Cost of Living in Cape Charles, VA

With a cost of living index of 109, Cape Charles, VA is somewhat more expensive than average. Living here is 9% more expensive than the national average and 4% above the Virginia state average of 104. Cape Charles is a small community of 1,278 residents.

Housing costs are the biggest factor in Cape Charles's cost of living. The median monthly rent is $840 (36% below the US median of $1,319), and the median home value sits at $589,000 (93% above the national median of $304,900). At current prices, the median home costs roughly 11.5x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Cape Charles is $51,250, which is 32% lower than the national median of $75,149. Residents spend roughly 20% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

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.