Cost of living
Lake Ridge, Virginia
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Lake Ridge, VA is #94 on the list Top 100 Most Affordable U.S. Cities with Outstanding Education in 2023, #45 on the list Top 100 Best Places to Raise a Family in the South in 2023, #96 on the list Top 100 Most Affordable U.S. Cities with Outstanding Education in 2022, #65 on the list Top 100 Best Places to Raise a Family in the South in 2022
Cost of living in Lake Ridge, Virginia
Cost of living compared to USAhigh
Cost of living compared to Virginiahigh
Median household incomethe highest
Is it expensive to live in Lake Ridge, Virginia? When calculating the cost of living in Lake Ridge, Virginia we factor in state income tax rates, average housing rental prices, average property values, cost of living index, and more.
The cost of living in Lake Ridge, Virginia is highAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in the United States and highAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in Virginia, while median household income in Lake Ridge is $103,608 which is the highest Analytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in the United States and the highestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in Virginia.
Taxes in Lake Ridge, Virginia
The sales tax rate in Lake Ridge, Virginia is 6.0%. Last year, the average property taxes paid was 1.0% Lake Ridge, Virginia.
Here is the table with the State Income Taxes in the state of Virginia:
State Income Tax Brackets (Single):
| Income Bracket Threshold | Income Bracket Ceiling | Virginia Income Tax Rate |
|---|---|---|
| $0 | $3,000 | 2.0% |
| $3,000 | $5,000 | 3.0% |
| $5,000 | $17,000 | 5.0% |
| $17,000 | $9,999,999 | 5.75% |
State Income Tax Brackets (Married):
| Income Bracket Threshold | Income Bracket Ceiling | Virginia Income Tax Rate |
|---|---|---|
| $0 | $3,000 | 2.0% |
| $3,000 | $5,000 | 3.0% |
| $5,000 | $17,000 | 5.0% |
| $17,000 | $9,999,999 | 5.75% |
Housing costs in Lake Ridge, Virginia
The average cost of a single-family home compared to USAthe highest
The average cost of a single-family home compared to Virginiathe highest
In Lake Ridge, Virginia, 75.0% of the population owns their homes, while approximately 25.0% rent. The average cost of a single-family home in Lake Ridge, Virginia in 2022 is $426,070 which is the highestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in the United States and the highestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in Virginia. The average one-bedroom apartment cost is approximately $1,610 per month.
| Rental Size | Monthly Cost | Compared to Virginia |
|---|---|---|
| 1 Bedroom | $1,610 | the highestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest |
| 2 Bedroom | $1,830 | the highestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest |
| 3 Bedroom | $2,290 | the highestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest |
| 4 Bedroom | $2,730 | the highestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest |
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