Fredericksburg, VA vs Lake Monticello, VA

Fredericksburg, VA and Lake Monticello, VA have a very similar cost of living, with only a 1.4% difference in their overall index. Fredericksburg scores 122 while Lake Monticello scores 124 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Fredericksburg is $1,521/month compared to $2,167/month in Lake Monticello — a 30% difference. Interestingly, home values tell a different story: while Fredericksburg has cheaper rent, Lake Monticello actually has lower median home values ($288,300 vs $461,500).

Median household income in Fredericksburg is $85,368 compared to $101,363 in Lake Monticello (-15.8%). While Lake Monticello is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Fredericksburg spend roughly 21.4% of their income on rent, less than the 25.7% in Lake Monticello.