Cost of Living in Burkeville, VA

With a cost of living index of 80, Burkeville, VA is a very affordable place to live. Living here is 20% cheaper than the national average and 24% below the Virginia state average of 104. Burkeville is a small community of 489 residents.

Housing costs are the biggest factor in Burkeville's cost of living. The median monthly rent is $1,241 (6% below the US median of $1,319), and the median home value sits at $90,700 (70% below the national median of $304,900). At current prices, the median home costs roughly 1.7x the median household income — well within traditional affordability guidelines.

The median household income in Burkeville is $53,542, which is 29% lower than the national median of $75,149. Residents spend roughly 28% 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.