Cost of Living in Kilmarnock, VA

With a cost of living index of 74, Kilmarnock, VA is one of the most affordable cities in the country. Living here is 26% cheaper than the national average and 31% below the Virginia state average of 104. Kilmarnock is a small community of 1,361 residents.

Housing costs are the biggest factor in Kilmarnock's cost of living. The median monthly rent is $582 (56% below the US median of $1,319), and the median home value sits at $257,700 (15% below the national median of $304,900). At current prices, the median home costs roughly 8.1x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Kilmarnock is $31,696, which is 58% lower than the national median of $75,149. Residents spend roughly 22% 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.