Cost of Living in Colonial Beach, VA

With a cost of living index of 78, Colonial Beach, VA is a very affordable place to live. Living here is 22% cheaper than the national average and 26% below the Virginia state average of 104. Colonial Beach is a small community of 3,930 residents.

Housing costs are the biggest factor in Colonial Beach's cost of living. The median monthly rent is $763 (42% below the US median of $1,319), and the median home value sits at $242,800 (20% below the national median of $304,900). At current prices, the median home costs roughly 4.7x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Colonial Beach is $52,119, which is 31% 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.