Cost of Living in Mineral, VA

With a cost of living index of 93, Mineral, VA is slightly more affordable than average. Living here is 7% cheaper than the national average and 11% below the Virginia state average of 104. Mineral is a small community of 599 residents.

Housing costs are the biggest factor in Mineral's cost of living. The median monthly rent is $1,199 (9% below the US median of $1,319), and the median home value sits at $226,100 (26% below the national median of $304,900). At current prices, the median home costs roughly 3.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Mineral is $64,500, which is 14% 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.

Everyday prices in the Washington-Arlington-Alexandria, DC-VA-MD-WV (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 6 are priced higher 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.