Lake of the Woods, VA vs Waynesboro, VA

The cost of living difference between Lake of the Woods, VA and Waynesboro, VA is dramatic. Waynesboro is 48.1% cheaper than Lake of the Woods, a gap that translates to thousands of dollars per year in household expenses. Lake of the Woods has a cost index of 121 while Waynesboro sits at 81, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Lake of the Woods is $1,690/month compared to $972/month in Waynesboro — a 74% difference. Home values follow the same pattern: Waynesboro is more affordable at $236,600 median vs $377,500.

Median household income in Lake of the Woods is $112,917 compared to $56,364 in Waynesboro (+100.3%). While Lake of the Woods is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Lake of the Woods spend roughly 18% of their income on rent, less than the 20.7% in Waynesboro.