Cost of Living in Buena Vista city, Virginia
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Buena Vista city Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Buena Vista city ranks #2,174 of 3,144 counties for affordability (bottom 31%)
Data Story
About Cost of Living in Buena Vista city, Virginia
Buena Vista renters strain against high ratios
Buena Vista's rent-to-income ratio of 23.5% significantly exceeds Virginia's state average of 18.6% and pulls above national norms, placing renters in a cost-burdened position. The city's median household income of $54,458 falls $20,300 short of the national median, amplifying affordability pressure.
Among Virginia's most expensive for renters
Buena Vista ranks poorly in Virginia's affordability landscape, with a rent-to-income ratio nearly 27% higher than the state average. Despite modest median home values of $153,500, the rental market here strains household budgets more than nearly any peer county.
Rents spike in Buena Vista despite lower incomes
Buena Vista's $1,067 rent runs 25% above nearby Carroll County ($687) and 56% higher than Charlotte County ($682), yet household incomes lag both neighbors. The city's cost-to-income mismatch creates one of the region's toughest affordability challenges.
Rent dominates Buena Vista household budgets
Renters in Buena Vista devote 23.5% of their $54,458 annual income to housing, while owner-occupants spend 15.3% on mortgage costs of $693 monthly. This 8-percentage-point gap between rental and ownership burdens suggests buying offers relief for those able to access mortgages.
Buena Vista works best for home buyers
If relocating to Buena Vista, prioritize purchasing over renting given the city's strained rental market and comparatively affordable ownership at $153,500 median values. Compare this to nearby Carroll County's even lower costs or Campbell County's balanced rental-to-ownership dynamics.
Cost of Living Advisory: Buena Vista city
Affordability Verdict
Buena Vista city is affordable for renters, with a median gross rent of $1,067/month representing approximately 23.5% of median household income. The rent burden (GRAPI) stands at 30.0%.
Rent vs. Own
Renters in Buena Vista city pay $1,067/month on average, compared to $693/month for homeowners. This market favors buyers by about 35%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $42,680/year. For owner costs at the 28% rule, the required income is roughly $29,700/year. With a median household income of $54,458, most households can comfortably afford rent here. Notably, 30.0% of renter households in Buena Vista city are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Virginia, Buena Vista city is less affordable than Harrisonburg city by roughly 5% ($1,067/mo vs $1,120/mo).
Affordability Calculator
See how your income compares to housing costs in Buena Vista city
Rent Burden
23.5%
of gross income
Max Housing (28% Rule)
$1,271
per month
Owner Cost Burden
15.3%
of gross income
You can likely afford the median home in Buena Vista city
Median home value is $153,500. Estimated monthly cost: $1,225 vs. your max of $1,271.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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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
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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