Cost of Living in Charlottesville city, Virginia
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Charlottesville city Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Charlottesville city ranks #2,525 of 3,144 counties for affordability (bottom 20%)
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.
Cost of Living Advisory: Charlottesville city
Affordability Verdict
Housing in Charlottesville city is affordable. The median rent is $1,453/month against a median household income of $69,829, putting rent at 25.0% of income.
Rent vs. Own
At $1,453/month rent versus $1,661/month in owner costs, renting is roughly $208/month cheaper — a 13% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $58,120/year. For owner costs at the 28% rule, the required income is roughly $71,186/year. With a median household income of $69,829, most households can comfortably afford rent here. Notably, 33.0% of renter households in Charlottesville city are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Virginia, Charlottesville city is more affordable than Frederick County by roughly 4% ($1,453/mo vs $1,402/mo).
Affordability Calculator
See how your income compares to housing costs in Charlottesville city
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
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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