Cost of Living in Cleveland, VA

With a cost of living index of 60, Cleveland, VA is one of the most affordable cities in the country. Living here is 40% cheaper than the national average and 44% below the Virginia state average of 104. Cleveland is a small community of 346 residents.

Housing costs are the biggest factor in Cleveland's cost of living. The median monthly rent is $664 (50% below the US median of $1,319), and the median home value sits at $58,100 (81% below the national median of $304,900). At current prices, the median home costs roughly 2.2x the median household income — well within traditional affordability guidelines.

The median household income in Cleveland is $26,528, which is 65% lower than the national median of $75,149. Residents spend roughly 30% 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.