The cost of living in Virginia is 8.9% higher than the US average. According to MIT, the required living wage for a family of four with two working parents in Virginia is $97,710 vs the national average for a family of four with two working parents of $89,744. The median income of a Virginia household is $76,398.
The average home price in Virginia is $282,800, which is higher than the US average home price of $229,800. Median rent in Virginia is $1,257/mo which is higher than the US average rent of $1,096/mo. If you want to adjust homes prices to local incomes, the ratio of home prices to median household income is about 3.7 to 1. That means it takes roughly 3.7 years of a full salary to pay off a house. That compares to the national average of 3.5 to 1.
All in all, Virginia has a high cost of living compared to America as a whole.
No, Virginia is not a dangerous state as it ranks as the #7 safest state in the United States based on our analysis of the latest FBI Crime Data. The violent crime rate in Virginia ranks 45th most dangerous in the United States -- 43.58% better than US average violent crime rate. The property crime rate in the Old Dominion ranks 40th most dangerous in the United States -- 25.48% better than US average property crime rate. The latest reporting year from the FBI was 2022.
No, Virginia Beach is not a dangerous city. Virginia Beach ranks as the #48 safest out of 328 major cities over 100,000 people in the United States based on our analysis of the latest FBI Crime Data. Keep in mind that are always safe and dangerous parts of any city, so even though Virginia Beach might be considered safe you still need to be aware of where you are. For example, US Navy Little Creek Amphibious Base is the safest in Virginia Beach, while North Central is considered dangerous by many based on recent crime stats.
Compared to other big cities, the violent crime rate in Virginia Beach ranks 320th highest in America -- 84.21% better than US average violent crime rate. The property crime rate in the ranks 268th highest in the United States -- 40.98% better than US average property crime rate. Note the latest reporting year from the FBI was 2022 and that no city in America is "dangerous". Despite the uptick in murders, it's nothing like you'd see in Tijuana or Caracas where the murder rate is 2x any American city.
The county in Virginia with the lowest cost of living is Clarke County. The average living wage in Clarke County is $100,569 according to MIT data. Clarke County has the lowest cost of living because it has relatively less expensive childcare and housing costs compared to Virginia as a whole. Childcare costs $15,996 a year in Clarke County for two children compared to the Virginia average of $19,363. Housing costs, defined as a blend of the average rent and average mortgage payment, are $21,180 per year in Clarke County compared to $15,304 on average in Virginia.
The cheapest housing market in Virginia is Covington. The average home value in Covington is $70,400, the lowest in the state. The average home value in Virginia is $282,800, almost 4.0 times higher than Covington.