| Index | Hampton | Virginia | National |
| Cost of living | 105 | 111 | 100 |
| Groceries | 102 | 103 | 100 |
| Health care | 105 | 103 | 100 |
| Housing | 106 | 129 | 100 |
| Transportation | 102 | 105 | 100 |
| Utilities | 106 | 104 | 100 |
| Lifestyle & Entertainment | 104 | 103 | 100 |
| Household Items | 103 | 102 | 100 |
| Education & Childcare | 113 | 109 | 100 |
Knowing the cost of living in Hampton allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Hampton stands at 105, marking it 5% higher than the national average.
Everyday expenditures like food, housing, lifestyle expenses, transportation and health care in Hampton are priced in a manner consistent with other areas. This means that residents of Hampton can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.
Nobody knows their city better than the people who actually live there. So, we asked 12 local residents how they would rate the cost of living in Hampton and this is how they responded. 58% of people said that the cost of living was affordable, with prices decreasing, while 42% of people said that the cost of living was very expensive and prices continue to rise.
Is Hampton affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Hampton, for instance, where the median home price falls 2.1% higher than the national average, and monthly rent rates are 15.3% higher than usual. Additionally, median income levels contribute to the equation, with Hampton flaunting a median household income of $85,788, 5.5% higher than the national norm.
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 Hampton, the utilities index registers 6.4% higher than the national average.
Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, 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 farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.
Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Hampton, the general sales tax rate starts at 5.3%, and income tax rates begin at 2%.
The Hampton cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| 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 | $111,427 | $9,286 | $2,600 | $3,343 |
| Renters | $60,535 | $5,045 | $1,412 | $1,816 |
| 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. |
| Benns Church, VA | 663 | 105 | 4.6% |
| Portsmouth, VA | 98,194 | 104 | 3.5% |
| Newport News, VA | 184,134 | 105 | 5.3% |
| Norfolk, VA | 250,142 | 109 | 9.3% |
| Smithfield, VA | 8,784 | 118 | 17.7% |
| Hampton, VA | 138,888 | 105 | 5.0% |
| City | Population | Cost of Living Index | National Avg. |
| Trois-Rivières, QC | 138,766 | n/a | |
| Warren, MI | 139,183 | 93 | 7.4% |
| Ajax, ON | 138,303 | n/a | |
| Gainesville, FL | 138,122 | 104 | 3.9% |
| Coral Springs, FL | 137,865 | 132 | 31.5% |
| Hampton, VA | 138,888 | 105 | 5.0% |
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