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Crunching costs, sorting signals, rendering insights.
Crunching costs, sorting signals, rendering insights.
Let's be honest: Virginia isn't cheap. But within that premium market, there are cities where your dollar stretches meaningfully further. Richmond proves it with a cost index of 102, the lowest in Virginia, and we've ranked all 7 contenders to help you find the best deal in an expensive landscape.
#1 Ranked: Richmond — cost index 102, rent $1,574/mo, income $62,671
0 of 7 cities keep rent under 30% of $50K gross income
Data sourced from Census Bureau, Zillow, BLS, and Tax Foundation — current as of 2026
Let's be honest: Virginia isn't cheap. But within that premium market, there are cities where your dollar stretches meaningfully further. Richmond proves it with a cost index of 102, the lowest in Virginia, and we've ranked all 7 contenders to help you find the best deal in an expensive landscape.
The numbers for Richmond are straightforward: 102 on the cost index, $1,574/month rent, $62,671 income. Not the most exciting entry in the list, but solid. Take it or leave it — the data is what it is.
What makes this tricky: The 7 cities we track in Virginia paint a surprisingly balanced picture. Average cost index: 107. Median rent: $1,804/month. Household income: $79,954. Virginia is known for DC suburbs drive costs; the rest stays affordable — and the data backs that reputation convincingly.
What to do with this data: use the ranking as a shortlist, then dig into the city profiles for trend lines and category breakdowns. The difference between #1 and #5 is often smaller than the difference between "good on paper" and "actually fits my life." Compare your top picks with our calculator to see real take-home numbers.
| Rank | City | Median Rent | Rent % of Gross | Cost Index | |
|---|---|---|---|---|---|
| 1 | Richmond | $1,574 | 38% | 102 | Details |
| 2 | Hampton | $1,587 | 38% | 98 | Details |
| 3 | Newport News | $1,596 | 38% | 99 | Details |
| 4 | Norfolk | $1,696 | 41% | 101 | Details |
| 5 | Virginia Beach | $1,953 | 47% | 110 | Details |
| 6 | Chesapeake | $2,002 | 48% | 111 | Details |
| 7 | Alexandria | $2,223 | 53% | 126 | Details |
114,106 residents · Virginia
Here's Richmond by the numbers — and there's a lot to like (and a little to watch). Cost index: 102. Rent: $1,574/month. Income: $62,671/year. Home price: $361,133. Population: 114,106. The strongest category is Utilities at 94; the most expensive is Healthcare at 105. Translate that rent to annual numbers, and residents are saving renters $3,852 per year vs. the national median. Over a five-year window, that difference is life-changing.
137,098 residents · Virginia
Why Hampton ranks #2: the numbers tell a clear story. At 98 on the cost index, residents save roughly 14% less than the typical American. Rent sits at $1,587/month while the median household pulls in $67,758/year. The Utilities category is particularly strong at 90, though Healthcare (101) lags behind. Home prices average $272,161 — $195,209 below the national median (and that gap widens if you factor in state taxes).
183,118 residents · Virginia
What does daily life actually cost in Newport News? Start with the 29% rent-to-income ratio — tight but manageable for most households. And generally speaking, on the category level, Utilities (index 91) is where the real savings show up, while Healthcare (index 102) is the line item most likely to surprise newcomers. Income at $66,718 — we had to double-check this one — and homes at $287,123 round out a profile that ranks #3 for clear reasons.
230,930 residents · Virginia
A closer look at Norfolk: the cost index of 101 breaks down to a Utilities index of 93 (strongest category) and a Healthcare index of 104 (weakest). Median rent is $1,696/month — 11% below the national median — while household income sits at $64,017, meaning locals spend about 32% of income on rent. That exceeds the recommended 30% threshold — affordability here depends on earning above the median (that's pre-tax, of course).
453,649 residents · Virginia
Dive into Virginia Beach's numbers: cost index 110 (2 points below national average), rent $1,953/month, income $90,685, and a home price of $418,508. The city's cost profile isn't flat — Utilities is the cheapest category at 102, while Housing runs 126. With 453,649 residents, it balances mid-size city convenience with manageable costs (not adjusted for inflation, but still telling).
| City | State Tax | Sales Tax | Property Tax | Est. Take-Home |
|---|---|---|---|---|
1Richmond | 5.75% | 5.77% | 0.75% | $37,247 |
2Hampton | 5.75% | 5.77% | 0.75% | $37,247 |
3Newport News | 5.75% | 5.77% | 0.75% | $37,247 |
4Norfolk | 5.75% | 5.77% | 0.75% | $37,247 |
5Virginia Beach | 5.75% | 5.77% | 0.75% | $37,247 |
6Chesapeake | 5.75% | 5.77% | 0.75% | $37,247 |
7Alexandria | 5.75% | 5.77% | 0.75% | $37,247 |
Richmond ranks #1 in Virginia for this analysis with a cost index of 102 and median income of $62,671.
Yes. On a $50K salary in Richmond, rent would consume about 38% of your gross monthly income. Financial experts recommend keeping rent under 30%. It's tight — consider a roommate or nearby suburb.
Our cost of living index uses real Zillow rent data as the foundation, indexed to 100 (national median). Sub-categories (housing, food, transport, utilities, healthcare) are derived from the overall index with regional adjustments. Data is updated monthly.
Richmond (ranked #1) has a cost index of 102 and rent of $1,574/mo, while Alexandria (ranked #7) has a cost index of 126 and rent of $2,223/mo — a 24-point difference in cost of living.
City data is refreshed monthly from Census Bureau population estimates, Zillow rent and home price indices, BLS salary data, and Tax Foundation tax rates. Last updated: 2026.
The median 1-bedroom rent in Richmond is $1,574/month as of 2026, based on Zillow's Observed Rent Index. This is $321 below the national median of $1,895/month.
After federal taxes, FICA (7.65%), and 5.75% state income tax, estimated take-home on $50K in Richmond is approximately $37,247/year ($3,104/month). After median rent of $1,574/month, you'd have roughly $18,359/year for all other expenses.
The median home price in Richmond is $361,133, which is 5.8× the local median income. Most median-income households would stretch to buy at this ratio. The national median home price is $467,370.
Virginia has a 5.75% state income tax rate. Combined state and local sales tax averages 5.77%, and the effective property tax rate is 0.75%.
This ranking was generated using data current as of early 2026. Population and income data comes from the Census Bureau's American Community Survey (5-year estimates). Rent and home price data is from Zillow's monthly releases. Tax rates are from the Tax Foundation's 2025 edition. Rankings are refreshed monthly.