Cost of Living in Springville, VA

With a cost of living index of 61, Springville, VA is one of the most affordable cities in the country. Living here is 39% cheaper than the national average and 44% below the Virginia state average of 104. Springville is a small community of 953 residents.

Housing costs are the biggest factor in Springville's cost of living. The median monthly rent is $597 (55% below the US median of $1,319), and the median home value sits at $94,600 (69% below the national median of $304,900). At current prices, the median home costs roughly 2.1x the median household income — well within traditional affordability guidelines.

The median household income in Springville is $44,286, which is 41% lower than the national median of $75,149. Residents spend roughly 16% 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.

Climate is another factor for anyone considering a move to Springville. The area sees an average annual temperature of 52.1°F, with summers averaging 69°F and winters around 34°F. Annual rainfall totals 41.2 inches spread over roughly 154 days.

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.