Virginia Beach, VA Cost Of Living

Virginia Beach 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	Virginia Beach	Virginia	National
Cost of living index	118	108	100
Index	Virginia Beach	Virginia	National
Goods & Services index	110	100	100
Groceries index	104	96	100
Health care index	114	100	100
Housing index	139	130	100
Transportation index	106	91	100
Utilities index	113	101	100

The above illustration supplies generalized information for the Virginia Beach, VA cost of living index. Compared to other cities in Virginia and cities across the country, the cost of living index in Virginia Beach, VA is 118, which is 10% higher than the Virginia average and 18% higher 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 Virginia Beach, VA are 11% higher than the average for Virginia and 10% higher than the rest of the country.

Did you know?

The cost of living in Virginia Beach is 10% higher than the Virginia average.
The cost of living in Virginia Beach is 18% higher than the national average.
The cost of housing in Virginia Beach is 39% higher 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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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 Virginia Beach, 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 Virginia Beach, VA, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Virginia Beach, 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	$83,236	$6,936	$1,942	$2,497
Renters	$48,771	$4,064	$1,138	$1,463

A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Virginia Beach, VA, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Virginia Beach, VA has a median income of about $83,236 for people who own homes. Based on that number, a person should spend a maximum of $1,942 on expenses related to housing. Renters have a slightly different median income, which is $48,771. Based on this average, renters should spend no more than $1,138 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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%

The Virginia sales tax and Virginia income tax rates should definitely be considered when determining the overall cost of living in Virginia Beach, 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

Item	Virginia Beach	National avg.	Difference
Haircut	$12.00	$16.09	25.4%
Beauty Salon	$35.00	$37.33	6.2%
Toothpaste	$2.47	$2.45	0.9%
Shampoo	$0.98	$1.00	1.7%
Movie	$11.00	$10.28	7.0%
Bowling	$6.25	$4.93	26.7%

Groceries

Item	Virginia Beach	National avg.	Difference
Ground Beef	$3.12	$3.80	18.0%
Fried Chicken	$1.27	$1.40	9.1%
Milk	$2.05	$2.01	1.9%
Potatoes	$3.34	$3.01	11.0%
Pizza	$8.99	$9.89	9.1%
Beer	$8.63	$8.90	3.0%

Health Care

Item	Virginia Beach	National avg.	Difference
Optometrist	$96.67	$102.16	5.4%
Doctor	$128.89	$108.36	18.9%
Dentist	$113.78	$92.53	23.0%
Ibuprofen	$8.99	$9.28	3.1%
Lipitor	$432.03	$425.82	1.5%

Housing

Item	Virginia Beach	National avg.	Difference
Home Price	$262,200.00	$184,700.00	42.0%
Avg. Mortgage Payment	$1,193.99	$1,202.44	0.7%
Apartment Rent	$1,258.00	$949.00	32.6%

Transportation

Item	Virginia Beach	National avg.	Difference
Gasoline	$2.28	$2.24	1.7%
Tire Balancing	$53.33	$46.29	15.2%

Utilities

Item	Virginia Beach	National avg.	Difference
All Electricity	$186.28	$165.96	12.2%
Phone	$33.07	$28.68	15.3%

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.
Virginia Beach, VA	449,733	118	18%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Colorado Springs, CO	448,759	100	0%
Atlanta, GA	456,378	105	5%
Omaha, NE	443,072	89	-11%
Raleigh, NC	441,326	105	5%
Miami, FL	432,622	109	9%
Virginia Beach, VA	449,733	118	18%

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

Virginia Beach, VA Cost of Living