Neabsco, Virginia Cost Of Living

Buy Rent

F

Overall 34%

Goods & Services 12%

Housing 97%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; 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	Neabsco	Virginia	National
Cost of living	134	107	100
Goods & Services	112	100	100
Groceries	112	96	100
Health care	102	100	100
Housing	197	130	100
Transportation	99	93	100
Utilities	93	97	100

Key findings

The cost of living in Neabsco is 24% higher than the Virginia average
The cost of living in Neabsco is 34% higher than the national average
Neabsco housing is 97% higher than the national average
Virginia general sales tax is 4% higher than the national average
Virginia state income tax is 19% 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

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$128,672	$10,723	$3,002	$3,861
Renters	$90,365	$7,530	$2,108	$2,711

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Neabsco, VA, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Neabsco homeowners, is $128,672. This would allow for a maximum of $3,002 per month to be spent on housing costs. For renters, the median monthly income is $90,365 which would result in a maximum of $2,108 to be spent on rental costs.

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	Neabsco	National avg.	Difference
Haircut	$26.68	$20.27	31.6%
Beauty Salon	$64.51	$40.39	59.7%
Toothpaste	$3.09	$2.36	30.9%
Shampoo	$1.09	$1.08	1.4%
Movie	$13.27	$10.99	20.7%
Bowling	$23.12	$15.49	49.2%

Groceries

Item	Neabsco	National avg.	Difference
Ground Beef	$4.36	$4.30	1.6%
Fried Chicken	$1.56	$1.40	11.2%
Milk	$2.81	$2.20	27.7%
Potatoes	$4.03	$3.22	25.1%
Pizza	$11.82	$10.74	10.0%
Beer	$10.51	$9.60	9.5%

Health Care

Item	Neabsco	National avg.	Difference
Optometrist	$106.32	$109.73	3.1%
Doctor	$128.64	$118.34	8.7%
Dentist	$105.17	$100.94	4.2%
Ibuprofen	$10.17	$9.93	2.4%
Lipitor	$444.67	$469.53	5.3%

Housing

Item	Neabsco	National avg.	Difference
Home Price	$357,800.00	$184,700.00	93.7%
Avg. Mortgage Payment	$2,857.81	$1,229.62	132.4%
Apartment Rent	$1,929.00	$949.00	103.3%

Transportation

Item	Neabsco	National avg.	Difference
Gasoline	$2.65	$2.71	2.4%
Tire Balancing	$52.44	$51.86	1.1%

Utilities

Item	Neabsco	National avg.	Difference
All Electricity	$152.84	$170.84	10.5%
Phone	$181.41	$187.18	3.1%

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.
Rose Hill CDP (Lee County), VA	708	90	9.6%
Woodlawn CDP (Carroll County), VA	2,247	92	7.7%
Potomac Heights, MD	1,191	94	6.4%
Wakefield town, VA	810	96	4.3%
Belle Haven town, VA	562	100	0.2%
Neabsco, VA	17,038	134	33.6%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Knik-Fairview, AK	17,038	124	23.9%
Pecan Grove, TX	17,037	104	4.0%
Durant, OK	17,042	87	12.7%
St. Michael, MN	17,045	113	13.4%
Selwyn, ON	17,047	n/a
Neabsco, VA	17,038	134	33.6%

Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.