Cost of Living in Charlottesville city, Virginia

$1,453/mo

Median Monthly Rent

$448,400

Median Home Value

27% above state averageUnaffordable

At a Glance

Median Monthly Rent

$1,453/mo

27% above state average

Median Home Value

$448,400

59% above national

Rent-to-Income Ratio

33.0%

% 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 Charlottesville city Compares

Median monthly rent comparison

Charlottesville city$1,453/mo

Virginia Average$1,140/mo

National Median$1,163/mo

Detailed Housing Stats

$1,453/mo

Median Gross Rent

$448,400

Median Home Value

$1,661/mo

Monthly Owner Cost

33.0%

Rent-to-Income Ratio

Data Story

About Cost of Living in Charlottesville city, Virginia

Charlottesville's housing crisis strains residents

Charlottesville City's 25% rent-to-income ratio ranks among the nation's highest affordability crises, exceeding Virginia's state average by 35% despite earning $69,829 annually. Renters and buyers here face the region's most severe housing cost burden.

Virginia's most expensive and least affordable city

Charlottesville ranks dead last in Virginia for affordability, with a rent-to-income ratio of 25% and median home values of $448,400—the state's highest. The city's housing market prices out all but the wealthiest residents.

Triple the rent, double the home prices

Charlottesville's $1,453 rent nearly doubles Campbell County's $853 and quadruples Carroll's $687, while $448,400 median homes cost 2.2 times Caroline County's $283,100. The city operates in an entirely different economic universe from surrounding counties.

Quarter of income vanishes to housing costs

Charlottesville renters earning $69,829 devote a severe 25% to $1,453 monthly rent, while owner-occupants spend 28.5% on $1,661 mortgage payments. Both renting and buying consume an outsized share of household budgets here.

Charlottesville for the affluent or relocate

Only households earning $100,000+ comfortably absorb Charlottesville's $1,453 rents and $448,400 home prices; others should compare to nearby Campbell County ($853 rent) or Carroll County ($687 rent) for 50% cost savings. The city's amenities demand premium pricing most relocators cannot justify.

Affordability Calculator

See how your income compares to housing costs in Charlottesville city

Your Annual Household Income

Rent Burden

25.0%

of gross income

Max Housing (28% Rule)

$1,629

per month

Owner Cost Burden

28.5%

of gross income

The median home in Charlottesville city may be a stretch

Median home value is $448,400. Estimated monthly cost: $3,580 vs. your max of $1,629.

Rent Affordability Guide

Your rent-to-income ratio25.0%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Charlottesville city, Virginia?

Charlottesville city, Virginia has a median monthly rent of $1,453/mo and a median home value of $448,400. The affordability rating is Unaffordable, with rent making up approximately 33.0% of median household income.

What is the median rent in Charlottesville city?

The median gross rent in Charlottesville city is $1,453/mo. This is 27% above state average for Virginia.

Is Charlottesville city affordable?

Charlottesville city is rated Unaffordable based on rent-to-income ratio of 33.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Charlottesville city's rent compare to the state average?

Charlottesville city's median rent of $1,453/mo is 27% above state average of $1,140/mo for Virginia.

What is the median home value in Charlottesville city?

The median home value in Charlottesville city, Virginia is $448,400. This is 59% above the national median home value of $281,900.