Cost of Living in Central Garage, VA

With a cost of living index of 93, Central Garage, VA is slightly more affordable than average. Living here is 7% cheaper than the national average and 12% below the Virginia state average of 104. Central Garage is a small community of 1,364 residents.

Housing costs are the biggest factor in Central Garage's cost of living. The median monthly rent is $1,173 (11% below the US median of $1,319), and the median home value sits at $277,300 (9% below the national median of $304,900). At current prices, the median home costs roughly 3.7x the median household income — a moderately affordable ratio by today's standards.

The median household income in Central Garage is $74,911, which is 0% higher than the national median of $75,149. Residents spend roughly 19% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Everyday prices in the Richmond, VA (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.