Cost of living in Galax 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 Galax 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 Galax is 81, with 100 being the average.
The cost of living index in Galax is 0.8x lower than the national average.
Galax ranks as the #5 cheapest in Virginia out of 186.
Galax ranks as the #290 cheapest out of 6,412 in the US.
The median home value in Galax is $100,000.
The median income in Galax is $39,808.
According to the most recent data on the cost of living, Galax has an overall cost of living index of 81, which is 0.8x lower than the national index of 100.
Compared to Virginia, Galax has a cost of living index that's 0.8x lower than Virginia's index of 102.
The standard of living in Galax ranks as #5 most affordable out of the 186 places we measured in Virginia. By definition, that implies Galax ranks as the #181 most expensive place in the Old Dominion.
For more reading on life in Galax, check out:
Six factors go into calculating the cost of living index in Galax. Here is how it fairs on each of the criteria:
The Services index in Galax is 97.
The Groceries index in Galax is 93.
The Health index in Galax is 95.
The Housing index in Galax is 57.
The Transportation index in Galax is 90.
The Utilities index in Galax is 84.
|Living Expense||Galax||Virginia||National Average|
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 2017-2021. The key points are:
The Median Home Value in Galax is $100,000.
The Median Rent in Galax is $569.
The Median Income in Galax is $39,808.
The Home Value To Income in Galax is 2.5x.
The Rent To Monthly Income in Galax is 0.17x.
|Median Home Value||$100,000||$295,500||$244,900|
|Home Value To Income||2.5x||3.7x||3.5x|
|Rent To Monthly Income||0.17x||0.2x||0.2x|
The cost of living varies in the cities and towns around Galax. Here's a quick look at the cost of living in the most populous nearby places:
Blacksburg, VA has a cost of living index of 107, 1.3x Galax.
Christiansburg, VA has a cost of living index of 94, 1.2x Galax.
Radford, VA has a cost of living index of 91, 1.1x Galax.