Cost Of Living in Rocky Mount, VA

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A+

7%

Overall NAT. AVG.

4%

Goods & Services NAT. AVG.

22%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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	Rocky Mount	Virginia	National
Cost of living	93	109	100
Goods & Services	96	100	100
Groceries	97	101	100
Health care	89	99	100
Housing	78	130	100
Transportation	98	95	100
Utilities	116	104	100

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Cost Of Living Quick Facts

The cost of living in Rocky Mount is 15% lower than the Virginia average
The cost of living in Rocky Mount is 7% lower than the national average
Rocky Mount housing is 22% lower than the national average
Virginia general sales tax is 4% higher than the national average
Virginia state income tax is 23% 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	$51,891	$4,324	$1,211	$1,557
Renters	$29,510	$2,459	$689	$885

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Rocky Mount, VA, as well as what the overall cost of living might be. 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 payments and not more than 36 percent of income on all expenses and debts. In Rocky Mount, homeowners have a median income of $51,891. Using that number, a maximum of $1,211 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $29,510, which means there is a maximum of $689 to be spent on the costs of renting a home or apartment.

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	Rocky Mount	National avg.	Difference
Haircut	$14.40	$24.26	40.6%
Beauty Salon	$33.51	$45.56	26.5%
Toothpaste	$3.66	$3.70	1.1%
Shampoo	$1.20	$1.28	6.0%
Movie	$13.42	$12.13	10.6%
Bowling	$13.22	$18.00	26.5%

Groceries

Item	Rocky Mount	National avg.	Difference
Ground Beef	$5.36	$5.84	8.3%
Fried Chicken	$1.43	$1.57	9.3%
Milk	$4.59	$4.67	1.8%
Potatoes	$4.93	$4.93	0.0%
Pizza	$14.11	$12.09	16.7%
Beer	$10.63	$10.41	2.1%

Health Care

Item	Rocky Mount	National avg.	Difference
Optometrist	$121.62	$125.68	3.2%
Doctor	$150.70	$135.78	11.0%
Dentist	$109.15	$113.29	3.7%
Ibuprofen	$10.39	$10.65	2.5%
Lipitor	$484.30	$468.60	3.4%

Housing

Item	Rocky Mount	National avg.	Difference
Home Price	$142,400.00	$184,700.00	22.9%
Avg. Mortgage Payment	$1,912.27	$2,346.69	18.5%
Apartment Rent	$762.00	$949.00	19.7%

Transportation

Item	Rocky Mount	National avg.	Difference
Gasoline	$3.29	$3.46	4.9%
Tire Balancing	$41.28	$59.92	31.1%

Utilities

Item	Rocky Mount	National avg.	Difference
All Electricity	$240.27	$193.99	23.9%
Phone	$184.83	$192.25	3.9%

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.
Ferrum, VA	2,148	82	18.2%
Oak Level, VA	466	84	15.8%
Henry Fork, VA	1,147	87	13.0%
Boones Mill, VA	149	93	6.6%
Westlake Corner, VA	1,748	117	16.8%
Rocky Mount, VA	4,727	93	7.5%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Santa Ynez, CA	4,728	196	96.0%
Cheboygan, MI	4,725	84	16.1%
Bloomfield, WI	4,725	95	4.6%
Hebbronville, TX	4,730	77	22.7%
Gang Mills, NY	4,723	107	7.1%
Rocky Mount, VA	4,727	93	7.5%