Montrose, VA Cost Of Living

Montrose cost of living index

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.
Index	Montrose	Virginia	National
Cost of living index	91	108	100
Index	Montrose	Virginia	National
Goods & Services index	101	100	100
Groceries index	88	96	100
Health care index	108	100	100
Housing index	75	130	100
Transportation index	92	91	100
Utilities index	106	101	100

The above illustration supplies generalized information for the Montrose, VA cost of living index. Compared to other cities in Virginia and cities across the country, the cost of living index in Montrose, VA is 91, which is 15% lower than the Virginia average and 9% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Montrose, VA are 1% higher than the average for Virginia and 1% higher than the rest of the country.

Did you know?

The cost of living in Montrose is 15% lower than the Virginia average.
The cost of living in Montrose is 9% lower than the national average.
The cost of housing in Montrose is 25% 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.

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Use the salary calculator to compare your current income in Montrose, VA to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Montrose, VA, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Montrose, VA salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$48,063	$4,005	$1,121	$1,442
Renters	$27,439	$2,287	$640	$823

If you want to find a good determining factor for the cost of living and the general affordability of housing in Montrose, VA, all you must look at 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 Montrose, VA, the median monthly income is $48,063 for those who own their own homes. Under the standard rule, that income level would allow for $1,121 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $27,439, per the median income in the area. That would allow for renters to spend up to $640 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%

For those who live in Montrose, VA and want to know what the true cost of living is, they ought to look at both the Virginia income tax rate and the Virginia sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Virginia, the sales tax is 5.3%, while the most you'll pay in surtax is 6%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Virginia, the income tax rate ranges between 2% to 5.75%.

Goods & Services

Item	Montrose	National avg.	Difference
Haircut	$18.75	$16.09	16.6%
Beauty Salon	$42.38	$37.33	13.5%
Toothpaste	$1.81	$2.45	25.9%
Shampoo	$0.85	$1.00	15.0%
Movie	$10.98	$10.28	6.8%
Bowling	$6.07	$4.93	23.1%

Groceries

Item	Montrose	National avg.	Difference
Ground Beef	$3.41	$3.80	10.3%
Fried Chicken	$1.00	$1.40	28.6%
Milk	$1.75	$2.01	12.7%
Potatoes	$2.69	$3.01	10.5%
Pizza	$10.52	$9.89	6.4%
Beer	$9.40	$8.90	5.7%

Health Care

Item	Montrose	National avg.	Difference
Optometrist	$110.15	$102.16	7.8%
Doctor	$109.61	$108.36	1.2%
Dentist	$115.26	$92.53	24.6%
Ibuprofen	$8.42	$9.28	9.3%
Lipitor	$403.84	$425.82	5.2%

Housing

Item	Montrose	National avg.	Difference
Home Price	$116,900.00	$184,700.00	36.7%
Avg. Mortgage Payment	$1,057.00	$1,202.44	12.1%
Apartment Rent	$956.00	$949.00	0.7%

Transportation

Item	Montrose	National avg.	Difference
Gasoline	$2.05	$2.24	8.6%
Tire Balancing	$43.13	$46.29	6.8%

Utilities

Item	Montrose	National avg.	Difference
All Electricity	$155.74	$165.96	6.2%
Phone	$34.95	$28.68	21.8%

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, State	Population	Cost of Living Index	National Avg.
Bensley, VA	6,031	92	-8%
Bellwood, VA	6,082	92	-8%
Sandston, VA	6,883	93	-7%
Highland Springs, VA	16,276	93	-7%
East Highland Park, VA	14,697	95	-5%
Montrose, VA	7,909	91	-9%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Bastrop, TX	7,909	92	-8%
Old Jefferson, LA	7,911	103	3%
Camp Hill, PA	7,912	104	4%
Ellwood City, PA	7,915	88	-12%
Broadview, IL	7,915	102	2%
Montrose, VA	7,909	91	-9%

Source: The Montrose, VA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Montrose, VA Cost of Living