Cost of Living in Fairlawn, VA

With a cost of living index of 99, Fairlawn, VA is right around the national average in cost. Living here is 1% cheaper than the national average and 5% below the Virginia state average of 104. Fairlawn is a small community of 2,555 residents.

Housing costs are the biggest factor in Fairlawn's cost of living. The median monthly rent is $1,533 (16% above the US median of $1,319), and the median home value sits at $257,000 (16% below the national median of $304,900). At current prices, the median home costs roughly 3.8x the median household income — a moderately affordable ratio by today's standards.

The median household income in Fairlawn is $67,549, which is 10% lower than the national median of $75,149. Residents spend roughly 27% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability.

Everyday prices in the Blacksburg-Christiansburg-Radford, 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.