F
56%
Overall NAT. AVG.
9%
Goods & Services NAT. AVG.
171%
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 Stone Ridge Virginia National
Cost of living156109100
Goods & Services109100100
Groceries108101100
Health care9799100
Housing271130100
Transportation9595100
Utilities110104100

An Overview of Cost of Living in Stone Ridge, VA

Knowing the cost of living in Stone Ridge allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Stone Ridge stands at 156, marking it 56% higher than the national average.

If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Stone Ridge is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Stone Ridge falls into this category, which may not align with your goal of finding a budget-friendly living environment.

Housing costs make up a big chunk of the cost of living in Stone Ridge, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 171.1% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Is Stone Ridge Affordable?

Is Stone Ridge 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 Stone Ridge, the median home price is 176.3% higher than the national average and monthly rent prices are 159.1% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Stone Ridge boasting a median household income of $163,465, 195.5% higher than the national average.

What Factors can Influence the Cost of Living in Stone Ridge?

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum 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 farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday goods and services like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Stone Ridge starts at 5.3% and the income tax rates start at 2%.

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Stone Ridge, the groceries index registers 8.3% higher than the national average.

Where is the Data From?

The Stone Ridge cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates 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 Stone Ridge is 43% higher than the Virginia average
  • The cost of living in Stone Ridge is 56% higher than the national average
  • Stone Ridge housing is 171% 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 Stone Ridge

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Compare Stone Ridge, 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$163,654$13,638$3,818$4,910
      Renters$162,589$13,549$3,793$4,878
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Stone Ridge, VA, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Stone Ridge, homeowners have a median income of $163,654. Using that number, a maximum of $3,818 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $162,589, which means there is a maximum of $3,793 to be spent on the costs of renting a home or apartment.

      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 Stone Ridge National avg. Difference
      Haircut $26.11$24.267.6%
      Beauty Salon $70.08$45.5653.8%
      Toothpaste $3.81$3.702.8%
      Shampoo $1.51$1.2817.9%
      Movie $15.69$12.1329.3%
      Bowling $24.83$18.0038.0%

      Groceries

      Item Stone Ridge National avg. Difference
      Ground Beef $6.24$5.846.9%
      Fried Chicken $1.40$1.5711.0%
      Milk $4.78$4.672.2%
      Potatoes $5.49$4.9311.3%
      Pizza $12.56$12.093.9%
      Beer $11.10$10.416.6%

      Health Care

      Item Stone Ridge National avg. Difference
      Optometrist $92.00$125.6826.8%
      Doctor $135.03$135.780.5%
      Dentist $117.67$113.293.9%
      Ibuprofen $11.52$10.658.1%
      Lipitor $403.79$468.6013.8%

      Housing

      Item Stone Ridge National avg. Difference
      Home Price $510,300.00$184,700.00176.3%
      Avg. Mortgage Payment $4,819.29$2,346.69105.4%
      Apartment Rent $2,459.00$949.00159.1%

      Transportation

      Item Stone Ridge National avg. Difference
      Gasoline $3.25$3.466.0%
      Tire Balancing $59.00$59.921.5%

      Utilities

      Item Stone Ridge National avg. Difference
      All Electricity $222.47$193.9914.7%
      Phone $197.37$192.252.7%
      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.
      Bull Run, VA16,76912020.2%
      Yorkshire, VA9,11812322.8%
      Sudley, VA18,01912525.1%
      Manassas Park, VA17,54812525.2%
      Warrenton, VA9,92812626.4%
      Stone Ridge, VA15,03415655.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Williamsburg, VA15,03411919.4%
      Belvedere Park, GA15,0281000.1%
      Newport, KY15,045963.5%
      Vandalia, OH15,021936.9%
      Hayden, ID15,04911615.9%
      Stone Ridge, VA15,03415655.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.