State cost profile · 2024 BEA RPP
Cost of Living in Virginia
Statewide Regional Price Parities for Virginia from the Bureau of Economic Analysis, overall, goods, services, and rents vs the U.S. average of 100, across 9 metro areas.
- 101.1
- Statewide RPP
- #16
- of 51 states by cost
- 106.8
- Rents RPP
- 9
- Metro areas
Virginia ranks #16 of 51 states by cost, and its statewide price index has fallen 2.1 points since 2008.
- falling since 2008
- fell -0.2 points in the 2023-2024 release
- similar cost to Arizona
The verdict
Virginia is more expensive than 69% of U.S. states, a statewide cost index of 101.1, 1.1% above the national average.
- Services
- furthest category from 100, at 92.2
- Arizona
- closest statewide cost peer, 0.4 points away
- Charlottesville
- highest-cost metro, 99.1
- Lynchburg
- lowest-cost metro, 89.4
A $100,000 national salary carries the purchasing power of about $98,908 when earned in Virginia.
Virginia vs every U.S. state
Where this state sits in the national cost distribution
101 Top 31% higher than 69% of 51 US states
Each bar is a band; taller bars hold more US states. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.
Source U.S. Bureau of Economic Analysis, Regional Price Parities · 2024
Virginia RPP history, 2008–2024
The statewide index has fallen 2.1 points from 2008 to 2024. The line shows every retained BEA release against the national benchmark of 100; the table preserves the component detail.
| Year | Overall |
|---|---|
| 2008 | 103.2 |
| 2009 | 102.4 |
| 2010 | 103.7 |
| 2011 | 103.4 |
| 2012 | 102.5 |
| 2013 | 103.5 |
| 2014 | 103.5 |
| 2015 | 103.6 |
| 2016 | 102.8 |
| 2017 | 101.2 |
| 2018 | 102.0 |
| 2019 | 100.1 |
| 2020 | 101.0 |
| 2021 | 102.3 |
| 2022 | 102.0 |
| 2023 | 101.3 |
| 2024 | 101.1 |
Reading the Virginia Cost of Living Picture
Virginia clusters near the national line with Arizona, Nevada, Illinois as its closest statewide peers. In that near-par lane, the component mix matters more than the small headline distance from 100. Only 14.6 points separate its reported categories, so the statewide index transfers across household types more cleanly than it does in a polarized cost profile.
Virginia captures 9 metro areas in the BEA dataset, and the range across them is meaningful. Charlottesville, VA leads on cost at 99.1, while Lynchburg, VA sits at the opposite end at 89.4 - a gap of 9.8 index points inside a single state. For goods the state indexes at 100.4, for services 92.2, and for rents 106.8. Rents sit within 5.7 points of the statewide index, so no single category is distorting the headline — unusual, and it makes the state number more transferable between households than most.
Over time, Virginia's statewide index has eased by 2.1 points, narrowing the premium versus lower-cost states. Practically, this means a $100,000 national salary delivers the purchasing power of about $98,908 of national buying power when earned inside Virginia, and a household relocating here would need roughly $101,104 to reproduce a $100K lifestyle. With 9 reporting metros inside the state, treat this figure as the midpoint of a range rather than a quote for any one address.
Metro areas in Virginia, ranked by cost
| # | Metro area | Overall | Goods | Services | Rents |
|---|---|---|---|---|---|
| 1 | Charlottesville | 99.1 | 96.8 | 89.0 | 107.0 |
| 2 | Virginia Beach-Chesapeake-Norfolk | 97.9 | 96.8 | 89.6 | 99.8 |
| 3 | Richmond | 97.9 | 96.8 | 89.2 | 99.1 |
| 4 | Winchester | 96.5 | 96.7 | 89.7 | 90.0 |
| 5 | Harrisonburg | 94.9 | 96.8 | 88.5 | 82.3 |
| 6 | Roanoke | 93.6 | 96.8 | 88.9 | 78.5 |
| 7 | Blacksburg-Christiansburg-Radford | 92.7 | 96.8 | 88.1 | 74.4 |
| 8 | Staunton-Stuarts Draft | 91.1 | 96.8 | 89.5 | 68.2 |
| 9 | Lynchburg | 89.4 | 96.8 | 87.8 | 63.9 |
The Rents RPP index measures housing costs relative to the national average (100). For the federal 40th-percentile Fair Market Rent by bedroom size and county, see the HUD Fair Market Rents dataset.
Latest BEA release change
What changed from 2023 to 2024
Virginia's overall RPP fell -0.2 points, from 101.3 in 2023 to 101.1 in 2024. The largest category move was rents, changing from 105.6 to 106.8. RPP is a relative price index, so this reports a change against the national benchmark rather than a household's dollar bill.
What this means in Virginia
The statewide index is a starting point, cost varies metro to metro within Virginia.
- Don't rely on the state figure alone: Charlottesville (99.1) and Lynchburg (89.4) sit 10 index points apart inside Virginia. Check your specific metro.
- Rents index at 106.8 (6.8% above average) - the largest swing in the RPP. Review the housing line before any relocation decision. Highest rents
- Weighing Virginia against another state? Convert your salary to local purchasing power first. Salary calculator
RPP is BEA's annual price-level benchmark (national average = 100) for the data year shown, pair it with local wages and current rents before deciding.
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Cost of living guides →, cheapest and most-expensive rankings, cost of living vs wages, and how BEA constructs RPP data.
States with Similar Cost of Living
These states have RPP indices closest to Virginia, making them useful peers for relocation or budget comparison.
Nationwide states with similar overall cost or rent prices
Two BEA RPP-derived peer sets for Virginia: nearest states by overall regional price parity and by rents RPP. These are labelled nationwide neighborhoods, distinct from the closest-RPP list above.
Similar overall RPP
Nearest states by overall regional price parity (101.1 here).
Similar rents RPP
Nearest states by rents regional price parity (106.8 here).
Source: Bureau of Economic Analysis, Regional Price Parities Index where national average = 100
Frequently Asked Questions
Where does Virginia sit versus the national cost-of-living line?
Virginia has a Regional Price Parity (RPP) index of 101.1, meaning it is 1.1% more expensive than the national average. Goods are indexed at 100.4, services at 92.2, and rents at 106.8.
What salary in Virginia equals $100K nationally?
To maintain the same purchasing power as a $100,000 salary at the national average, you would need approximately $101,104 in Virginia. Conversely, $100K earned in Virginia has the purchasing power of $98,908 at the national average.
Is housing expensive in Virginia?
Rents in Virginia are indexed at 106.8, which is 6.8% above the national average. Housing costs are close to the national average.
Which metros stretch Virginia's cost range the widest?
The most expensive metro area in Virginia is Charlottesville, VA with an RPP of 99.1. The most affordable is Lynchburg, VA at 89.4. There are 9 metro areas in Virginia with BEA price data.
Has Virginia gotten more affordable over time?
From 2008 to 2024, Virginia's overall cost index changed by -2.1 points (from 103.2 to 101.1). The cost of living has been declining.
What is most expensive in Virginia compared to the U.S. average?
The most expensive category in Virginia is rents at 106.8, which is 6.8% above the national average. The most affordable category is services at 92.2, 7.8% below average.
Data sources
- BEA Regional Price Parities (RPP), the cost-of-living indices shown on this page
- U.S. Census Bureau, American Community Survey (ACS), gross-rent observations behind the rents component
- BLS Consumer Price Index (CPI), goods and services price relatives
- BLS Occupational Employment and Wage Statistics (OEWS), labor-driven services component
- HUD Fair Market Rents (FMR), 40th-percentile rent cross-reference
Every figure on PlainCost is rendered directly from BEA Regional Price Parity source data, no number is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, our changelog, or report a data error. Data current as of 2024. Rankings measure the published cost-of-living index only; we don't recommend where to live or rate any metro's quality of life.