Lake of the Woods, VA Cost Of Living
Cost Of Living In Lake of the Woods, VA Summary
Cost of living in Lake of the Woods 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 Lake of the Woods 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 Lake of the Woods is 118, with 100 being the average.
The cost of living index in Lake of the Woods is 1.2x higher than the national average.
Lake of the Woods ranks as the #81 cheapest in Virginia out of 190.
Lake of the Woods ranks as the #4,280 cheapest out of 6,489 in the US.
The median home value in Lake of the Woods is $423,824.
The median income in Lake of the Woods is $112,917.
Table Of Contents
Lake of the Woods's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Lake of the Woods, VA?
According to the most recent data on the cost of living, Lake of the Woods has an overall cost of living index of 118, which is 1.2x higher than the national index of 100.
Compared to Virginia, Lake of the Woods has a cost of living index that's 1.1x higher than Virginia's index of 110.
The standard of living in Lake of the Woods ranks as #81 most affordable out of the 190 places we measured in Virginia. By definition, that implies Lake of the Woods ranks as the #109 most expensive place in the Old Dominion.
For more reading on life in Lake of the Woods, check out:
In Virginia
In America
Lake of the Woods Cost Of Living Vs. Virginia
Six factors go into calculating the cost of living index in Lake of the Woods. Here is how it fairs on each of the criteria:
The Services index in Lake of the Woods is 102.
The Groceries index in Lake of the Woods is 97.
The Health index in Lake of the Woods is 98.
The Housing index in Lake of the Woods is 155.
The Transportation index in Lake of the Woods is 94.
The Utilities index in Lake of the Woods is 107.
| Living Expense | Lake of the Woods | Virginia | National Average | |
|---|---|---|---|---|
| Overall | 118 | 110 | 100 | |
| Services | 102 | 101 | 100 | |
| Groceries | 97 | 99 | 100 | |
| Health | 98 | 98 | 100 | |
| Housing | 155 | 130 | 100 | |
| Transportation | 94 | 94 | 100 | |
| Utilities | 107 | 104 | 100 | |
Lake of the Woods, 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 Lake of the Woods is $423,824.
The Median Rent in Lake of the Woods is $1,690.
The Median Income in Lake of the Woods is $112,917.
The Home Value To Income in Lake of the Woods is 3.8x.
The Rent To Monthly Income in Lake of the Woods is 0.18x.
| Statistic | Lake of the Woods | Virginia | United States |
|---|---|---|---|
| Median Home Value | $423,824 | $404,962 | $303,400 |
| Median Rent | $1,690 | $1,514 | $1,348 |
| Median Income | $112,917 | $90,974 | $78,538 |
| Home Value To Income | 3.8x | 4.5x | 3.9x |
| Rent To Monthly Income | 0.18x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Lake of the Woods, VA Costs By Category
Detailed Lake of the Woods Services Costs Vs. Virginia
| Item | Lake of the Woods | Virginia |
|---|---|---|
| Shampoo | $1.71 | $1.28 |
| Movie | $15.32 | $12.13 |
| Bowling | $25.5 | $18 |
| Haircut | $27.97 | $24.26 |
| Beauty Salon | $54.19 | $45.56 |
Detailed Lake of the Woods Groceries Costs Vs. Virginia
| Item | Lake of the Woods | Virginia |
|---|---|---|
| Ground Beef | $6.34 | $5.84 |
| Fried Chicken | $1.41 | $1.57 |
| Milk | $4.78 | $4.67 |
| Potatoes | $5.33 | $4.93 |
| Pizza | $12.47 | $12.09 |
| Beer | $11.67 | $10.41 |
| Toothpaste | $3.81 | $3.7 |
Detailed Lake of the Woods Health Costs Vs. Virginia
| Item | Lake of the Woods | Virginia |
|---|---|---|
| Optometrist | $121.84 | $125.68 |
| Doctor | $168.85 | $135.78 |
| Dentist | $135.19 | $113.29 |
Detailed Lake of the Woods Transportation Costs Vs. Virginia
| Item | Lake of the Woods | Virginia |
|---|---|---|
| Gasoline | $3.49 | $3.46 |
| Tire Balancing | $57.76 | $59.92 |
Detailed Lake of the Woods Utilities Costs Vs. Virginia
| Item | Lake of the Woods | Virginia |
|---|---|---|
| All Electricity | $201.35 | $193.99 |
| Phone | $184.83 | $192.25 |
Lake Of The Woods SnackAbility
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Cost Of Living In Cities Around Lake of the Woods
The cost of living varies in the cities and towns around Lake of the Woods. Here's a quick look at the cost of living in the most populous nearby places:
Burke, VA has a cost of living index of 160, 1.4x Lake of the Woods.
South Riding, VA has a cost of living index of 161, 1.4x Lake of the Woods.
Fredericksburg, VA has a cost of living index of 132, 1.1x Lake of the Woods.
| City | Population | Cost Of Living | Vs. Lake of the Woods |
|---|---|---|---|
| Burke, VA | 43,336 | 160 | 1.4x |
| South Riding, VA | 34,200 | 161 | 1.4x |
| Fredericksburg, VA | 28,383 | 132 | 1.1x |
| Culpeper, VA | 20,437 | 113 | 1.0x |
| Franklin Farm, VA | 18,509 | 171 | 1.4x |
| Fort Hunt, VA | 16,519 | 188 | 1.6x |
| Broadlands, VA | 14,673 | 166 | 1.4x |
| Kings Park West, VA | 13,281 | 163 | 1.4x |
| Dunn Loring, VA | 8,782 | 194 | 1.6x |
| Floris, VA | 7,135 | 179 | 1.5x |
