F
112%
Overall NAT. AVG.
9%
Goods & Services NAT. AVG.
359%
Housing NAT. AVG.
Search Homes for Sale
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 Wolf Trap Virginia National
Cost of living212109100
Goods & Services109100100
Groceries108101100
Health care9799100
Housing459130100
Transportation9595100
Utilities110104100

An Overview of Cost of Living in Wolf Trap, VA

Understanding the cost of living in Wolf Trap 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 Wolf Trap cost of living index is 212, which is 112% higher 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.

The cost of living in Wolf Trap is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Wolf Trap falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs are a major factor in the Wolf Trap 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 359.3% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Is Wolf Trap Affordable?

Is Wolf Trap an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Wolf Trap is 402.4% higher than the national average, while the average monthly rent prices are 258.9% higher than average. The affordability of any location can also be influenced by median income levels. Wolf Trap has a median household income of $216,675, which is 291.7% higher than the national average.

What Factors can Influence the Cost of Living in Wolf Trap?

Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from 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 crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Wolf Trap, the utilities index is 10.2% higher than the national average.

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Wolf Trap, healthcare costs are 2.8% lower than the national average.

Where is the Data From?

The Wolf Trap 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.

New Real Estate Listings in Wolf Trap Area
Search Homes for Sale in Wolf Trap, VA

Cost Of Living Quick Facts

  • The cost of living in Wolf Trap is 95% higher than the Virginia average
  • The cost of living in Wolf Trap is 112% higher than the national average
  • Wolf Trap housing is 359% 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 Wolf Trap

See all the best places to live around Wolf Trap

Compare Wolf Trap, VA Cost of Living

      vs
      How would you rate the cost of living in Wolf Trap?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Wolf Trap?
      Write a review to give others more information about this area.
      See all Wolf Trap poll results

      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$220,918$18,410$5,154$6,628
      Renters$141,071$11,756$3,291$4,233
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Wolf Trap, 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 Wolf Trap, homeowners have a median income of $220,918. Using that number, a maximum of $5,154 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $141,071, which means there is a maximum of $3,291 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 Wolf Trap 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 Wolf Trap 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 Wolf Trap 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 Wolf Trap National avg. Difference
      Home Price $927,900.00$184,700.00402.4%
      Avg. Mortgage Payment $4,819.29$2,346.69105.4%
      Apartment Rent $3,406.00$949.00258.9%

      Transportation

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

      Utilities

      Item Wolf Trap 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.
      Rose Hill CDP (Lee County), VA708927.8%
      Woodlawn CDP (Carroll County), VA2,247945.9%
      Wakefield town, VA810954.6%
      Belle Haven town, VA5621022.0%
      Leisure World, MD9,31411717.0%
      Wolf Trap, VA16,497212112.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Hillcrest Heights, MD16,49811717.1%
      East Highland Park, VA16,499981.8%
      Greater Napanee, ON16,500n/a 
      Four Corners, OR16,49111010.0%
      Buda, TX16,48411212.4%
      Wolf Trap, VA16,497212112.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.