In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
A general overview of the cost of living index for Luray, VA is displayed above. In Luray, VA, the overall cost of living index is 96, which is 11% lower than the Virginia average and 4% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Luray, VA, the city's goods and services are 1% higher than the Virginia average and 1% higher than the U.S. average.
Find Real Estate Listings
New Real Estate Listings In Luray
Did you know?
The cost of living in Luray is 11% lower than the Virginia average.
The cost of living in Luray is 4% lower than the national average.
The cost of housing in Luray is 10% lower than the national average.
Virginia general sales tax is 4% higher than the national average.
Virginia state income tax is 10% lower than the national average.
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
Use the salary calculator to compare your current salary in Luray, VA to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Luray, VA, then you would need to earn more income in order to maintain the same standard of living. To use the Luray, VA salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.
Median Income & Debt-To-Income Ratio
Max Budget (28% DTI)
Max Budget (36% DTI)
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Luray, VA, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Luray, VA homeowners have a median income of $56,635. Using that number, you will come up with a maximum of $1,321 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $31,375, which means there is a maximum of $732 to be spent on the costs of renting a home or apartment.
Virginia Sales Tax
General Sales Tax
With Max Surtax
Virginia Income Tax
Income Tax (Low)
Income Tax (High)
The Virginia sales tax and Virginia income tax rates should definitely be considered when determining the overall cost of living in Luray, VA. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Virginia sales tax is 5.3% and the maximum surtax is 6%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Virginia income tax rates range from 2% to 5.75%.
Goods & Services
Avg. Mortgage Payment
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.