![]() For instance, a 40-year-old in Virginia will pay $446 per month for health insurance, while the national average is $495. Healthcare costs in Virginia are below the national average. Virginia’s income tax rate is progressive, with a minimum rate of 2% for taxable income under $17,000 and a rate of 5.75% for taxable income above $17,000. Virginia’s higher home values may result in property taxes more in line with the national average. ![]() However, property tax rates vary by county, ranging from 0.42% to 1.37%. Property taxes in Virginia are also below the national average, with a rate of 0.80% compared to the US average of 1.07%. The state’s sales tax rate is 5.6%, compared to the national average of 7.3%. Taxes in Virginia are relatively low compared to the rest of the country. For a meal at an inexpensive restaurant, your bill will be around $15, while a three-course meal for two at a mid-range restaurant will cost you around $60. Additionally, you’ll want to budget for eating out at the great restaurants Virginia has to offer. ![]() In Ashburn, food and grocery costs are 4.2% more expensive than in Woodbridge. The average monthly grocery bill in Richmond is around $300, but food costs will vary depending on where you live in the state. Food Costs in Virginiaįood costs in Virginia are slightly lower than the national average, so you can expect to pay less for groceries. Metro and has a 7-day regional bus pass for $17.50. If you prefer to use public transportation, there are several options available, including the Greater Richmond Transit Company, which offers an unlimited-ride 30-day pass for $60, and the Metrobus, which connects to the D.C. The average one-way commute time in Virginia is 28.2 minutes, which is slightly longer than the national average of 26.4 minutes. As of March 2021, gas prices in Virginia hit $3.07 a gallon, compared to the national average of $2.58 per gallon. If you’re commuting by car, be prepared for gas prices that are higher than the national average. Your total monthly utility costs should be around $414.25, not including any streaming services or your phone bill. For cable, you can expect to pay around $85 per month. Water costs around $70 per month, while the average cost for internet is $60. The monthly expense for electricity is $124.54, while the cost of natural gas is $74.32 per month. ![]() Virginia utility costs fall below the national average, so you can expect to pay less for electricity, natural gas, water, internet, and cable. While housing costs may be higher in Virginia, you may be able to save on your utility costs. For example, the average cost for a studio apartment in Virginia is $982, compared to the national average of $821 Utility Costs If you’re renting, be prepared for monthly rent payments that are higher than the national average. The good news is that home appreciation in Virginia is up by 4.1%. For instance, Great Falls has a median home value of $1,212,347, while Richmond has a more affordable median home value of $247,564. Of course, housing costs vary depending on the city and neighborhood, with some areas being more expensive than others. The median home cost in Virginia is $258,400, which is slightly higher than the national average of $231,200. When it comes to the cost of living in Virginia, housing will be your largest expense.
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