Cost of Living in Alleghany County, Virginia

$774/mo

Median Monthly Rent

$122,300

Median Home Value

32% below state averageUnaffordableACS 2019-2023 · Updated Dec 2024 Compare this county Explore on Map

At a Glance

Median Monthly Rent

$774/mo

32% below state average

Median Home Value

$122,300

57% below national

Rent-to-Income Ratio

28.0%

% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating

Unaffordable

Rent over 50% of income

How Alleghany County Compares

Median monthly rent comparison

Alleghany County$774/mo

Virginia Average$1,140/mo

National Median$1,163/mo

Detailed Housing Stats

$774/mo

Median Gross Rent

$122,300

Median Home Value

$529/mo

Monthly Owner Cost

28.0%

Rent-to-Income Ratio

National Ranking

Affordability Rank

Alleghany County ranks #1,261 of 3,144 counties for affordability (top 40%)

Most AffordableLeast Affordable

Data Story

About Cost of Living in Alleghany County, Virginia

Alleghany County offers Virginia's most relief

Alleghany residents spend just 16.8% of household income on rent, the lowest ratio in Virginia and well below the national average of 18.6%. With a median household income of $55,160 and median rent of only $774, this rural county delivers genuine housing affordability.

Virginia's most affordable county for renters

Alleghany's rent-to-income ratio of 16.8% ranks as Virginia's best, sitting 1.8 percentage points below the state average of 18.6%. The median gross rent of $774 is the state's lowest, offering relief for lower-income households.

Beats all nearby rural counties on affordability

Alleghany's $774 rent undercuts Amherst ($842), Appomattox ($883), and Accomack ($973), making it the most affordable option in western and rural Virginia. Its rent-to-income ratio of 16.8% is also superior to all surveyed neighbors.

Housing costs stay genuinely modest here

Renters pay just $774 monthly while homeowners pay $529—Virginia's lowest ownership costs—on a median household income of $55,160. Together, housing consumes under 17% of income, genuine relief for working-class families.

Alleghany suits budget-conscious relocators

If you prioritize affordability above all and can embrace rural mountain living, Alleghany offers the state's lowest rents and steepest discounts on home ownership. Remote workers with modest incomes will find this Appalachian county especially welcoming.

Cost of Living Advisory: Alleghany County

Affordability Verdict

Alleghany County offers affordable rental housing at a median of $774/month — about 16.8% of the typical household income here.

Rent vs. Own

Renters in Alleghany County pay $774/month on average, compared to $529/month for homeowners. This market favors buyers by about 32%.

Income Needed

To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $30,960/year. For owner costs at the 28% rule, the required income is roughly $22,671/year. With a median household income of $55,160, most households can comfortably afford rent here. Notably, 28.0% of renter households in Alleghany County are cost-burdened, spending more than 30% of income on housing.

Regional Context

Compared to Bath County where rent averages $825/month, Alleghany County is approximately 6% less expensive.

Affordability Calculator

See how your income compares to housing costs in Alleghany County

Your Annual Household Income

Rent Burden

16.8%

of gross income

Max Housing (28% Rule)

$1,287

per month

Owner Cost Burden

11.5%

of gross income

You can likely afford the median home in Alleghany County

Median home value is $122,300. Estimated monthly cost: $976 vs. your max of $1,287.

Rent Affordability Guide

Your rent-to-income ratio16.8%

Recommended max30.0%

Income Needed Calculator

See how much you need to earn to comfortably afford housing

Your Annual Household Income

Rent Affordability

$0/yr

Needed to stay within recommended threshold

Median income:$0/yr

Can you afford it? Yes

Your income: $55,160Needed: $30,960

Owner Cost Affordability

$0/yr

Needed to stay within recommended threshold

Median income:$0/yr

Can you afford it? Yes

Your income: $55,160Needed: $22,671

Mortgage Affordability

$0/yr

Needed to stay within recommended threshold

Median income:$0/yr

Can you afford it? Yes

Your income: $55,160Needed: $28,463

Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.

Frequently Asked Questions

What is the cost of living in Alleghany County, Virginia?

Alleghany County, Virginia has a median monthly rent of $774/mo and a median home value of $122,300. The affordability rating is Unaffordable, with rent making up approximately 28.0% of median household income.

What is the median rent in Alleghany County?

The median gross rent in Alleghany County is $774/mo. This is 32% below state average for Virginia.

Is Alleghany County affordable?

Alleghany County is rated Unaffordable based on rent-to-income ratio of 28.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Alleghany County's rent compare to the state average?

Alleghany County's median rent of $774/mo is 32% below state average of $1,140/mo for Virginia.

What is the median home value in Alleghany County?

The median home value in Alleghany County, Virginia is $122,300. This is 57% below the national median home value of $281,900.