An Overview of Cost of Living in Harrisonburg, VA
Are you thinking about relocating, but curious about the potential cost of living in Harrisonburg? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Harrisonburg stands at 104, making it 4% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
In Harrisonburg, 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 Harrisonburg will resemble that of an average city, contributing to a manageable cost of living.
Is Harrisonburg Affordable?
Is Harrisonburg 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 Harrisonburg, for instance, where the median home price falls 19.2% higher than the national average, and monthly rent rates are 4% lower than usual. Additionally, median income levels contribute to the equation, with Harrisonburg flaunting a median household income of $49,117, 11.2% lower than the national norm.
What Factors can Influence the Cost of Living in Harrisonburg?
Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety 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 farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall 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 Harrisonburg, healthcare costs are 4.3% lower than the national average.
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Harrisonburg, the groceries index is 0.6% lower than the national average.
Where is the Data From?
The Harrisonburg cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.
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