Cost of Living in Mount Hermon, VA

With a cost of living index of 86, Mount Hermon, VA is a very affordable place to live. Living here is 14% cheaper than the national average and 18% below the Virginia state average of 104. Mount Hermon is a small community of 4,326 residents.

Housing costs are the biggest factor in Mount Hermon's cost of living. The median monthly rent is $1,180 (11% below the US median of $1,319), and the median home value sits at $191,400 (37% below the national median of $304,900). At current prices, the median home costs roughly 2.3x the median household income — well within traditional affordability guidelines.

The median household income in Mount Hermon is $82,986, which is 10% higher than the national median of $75,149. Residents spend roughly 17% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

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.