Cost of Living in Baywood, VA

With a cost of living index of 65, Baywood, VA is one of the most affordable cities in the country. Living here is 35% cheaper than the national average and 40% below the Virginia state average of 104. Baywood is a small community of 719 residents.

Housing costs are the biggest factor in Baywood's cost of living. The median monthly rent is $731 (45% below the US median of $1,319), and the median home value sits at $93,300 (69% below the national median of $304,900). At current prices, the median home costs roughly 3.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Baywood is $30,500, which is 59% lower than the national median of $75,149. Residents spend roughly 29% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.