C+
13%
Overall NAT. AVG.
9%
Goods & Services NAT. AVG.
29%
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 Winchester Virginia National
Cost of living113109100
Goods & Services109100100
Groceries108101100
Health care9799100
Housing129130100
Transportation9595100
Utilities110104100

An Overview of Cost of Living in Winchester, VA

Getting a feel for the cost of living in Winchester 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 Winchester is 113, which is 13% 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.

Housing costs are a major factor in the Winchester 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 28.6% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

What Do Locals Say About the Cost of Living in Winchester?

The real experts on a city are its residents. That's why we reached out to 7 locals to get their views on the cost of living in Winchester. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 14% found it budget-friendly with decreasing prices, while 86% said it's simply not affordable as prices have continued to rise.

Is Winchester Affordable?

Is Winchester 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 Winchester, the median home price is 34.2% higher than what most folks pay across the country, and monthly rent prices are 15.5% higher than the usual rates. Income levels in Winchester come in at $61,102, which is 10.4% higher than the national average.

What Factors can Influence the Cost of Living in Winchester?

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.

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Winchester, healthcare costs are 2.8% lower than the national average.

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Winchester, the housing index is 28.6% higher than the national average.

Where is the Data From?

The Winchester 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 Winchester is 4% higher than the Virginia average
  • The cost of living in Winchester is 13% higher than the national average
  • Winchester housing is 29% 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 Winchester

See all the best places to live around Winchester

Compare Winchester, 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$89,883$7,490$2,097$2,697
      Renters$46,455$3,871$1,084$1,394
      To approximate the cost of living and the housing affordability in Winchester, VA, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Winchester have a median income of $89,883. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,097 per month to avoid calamity and poverty. The renters in the city have an income of about $46,455, which would make their monthly maximum allowable rental costs $1,084.

      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 Winchester 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 Winchester 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 Winchester 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 Winchester National avg. Difference
      Home Price $247,800.00$184,700.0034.2%
      Avg. Mortgage Payment $4,819.29$2,346.69105.4%
      Apartment Rent $1,096.00$949.0015.5%

      Transportation

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

      Utilities

      Item Winchester 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.
      Shawneeland, VA2,1421043.6%
      Middletown, VA1,5851054.6%
      Capon Bridge, WV6371055.3%
      Strasburg, VA6,6431077.4%
      Shenandoah Shores, VA7771098.7%
      Winchester, VA27,91211313.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Oakdale, MN27,9251054.6%
      Drexel Hill, PA27,9251033.4%
      Magog, QC27,928n/a 
      Jeffersontown, KY27,9331000.4%
      Big Spring, TX27,878909.7%
      Winchester, VA27,91211313.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.