Fair Lakes, VA Cost Of Living
Cost Of Living In Fair Lakes, VA Summary
Cost of living in Fair Lakes research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Fair Lakes is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Virginia, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Fair Lakes is 151, with 100 being the average.
The cost of living index in Fair Lakes is 1.5x higher than the national average.
Fair Lakes ranks as the #142 cheapest in Virginia out of 190.
Fair Lakes ranks as the #5,719 cheapest out of 6,489 in the US.
The median home value in Fair Lakes is $646,121.
The median income in Fair Lakes is $130,789.
Table Of Contents
Fair Lakes's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Fair Lakes, VA?
According to the most recent data on the cost of living, Fair Lakes has an overall cost of living index of 151, which is 1.5x higher than the national index of 100.
Compared to Virginia, Fair Lakes has a cost of living index that's 1.4x higher than Virginia's index of 110.
The standard of living in Fair Lakes ranks as #142 most affordable out of the 190 places we measured in Virginia. By definition, that implies Fair Lakes ranks as the #48 most expensive place in the Old Dominion.
For more reading on life in Fair Lakes, check out:
In Virginia
In America
Fair Lakes Cost Of Living Vs. Virginia
Six factors go into calculating the cost of living index in Fair Lakes. Here is how it fairs on each of the criteria:
The Services index in Fair Lakes is 108.
The Groceries index in Fair Lakes is 116.
The Health index in Fair Lakes is 110.
The Housing index in Fair Lakes is 260.
The Transportation index in Fair Lakes is 102.
The Utilities index in Fair Lakes is 102.
| Living Expense | Fair Lakes | Virginia | National Average | |
|---|---|---|---|---|
| Overall | 151 | 110 | 100 | |
| Services | 108 | 101 | 100 | |
| Groceries | 116 | 99 | 100 | |
| Health | 110 | 98 | 100 | |
| Housing | 260 | 130 | 100 | |
| Transportation | 102 | 94 | 100 | |
| Utilities | 102 | 104 | 100 | |
Fair Lakes, VA Housing Cost Breakdown
Housing swings affordability the most between places in Virginia, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Fair Lakes is $646,121.
The Median Rent in Fair Lakes is $2,325.
The Median Income in Fair Lakes is $130,789.
The Home Value To Income in Fair Lakes is 4.9x.
The Rent To Monthly Income in Fair Lakes is 0.21x.
| Statistic | Fair Lakes | Virginia | United States |
|---|---|---|---|
| Median Home Value | $646,121 | $404,962 | $303,400 |
| Median Rent | $2,325 | $1,514 | $1,348 |
| Median Income | $130,789 | $90,974 | $78,538 |
| Home Value To Income | 4.9x | 4.5x | 3.9x |
| Rent To Monthly Income | 0.21x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Fair Lakes, VA Costs By Category
Detailed Fair Lakes Services Costs Vs. Virginia
| Item | Fair Lakes | Virginia |
|---|---|---|
| Shampoo | $1.22 | $1.28 |
| Movie | $11.2 | $12.13 |
| Bowling | $19.22 | $18 |
| Haircut | $18.62 | $24.26 |
| Beauty Salon | $35.2 | $45.56 |
Detailed Fair Lakes Groceries Costs Vs. Virginia
| Item | Fair Lakes | Virginia |
|---|---|---|
| Ground Beef | $5.49 | $5.84 |
| Fried Chicken | $1.37 | $1.57 |
| Milk | $4.73 | $4.67 |
| Potatoes | $4.76 | $4.93 |
| Pizza | $12.47 | $12.09 |
| Beer | $10.83 | $10.41 |
| Toothpaste | $3.73 | $3.7 |
Detailed Fair Lakes Health Costs Vs. Virginia
| Item | Fair Lakes | Virginia |
|---|---|---|
| Optometrist | $109.25 | $125.68 |
| Doctor | $94.1 | $135.78 |
| Dentist | $109.57 | $113.29 |
Detailed Fair Lakes Transportation Costs Vs. Virginia
| Item | Fair Lakes | Virginia |
|---|---|---|
| Gasoline | $3.29 | $3.46 |
| Tire Balancing | $62.25 | $59.92 |
Detailed Fair Lakes Utilities Costs Vs. Virginia
| Item | Fair Lakes | Virginia |
|---|---|---|
| All Electricity | $248.7 | $193.99 |
| Phone | $185.37 | $192.25 |
Fair Lakes SnackAbility
/10
Cost Of Living In Cities Around Fair Lakes
The cost of living varies in the cities and towns around Fair Lakes. Here's a quick look at the cost of living in the most populous nearby places:
Centreville, VA has a cost of living index of 146, 1.0x Fair Lakes.
Bethesda, MD has a cost of living index of 202, 1.3x Fair Lakes.
Oakton, VA has a cost of living index of 168, 1.1x Fair Lakes.
| City | Population | Cost Of Living | Vs. Fair Lakes |
|---|---|---|---|
| Centreville, VA | 71,885 | 146 | 1.0x |
| Bethesda, MD | 67,403 | 202 | 1.3x |
| Oakton, VA | 36,776 | 168 | 1.1x |
| Fair Oaks, VA | 35,472 | 145 | 1.0x |
| Fairfax, VA | 24,478 | 157 | 1.0x |
| North Potomac, MD | 23,994 | 172 | 1.1x |
| Chantilly, VA | 23,744 | 152 | 1.0x |
| Franklin Farm, VA | 18,509 | 171 | 1.1x |
| Fairfax Station, VA | 12,298 | 176 | 1.2x |
| Lowes Island, VA | 11,199 | 170 | 1.1x |
