Cost of Living in Wachapreague, VA

With a cost of living index of 114, Wachapreague, VA is somewhat more expensive than average. Living here is 14% more expensive than the national average and 10% above the Virginia state average of 104. Wachapreague is a small community of 290 residents.

Housing costs are the biggest factor in Wachapreague's cost of living. The median monthly rent is $2,045 (55% above the US median of $1,319), and the median home value sits at $206,300 (32% below the national median of $304,900). At current prices, the median home costs roughly 3.6x the median household income — a moderately affordable ratio by today's standards.

The median household income in Wachapreague is $56,917, which is 24% lower than the national median of $75,149. Residents spend roughly 43% of household income on rent. This is well above the 30% affordability threshold, indicating a significant housing cost burden for many residents.

Climate is another factor for anyone considering a move to Wachapreague. The area sees an average annual temperature of 58.5°F, with summers averaging 76°F and winters around 41°F. Annual rainfall totals 44.5 inches spread over roughly 126 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.