B-
9%
Overall NAT. AVG.
0%
Goods & Services NAT. AVG.
27%
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 Chester Virginia National
Cost of living109109100
Goods & Services100100100
Groceries101101100
Health care9699100
Housing127130100
Transportation10095100
Utilities105104100

An Overview of Cost of Living in Chester, VA

Are you thinking about relocating, but curious about the potential cost of living in Chester? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Chester stands at 109, making it 9% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

In Chester, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Chester will resemble that of an average city, contributing to a manageable cost of living.

Housing costs are a very significant part of the Chester cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 27.3% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Is Chester Affordable?

Is Chester an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Chester, the median home price is 26.5% higher than what most folks pay across the country, and monthly rent prices are 29.2% higher than the usual rates. Income levels in Chester come in at $73,800, which is 33.4% higher than the national average.

What Factors can Influence the Cost of Living in Chester?

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Chester, the housing index stands at 27.3% higher than the national average.

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Chester, the groceries index is 0.5% higher than the national average.

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Chester, the transportation index is 0.3% lower than the national average.

Where is the Data From?

The cost of living data in Chester displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Chester is equal to the Virginia average
  • The cost of living in Chester is 9% higher than the national average
  • Chester housing is 27% 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 Chester

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Compare Chester, VA Cost of Living

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      Salary Calculator

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      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$86,196$7,183$2,011$2,586
      Renters$43,053$3,588$1,005$1,292
      The affordability of the housing market in Chester, 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 Chester homeowners, the median income is $86,196. This indicates that a monthly maximum of $2,011 should be spent by homeowners on all housing related costs. Renters have a median income of $43,053. This indicates that renters would have a maximum of $1,005 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 Chester 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 Chester 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 Chester 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 Chester National avg. Difference
      Home Price $233,700.00$184,700.0026.5%
      Avg. Mortgage Payment $2,083.79$2,346.6911.2%
      Apartment Rent $1,226.00$949.0029.2%

      Transportation

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

      Utilities

      Item Chester 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.
      Petersburg, VA30,791927.8%
      Hopewell, VA22,500946.5%
      Montrose, VA7,639946.2%
      Ettrick, VA5,024964.3%
      Bensley, VA6,044964.0%
      Chester, VA22,0981098.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Villa Park, IL22,08711312.6%
      Nixa, MO22,086919.1%
      Corcoran, CA22,0781077.1%
      Johnston, IA22,0771077.4%
      Huntsville, ON22,073n/a 
      Chester, VA22,0981098.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.