A
2%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
8%
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 Staunton Virginia National
Cost of living98109100
Goods & Services103100100
Groceries99101100
Health care9699100
Housing92130100
Transportation9395100
Utilities105104100

An Overview of Cost of Living in Staunton, VA

Understanding the cost of living in Staunton can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Staunton cost of living index is 98, which is 2% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

In Staunton, 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 Staunton will resemble that of an average city, contributing to a manageable cost of living.

Is Staunton Affordable?

Wondering if Staunton is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Staunton, for example, the median home price is 7.1% lower than what folks pay nationally, and monthly rent is 9% lower than the usual rates. Plus, income levels matter too, with Staunton boasting a median household income of $52,292, which is 5.5% lower than the national average.

What Factors can Influence the Cost of Living in Staunton?

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 Staunton, the housing index stands at 7.7% lower than the national average.

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Staunton comes in at 4.8% higher than the national average.

Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, 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. Areas that provide fewer subsidies may see an uptick in their overall cost of living.

Where is the Data From?

The cost of living in Staunton, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Staunton is 10% lower than the Virginia average
  • The cost of living in Staunton is 2% lower than the national average
  • Staunton housing is 8% lower 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 Staunton

See all the best places to live around Staunton

Compare Staunton, 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$71,517$5,960$1,669$2,146
      Renters$36,756$3,063$858$1,103
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Staunton, VA, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Staunton homeowners, is $71,517. This would allow for a maximum of $1,669 per month to be spent on housing costs. For renters, the median monthly income is $36,756 which would result in a maximum of $858 to be spent on rental 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 Staunton National avg. Difference
      Haircut $27.97$24.2615.3%
      Beauty Salon $54.19$45.5618.9%
      Toothpaste $3.81$3.702.9%
      Shampoo $1.71$1.2833.5%
      Movie $15.32$12.1326.3%
      Bowling $25.50$18.0041.7%

      Groceries

      Item Staunton National avg. Difference
      Ground Beef $6.34$5.848.5%
      Fried Chicken $1.41$1.5710.4%
      Milk $4.78$4.672.4%
      Potatoes $5.33$4.938.0%
      Pizza $12.47$12.093.2%
      Beer $11.67$10.4112.1%

      Health Care

      Item Staunton National avg. Difference
      Optometrist $121.84$125.683.1%
      Doctor $168.85$135.7824.4%
      Dentist $135.19$113.2919.3%
      Ibuprofen $11.86$10.6511.4%
      Lipitor $414.10$468.6011.6%

      Housing

      Item Staunton National avg. Difference
      Home Price $171,600.00$184,700.007.1%
      Avg. Mortgage Payment $5,381.45$2,346.69129.3%
      Apartment Rent $864.00$949.009.0%

      Transportation

      Item Staunton National avg. Difference
      Gasoline $3.49$3.460.8%
      Tire Balancing $57.76$59.923.6%

      Utilities

      Item Staunton National avg. Difference
      All Electricity $201.35$193.993.8%
      Phone $184.83$192.253.9%
      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.
      Middlebrook, VA01010.9%
      Augusta Springs, VA1438811.7%
      Crimora, VA2,297946.5%
      Verona, VA3,965972.6%
      Sherando, VA549982.2%
      Staunton, VA24,660981.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Northdale, FL24,66011111.0%
      West Memphis, AR24,6568218.2%
      Sandusky, OH24,6518415.9%
      Wright, FL24,6711000.2%
      Mill Creek East, WA24,64316868.3%
      Staunton, VA24,660981.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.