Lake Ridge, VA Cost Of Living
Cost Of Living In Lake Ridge, VA Summary
Cost of living in Lake Ridge 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 Ridge 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 Ridge is 134, with 100 being the average.
The cost of living index in Lake Ridge is 1.3x higher than the national average.
Lake Ridge ranks as the #108 cheapest in Virginia out of 190.
Lake Ridge ranks as the #5,171 cheapest out of 6,489 in the US.
The median home value in Lake Ridge is $508,364.
The median income in Lake Ridge is $120,844.
Table Of Contents
Lake Ridge's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Lake Ridge, VA?
According to the most recent data on the cost of living, Lake Ridge has an overall cost of living index of 134, which is 1.3x higher than the national index of 100.
Compared to Virginia, Lake Ridge has a cost of living index that's 1.2x higher than Virginia's index of 110.
The standard of living in Lake Ridge ranks as #108 most affordable out of the 190 places we measured in Virginia. By definition, that implies Lake Ridge ranks as the #82 most expensive place in the Old Dominion.
For more reading on life in Lake Ridge, check out:
In Virginia
In America
Lake Ridge Cost Of Living Vs. Virginia
Six factors go into calculating the cost of living index in Lake Ridge. Here is how it fairs on each of the criteria:
The Services index in Lake Ridge is 111.
The Groceries index in Lake Ridge is 115.
The Health index in Lake Ridge is 110.
The Housing index in Lake Ridge is 194.
The Transportation index in Lake Ridge is 111.
The Utilities index in Lake Ridge is 103.
| Living Expense | Lake Ridge | Virginia | National Average | |
|---|---|---|---|---|
| Overall | 134 | 110 | 100 | |
| Services | 111 | 101 | 100 | |
| Groceries | 115 | 99 | 100 | |
| Health | 110 | 98 | 100 | |
| Housing | 194 | 130 | 100 | |
| Transportation | 111 | 94 | 100 | |
| Utilities | 103 | 104 | 100 | |
Lake Ridge, 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 Ridge is $508,364.
The Median Rent in Lake Ridge is $2,011.
The Median Income in Lake Ridge is $120,844.
The Home Value To Income in Lake Ridge is 4.2x.
The Rent To Monthly Income in Lake Ridge is 0.2x.
| Statistic | Lake Ridge | Virginia | United States |
|---|---|---|---|
| Median Home Value | $508,364 | $404,962 | $303,400 |
| Median Rent | $2,011 | $1,514 | $1,348 |
| Median Income | $120,844 | $90,974 | $78,538 |
| Home Value To Income | 4.2x | 4.5x | 3.9x |
| Rent To Monthly Income | 0.2x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Lake Ridge, VA Costs By Category
Detailed Lake Ridge Services Costs Vs. Virginia
| Item | Lake Ridge | Virginia |
|---|---|---|
| Shampoo | $1.34 | $1.28 |
| Movie | $13.08 | $12.13 |
| Bowling | $24.34 | $18 |
| Haircut | $25.51 | $24.26 |
| Beauty Salon | $47.63 | $45.56 |
Detailed Lake Ridge Groceries Costs Vs. Virginia
| Item | Lake Ridge | Virginia |
|---|---|---|
| Ground Beef | $6.08 | $5.84 |
| Fried Chicken | $1.41 | $1.57 |
| Milk | $4.68 | $4.67 |
| Potatoes | $5.3 | $4.93 |
| Pizza | $12.49 | $12.09 |
| Beer | $10.83 | $10.41 |
| Toothpaste | $3.62 | $3.7 |
Detailed Lake Ridge Health Costs Vs. Virginia
| Item | Lake Ridge | Virginia |
|---|---|---|
| Optometrist | $120.12 | $125.68 |
| Doctor | $135.82 | $135.78 |
| Dentist | $98.77 | $113.29 |
Detailed Lake Ridge Transportation Costs Vs. Virginia
| Item | Lake Ridge | Virginia |
|---|---|---|
| Gasoline | $3.34 | $3.46 |
| Tire Balancing | $64.7 | $59.92 |
Detailed Lake Ridge Utilities Costs Vs. Virginia
| Item | Lake Ridge | Virginia |
|---|---|---|
| All Electricity | $213.29 | $193.99 |
| Phone | $184.83 | $192.25 |
Lake Ridge SnackAbility
/10
Cost Of Living In Cities Around Lake Ridge
The cost of living varies in the cities and towns around Lake Ridge. Here's a quick look at the cost of living in the most populous nearby places:
Woodbridge, VA has a cost of living index of 128, 1.0x Lake Ridge.
Burke, VA has a cost of living index of 160, 1.2x Lake Ridge.
South Riding, VA has a cost of living index of 161, 1.2x Lake Ridge.
| City | Population | Cost Of Living | Vs. Lake Ridge |
|---|---|---|---|
| Woodbridge, VA | 43,443 | 128 | 1.0x |
| Burke, VA | 43,336 | 160 | 1.2x |
| South Riding, VA | 34,200 | 161 | 1.2x |
| Lorton, VA | 21,961 | 149 | 1.1x |
| Franklin Farm, VA | 18,509 | 171 | 1.3x |
| Fort Hunt, VA | 16,519 | 188 | 1.4x |
| Kings Park West, VA | 13,281 | 163 | 1.2x |
| Dunn Loring, VA | 8,782 | 194 | 1.4x |
| Laurel Hill, VA | 7,551 | 154 | 1.1x |
| Floris, VA | 7,135 | 179 | 1.3x |
