Great job opportunities, safe neighborhoods, great public schools and miles upon miles of pristine beaches would make anyone want to live in Virginia Beach, and indeed many millennials are moving in and making the city younger and livelier than ever. If you’re reading this article, you’re probably thinking about moving there yourself. Since moving is a major life event that needs to be planned carefully, you should get as much information as possible in advance. Just as you should research the cost of moving long distance or delve into the intricacies of self-storage services, it is equally important to find out how much you should expect to spend while living in your new town. For that purpose we created this overview of Virginia Beach’s cost of living:
Cost of Housing
Housing prices are usually the biggest expense to take into consideration. Rent prices in Virginia Beach, like in many other burgeoning cities, are higher than the national average. A 1-bedroom apartment in the city’s center will cost an average rent of $1130, while a 3-bedroom in the area will cost an average of $1764. Renting outside of the city’s center will cost an average of $874 for a 1-bedroom and $1362 for a 3-bedroom. The average home-buying price per square foot in Virginia Beach is $233 in the city center and $136 outside of it, with an average mortgage rate of 3.92%.
Average Income
According to the Virginia Beach Department of Economic Development, the median household income in Virginia Beach is $61,436, compared to the nation’s median household income of $51,939. The average household income is $85,783, compared to the national average of $74,699. Virginia’s state income tax of 5.75% should also be taken into consideration, as it is higher than the national average of 4.6%. Sales tax is 6%, which is in line with the national average. According to Numbeo, the average monthly disposable salary (net after tax) is $2,750.
Cost of Food
The cost of eating out or cooking at home in Virginia Beach is largely in line with the average cost of food in the country, which makes it somewhat cheaper than other major metropolitan areas. An average lunch in the business district will set you back approximately $13 while a fancier, three-course meal will cost around $40. Basic groceries prices include $6 for 1 lb. of beef, $2.60 for 1 lb. of chicken breast, $2.80 for a gallon of milk and $1.80 for a loaf of white bread.
Cost of Utilities
Utility prices are also largely consistent with the national average. The average household’s monthly utility costs are about $170 according to Numbeo, including water, electricity, heating, and garbage. Internet prices are an average of $60 per month.
Cost of Healthcare
Staying healthy in Virginia Beach is also on the affordable side compared to other major cities, with prices slightly higher than the national average. A visit to the doctor is priced at an average of $115 compared to the national average of $105 and a dentist appointment is priced at an average of $98, compared to the national average of $89.
Cost of Transportation
Virginia Beach is relatively cheap to get around, especially in comparison with other major cities. According to Numbeo, A gallon of gasoline costs an average of $2 (national average is $2.38) and a monthly public transportation pass is about $50.
Are you and Virginia Beach a financial match? Great! Now you can start looking into the costs of renting a moving truck! Or would you rather hire a professional mover in Virginia Beach? We don’t blame you, leave the heavy lifting to them!
