Cost of Living in Colonial Heights city, Virginia

$1,162/mo

Median Monthly Rent

$231,700

Median Home Value

2% above state averageUnaffordable

At a Glance

Median Monthly Rent

$1,162/mo

2% above state average

Median Home Value

$231,700

18% below national

Rent-to-Income Ratio

31.0%

% 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 Colonial Heights city Compares

Median monthly rent comparison

Colonial Heights city$1,162/mo

Virginia Average$1,140/mo

National Median$1,163/mo

Detailed Housing Stats

$1,162/mo

Median Gross Rent

$231,700

Median Home Value

$1,165/mo

Monthly Owner Cost

31.0%

Rent-to-Income Ratio

Data Story

About Cost of Living in Colonial Heights city, Virginia

Colonial Heights hits national affordability sweet spot

At 18.3%, Colonial Heights' rent-to-income ratio sits comfortably near the national affordability standard, giving residents healthy income left for savings and other necessities. Though the city's median household income of $76,250 barely exceeds the national average of $74,755, the modest $1,162 monthly rent keeps housing costs proportional and manageable.

Colonial Heights edges out Virginia's housing affordability average

At 18.3%, Colonial Heights performs slightly better than Virginia's state average of 18.6%, making it one of the more affordable cities in the state. The city's $1,162 median rent also runs below Virginia's state median of $1,140—a rare combination of modest income and modest housing costs.

Colonial Heights offers working-class affordability near wealthy suburbs

Colonial Heights' $1,162 rent is the cheapest among comparable Virginia cities, significantly undercutting nearby Chesapeake ($1,523) and surrounding counties like Chesterfield ($1,542). For military families, retirees, and working-class households seeking Richmond-area access, Colonial Heights delivers exceptional value.

Renters and owners pay nearly identical amounts monthly

Colonial Heights renters pay $1,162 monthly while homeowners carry $1,165—nearly identical, suggesting a balanced market. At 18.3% of a typical $6,354 monthly household income, housing costs consume roughly $1,161, leaving approximately $5,200 for all other expenses.

Colonial Heights suits budget-conscious relocators seeking stability

If you're moving on a modest income ($76K range) and value working-class stability over trendy amenities, Colonial Heights delivers both affordability and military-community support structures. This city works especially well for empty-nesters, retirees, and first-time renters seeking maximum housing affordability in central Virginia.

Affordability Calculator

See how your income compares to housing costs in Colonial Heights city

Your Annual Household Income

Rent Burden

18.3%

of gross income

Max Housing (28% Rule)

$1,779

per month

Owner Cost Burden

18.3%

of gross income

The median home in Colonial Heights city may be a stretch

Median home value is $231,700. Estimated monthly cost: $1,850 vs. your max of $1,779.

Rent Affordability Guide

Your rent-to-income ratio18.3%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Colonial Heights city, Virginia?

Colonial Heights city, Virginia has a median monthly rent of $1,162/mo and a median home value of $231,700. The affordability rating is Unaffordable, with rent making up approximately 31.0% of median household income.

What is the median rent in Colonial Heights city?

The median gross rent in Colonial Heights city is $1,162/mo. This is 2% above state average for Virginia.

Is Colonial Heights city affordable?

Colonial Heights city is rated Unaffordable based on rent-to-income ratio of 31.0%. Spending over 50% of income on rent is generally considered unaffordable.

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

Colonial Heights city's median rent of $1,162/mo is 2% above state average of $1,140/mo for Virginia.

What is the median home value in Colonial Heights city?

The median home value in Colonial Heights city, Virginia is $231,700. This is 18% below the national median home value of $281,900.