F
48%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
143%
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 Lincolnia Virginia National
Cost of living148109100
Goods & Services108100100
Groceries114101100
Health care11299100
Housing243130100
Transportation10095100
Utilities101104100

An Overview of Cost of Living in Lincolnia, VA

Getting a feel for the cost of living in Lincolnia is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Lincolnia is 148, which is 48% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

If you're in pursuit of an economical living environment, Lincolnia may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Lincolnia falls within this bracket.

Housing costs are a major factor in the Lincolnia cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 143.4% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Groceries are getting more expensive by the day and the cost of groceries makes up 13% of the overall cost of living index. In the past two years, prices have shot up by over 10%! Unfortunately, in Lincolnia, it's the same story – grocery costs are 13.9% higher than what people pay across the country.

Is Lincolnia Affordable?

Is Lincolnia affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Lincolnia, for instance, where the median home price falls 162.8% higher than the national average, and monthly rent rates are 98% higher than usual. Additionally, median income levels contribute to the equation, with Lincolnia flaunting a median household income of $104,728, 89.3% higher than the national norm.

What Factors can Influence the Cost of Living in Lincolnia?

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 Lincolnia, healthcare costs are 12.4% higher than the national average.

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including 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 farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Lincolnia, the housing index comes in at 143.4% higher than the national average.

Where is the Data From?

The cost of living data in Lincolnia 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 Lincolnia is 36% higher than the Virginia average
  • The cost of living in Lincolnia is 48% higher than the national average
  • Lincolnia housing is 143% 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 Lincolnia

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Compare Lincolnia, 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$132,823$11,069$3,099$3,985
      Renters$70,217$5,851$1,638$2,107
      A good way to judge both the affordability of the housing and the cost of living in Lincolnia is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Lincolnia has a median income of about $132,823 for people who own homes. Based on that number, a maximum of $3,099 should be spent on expenses related to housing. Renters have a slightly different median income, which is $70,217. Based on this average, renters should spend no more than $1,638 on all rental costs if they want to maintain a non-impoverished standard of living.

      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 Lincolnia National avg. Difference
      Haircut $18.62$24.2623.3%
      Beauty Salon $35.20$45.5622.7%
      Toothpaste $3.73$3.700.7%
      Shampoo $1.22$1.285.0%
      Movie $11.20$12.137.7%
      Bowling $19.22$18.006.8%

      Groceries

      Item Lincolnia National avg. Difference
      Ground Beef $5.49$5.846.0%
      Fried Chicken $1.37$1.5713.0%
      Milk $4.73$4.671.3%
      Potatoes $4.76$4.933.5%
      Pizza $12.47$12.093.2%
      Beer $10.83$10.414.1%

      Health Care

      Item Lincolnia National avg. Difference
      Optometrist $109.25$125.6813.1%
      Doctor $94.10$135.7830.7%
      Dentist $109.57$113.293.3%
      Ibuprofen $10.51$10.651.3%
      Lipitor $487.97$468.604.1%

      Housing

      Item Lincolnia National avg. Difference
      Home Price $485,400.00$184,700.00162.8%
      Avg. Mortgage Payment $1,870.08$2,346.6920.3%
      Apartment Rent $1,879.00$949.0098.0%

      Transportation

      Item Lincolnia National avg. Difference
      Gasoline $3.29$3.464.9%
      Tire Balancing $62.25$59.923.9%

      Utilities

      Item Lincolnia National avg. Difference
      All Electricity $248.70$193.9928.2%
      Phone $185.37$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.
      Rose Hill CDP (Lee County), VA708927.8%
      Woodlawn CDP (Carroll County), VA2,247945.9%
      Wakefield town, VA810954.6%
      Belle Haven town, VA5621022.0%
      Cottage City, MD1,1501088.4%
      Lincolnia, VA22,57914847.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Jasmine Estates, FL22,572909.9%
      Trussville, AL22,59011110.6%
      Silver Firs, WA22,56415958.9%
      Greenfield, IN22,561946.2%
      Waukee, IA22,5981054.7%
      Lincolnia, VA22,57914847.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.