C-
14%
Overall NAT. AVG.
0%
Goods & Services NAT. AVG.
45%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Brandermill Virginia National
Cost of living114109100
Goods & Services100100100
Groceries101101100
Health care9699100
Housing145130100
Transportation10095100
Utilities105104100

An Overview of Cost of Living in Brandermill, VA

The cost of living in Brandermill affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Brandermill is 114, which is 14% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Housing costs significantly influence the Brandermill cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 45.3%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Is Brandermill Affordable?

Is Brandermill affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Brandermill, the median home price is 44.2% higher than the national average and monthly rent prices are 47.8% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Brandermill boasting a median household income of $97,379, 76% higher than the national average.

What Factors can Influence the Cost of Living in Brandermill?

Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Brandermill, healthcare costs are 4.4% lower than the national average.

Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.

Where is the Data From?

The Brandermill cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Brandermill is 5% higher than the Virginia average
  • The cost of living in Brandermill is 14% higher than the national average
  • Brandermill housing is 45% higher than the national average
  • Virginia general sales tax is 4% higher than the national average
  • Virginia state income tax is 23% lower than the national average

Most Affordable Places to Live in and Around Brandermill

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Compare Brandermill, VA Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$107,339$8,945$2,504$3,220
      Renters$69,091$5,758$1,612$2,073
      The affordability of the housing market in Brandermill, VA as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Brandermill homeowners, the median income is $107,339. This indicates that a monthly maximum of $2,504 should be spent by homeowners on all housing related costs. Renters have a median income of $69,091. This indicates that renters would have a maximum of $1,612 for their rent related monthly costs.

      Virginia Sales Tax

      State General Sales Tax With Max Surtax
      Virginia 5.3% 6%

      Virginia Income Tax

      State Income Tax (Low) Income Tax (High)
      Virginia 2% 5.75%

      Goods & Services

      Item Brandermill National avg. Difference
      Haircut $20.00$24.2617.6%
      Beauty Salon $54.17$45.5618.9%
      Toothpaste $3.72$3.700.5%
      Shampoo $1.26$1.281.3%
      Movie $13.31$12.139.7%
      Bowling $24.17$18.0034.3%

      Groceries

      Item Brandermill National avg. Difference
      Ground Beef $5.54$5.845.2%
      Fried Chicken $1.44$1.578.5%
      Milk $4.63$4.671.0%
      Potatoes $5.27$4.936.8%
      Pizza $12.72$12.095.3%
      Beer $10.64$10.412.2%

      Health Care

      Item Brandermill National avg. Difference
      Optometrist $95.44$125.6824.1%
      Doctor $122.83$135.789.5%
      Dentist $109.67$113.293.2%
      Ibuprofen $10.76$10.651.0%
      Lipitor $489.65$468.604.5%

      Housing

      Item Brandermill National avg. Difference
      Home Price $266,300.00$184,700.0044.2%
      Avg. Mortgage Payment $2,083.79$2,346.6911.2%
      Apartment Rent $1,403.00$949.0047.8%

      Transportation

      Item Brandermill National avg. Difference
      Gasoline $3.27$3.465.5%
      Tire Balancing $60.00$59.920.1%

      Utilities

      Item Brandermill National avg. Difference
      All Electricity $227.22$193.9917.1%
      Phone $185.33$192.253.6%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Ettrick, VA5,024964.3%
      Bensley, VA6,044964.0%
      Bellwood, VA7,808973.1%
      East Highland Park, VA16,499981.8%
      Matoaca, VA2,725991.1%
      Brandermill, VA13,88711414.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Lacombe, AB13,889n/a 
      Chesterton, IN13,8841054.6%
      Whitefish Bay, WI13,89012726.8%
      The Nation / La Nation, ON13,890n/a 
      Collingswood, NJ13,88211414.0%
      Brandermill, VA13,88711414.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.