C
9%
Overall NAT. AVG.
0%
Goods & Services NAT. AVG.
30%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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 Glen Allen Virginia National
Cost of living109109100
Goods & Services100100100
Groceries101101100
Health care9699100
Housing130130100
Transportation10095100
Utilities105104100

An Overview of Cost of Living in Glen Allen, VA

Getting a feel for the cost of living in Glen Allen 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 Glen Allen is 109, which is 9% 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.

In Glen Allen, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Glen Allen will resemble that of an average city, contributing to a manageable cost of living.

Housing costs significantly influence the Glen Allen cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 29.8%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Is Glen Allen Affordable?

Is Glen Allen an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Glen Allen is 29.5% higher than the national average, while the average monthly rent prices are 30.8% higher than average. The affordability of any location can also be influenced by median income levels. Glen Allen has a median household income of $77,599, which is 40.3% higher than the national average.

What Factors can Influence the Cost of Living in Glen Allen?

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Glen Allen, the utilities index registers 4.8% higher than the national average.

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Glen Allen, the transportation index is 0.3% lower than the national average.

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Glen Allen, the groceries index registers 0.5% higher than the national average.

Where is the Data From?

The cost of living data in Glen Allen displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Glen Allen is equal to the Virginia average
  • The cost of living in Glen Allen is 9% higher than the national average
  • Glen Allen housing is 30% higher than the national average
  • Virginia general sales tax is 4% higher than the national average
  • Virginia state income tax is 23% lower than the national average

Most Affordable Places to Live in and Around Glen Allen

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Compare Glen Allen, VA Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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$86,966$7,247$2,029$2,609
      Renters$66,977$5,581$1,563$2,010
      A good indicator of the general affordability of housing in Glen Allen, VA, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Glen Allen, the median monthly income is $86,966 for those who own their own homes. Under the standard rule, that income level would allow for $2,029 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $66,977, per the median income in the area. That would allow for renters to spend up to $1,563 on monthly rental expenses.

      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 Glen Allen National avg. Difference
      Haircut $20.00$24.2617.6%
      Beauty Salon $54.17$45.5618.9%
      Toothpaste $3.72$3.700.5%
      Shampoo $1.26$1.281.3%
      Movie $13.31$12.139.7%
      Bowling $24.17$18.0034.3%

      Groceries

      Item Glen Allen National avg. Difference
      Ground Beef $5.54$5.845.2%
      Fried Chicken $1.44$1.578.5%
      Milk $4.63$4.671.0%
      Potatoes $5.27$4.936.8%
      Pizza $12.72$12.095.3%
      Beer $10.64$10.412.2%

      Health Care

      Item Glen Allen National avg. Difference
      Optometrist $95.44$125.6824.1%
      Doctor $122.83$135.789.5%
      Dentist $109.67$113.293.2%
      Ibuprofen $10.76$10.651.0%
      Lipitor $489.65$468.604.5%

      Housing

      Item Glen Allen National avg. Difference
      Home Price $239,100.00$184,700.0029.5%
      Avg. Mortgage Payment $2,083.79$2,346.6911.2%
      Apartment Rent $1,241.00$949.0030.8%

      Transportation

      Item Glen Allen National avg. Difference
      Gasoline $3.27$3.465.5%
      Tire Balancing $60.00$59.920.1%

      Utilities

      Item Glen Allen National avg. Difference
      All Electricity $227.22$193.9917.1%
      Phone $185.33$192.253.6%
      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.
      Montrose, VA7,639946.2%
      Sandston, VA6,833972.7%
      Highland Springs, VA15,000982.0%
      East Highland Park, VA16,499981.8%
      Lakeside, VA12,7491022.3%
      Glen Allen, VA14,8421099.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      West Richland, WA14,84211616.3%
      Natchez, MS14,8548317.1%
      Oldsmar, FL14,8241077.1%
      Kilgore, TX14,824919.0%
      Gaspé, QC14,815n/a 
      Glen Allen, VA14,8421099.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.