Castlewood, VA vs Chincoteague, VA

There is a significant gap in the cost of living between these two cities. Castlewood is 25.8% cheaper than Chincoteague. With a cost index of 71 vs 95, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Castlewood to Chincoteague should plan for substantially higher expenses across most categories.

On the housing front, median rent in Castlewood is $740/month compared to $1,102/month in Chincoteague — a 33% difference. Home values follow the same pattern: Castlewood is more affordable at $163,300 median vs $329,200.

Median household income in Castlewood is $58,958 compared to $62,292 in Chincoteague (-5.4%). Chincoteague does offer higher incomes, but the salary premium barely offsets the higher cost of living, leaving residents with a tighter budget. Looking at affordability, residents of Castlewood spend roughly 15.1% of their income on rent, less than the 21.2% in Chincoteague.