Cost of Living in Cheriton, VA

With a cost of living index of 76, Cheriton, VA is a very affordable place to live. Living here is 24% cheaper than the national average and 28% below the Virginia state average of 104. Cheriton is a small community of 548 residents.

The median household income in Cheriton is $37,125, which is 51% lower than the national median of $75,149. Residents spend roughly 18% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. 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.