Chincoteague, VA vs Rio, VA

There is a significant gap in the cost of living between these two cities. Chincoteague is 15.5% cheaper than Rio. With a cost index of 95 vs 113, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Chincoteague to Rio should plan for substantially higher expenses across most categories.

Renters will find that Chincoteague has a median rent of $1,102/month while Rio comes in at $1,755/month, a 37% difference.

Median household income in Chincoteague is $62,292 compared to $65,703 in Rio (-5.2%). Rio 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 Chincoteague spend roughly 21.2% of their income on rent, less than the 32.1% in Rio. The Chincoteague ratio exceeds the commonly recommended 30% threshold, which can put pressure on household budgets.