Woodlawn CDP (Carroll County) cost of living index

The above illustration supplies generalized information for the Woodlawn CDP (Carroll County), VA cost of living index. Compared to other cities in Virginia and cities across the country, the cost of living index in Woodlawn CDP (Carroll County), VA is 94, which is 13% lower than the Virginia average and 6% 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 Woodlawn CDP (Carroll County), VA are 9% higher than the average for Virginia and 9% higher than the rest of the country.

Find Real Estate Listings In Woodlawn CDP (Carroll County)

New Real Estate Listings In Woodlawn CDP (Carroll County)

Real Estate Listings In Woodlawn CDP (Carroll County)

The best places in Virginia

Salary Calculator

Using the salary calculator lets you compare the salary you earn in Woodlawn CDP (Carroll County), VA to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Woodlawn CDP (Carroll County), VA, you have to earn a higher income in order to still have the same standard of living. To operate the Woodlawn CDP (Carroll County), VA salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

The affordability of the housing market in Woodlawn CDP (Carroll County), VA as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Woodlawn CDP (Carroll County), VA homeowners, the median income is $54,718. This indicates that a monthly maximum of $1,277 should be spent by homeowners on all housing related costs. Renters have a median income of $41,563. This indicates that renters should have a maximum of $970 used for their rent related monthly costs.

Virginia Sales Tax

Virginia Income Tax

When considering the overall cost of living expenses in Woodlawn CDP (Carroll County), VA, it's important to take into account the sales tax for Virginia, as well as the rate for income tax in Virginia. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Virginia is 6%, and the sales tax in the state of Virginia is 5.3%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Virginia starts from 2% and goes up to 5.75%.

Goods & Services

Groceries

Health Care

Housing

Transportation

Utilities

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

Cities with similar population

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