% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Fredericksburg is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Fredericksburg falls into this category, which may not align with your goal of finding a budget-friendly living environment.
When it comes to the cost of living in Fredericksburg, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 84.9% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
The most insightful perspective on a city comes from its residents. We recently surveyed 16 locals to gauge their perception of the cost of living in Fredericksburg. The feedback revealed that 25% of respondents found the cost of living to be reasonable, with prices on the decline, while 75% regarded it as notably expensive with prices that continue to rise.
Wondering if Fredericksburg is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Fredericksburg, for example, the median home price is 106.4% higher than what folks pay nationally, and monthly rent is 34.7% higher than the usual rates. Plus, income levels matter too, with Fredericksburg boasting a median household income of $103,458, which is 27.2% higher than the national average.
Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.
Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Fredericksburg, healthcare costs are 3% 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 Fredericksburg, the transportation index is 7.7% higher than the national average.
The Fredericksburg cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as directional city-to-city comparisons.
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| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $184,586 | $15,382 | $4,307 | $5,538 |
| Renters | $75,997 | $6,333 | $1,773 | $2,280 |
| 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. |
| Boswell's Corner, VA | 1,479 | 94 | 5.6% |
| Lake Wilderness, VA | 2,929 | 118 | 18.3% |
| Spotsylvania Courthouse, VA | 5,162 | 119 | 19.0% |
| Fairview Beach, VA | 475 | 120 | 20.0% |
| Lake of the Woods, VA | 8,800 | 120 | 19.8% |
| Fredericksburg, VA | 29,849 | 129 | 28.8% |
| City | Population | Cost of Living Index | National Avg. |
| Rexburg, ID | 29,874 | 104 | 4.2% |
| Laplace, LA | 29,883 | 95 | 5.2% |
| Port Huron, MI | 29,803 | 87 | 12.8% |
| Ridgecrest, CA | 29,800 | 112 | 12.0% |
| Port Chester, NY | 29,796 | 150 | 49.6% |
| Fredericksburg, VA | 29,849 | 129 | 28.8% |
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