Cost of Living in Fredericksburg city, Virginia
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Fredericksburg city Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Fredericksburg city ranks #2,751 of 3,144 counties for affordability (bottom 12%)
Data Story
About Cost of Living in Fredericksburg city, Virginia
Fredericksburg Strains Housing Budgets
Fredericksburg city renters spend 21.4% of income on housing—well above both the Virginia average (18.6%) and the national comfort zone. With a median household income of $85,368 and steep median rents of $1,521, housing affordability is a real concern for renters here.
Virginia's Least Affordable City
Fredericksburg ranks among Virginia's least affordable cities, with a rent-to-income ratio of 21.4% compared to the state average of 18.6%. The city's proximity to Richmond and Washington markets drives housing pressure on lower-income residents.
Expensive Urban Center
Fredericksburg's $1,521 median rent is comparable to Fauquier County ($1,561) but paired with lower incomes ($85,368 vs Fauquier's $129,495), creating affordability strain. The city functions as a regional urban center with corresponding cost pressures.
Housing Squeezes Household Budgets
Fredericksburg renters spend $1,521 monthly while homeowners pay $2,036, consuming 21.4% of median income on rent alone. This high burden leaves residents less financial flexibility compared to surrounding counties, approaching the threshold where housing costs become genuinely unaffordable.
Consider Fredericksburg Carefully
Fredericksburg's 21.4% rent-to-income ratio is high compared to Virginia alternatives; compare this against your current city before relocating. If you move here, prioritize the income gains—Fredericksburg's appeal lies in job access rather than housing affordability itself.
Cost of Living Advisory: Fredericksburg city
Affordability Verdict
Fredericksburg city is affordable for renters, with a median gross rent of $1,521/month representing approximately 21.4% of median household income. The rent burden (GRAPI) stands at 28.0%.
Rent vs. Own
The median rent in Fredericksburg city is $1,521/month, while owner costs run $2,036/month. Renting saves approximately $515/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $60,840/year. For owner costs at the 28% rule, the required income is roughly $87,257/year. With a median household income of $85,368, most households can comfortably afford rent here. Notably, 28.0% of renter households in Fredericksburg city are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Charlottesville city where rent averages $1,453/month, Fredericksburg city is approximately 5% more expensive.
Affordability Calculator
See how your income compares to housing costs in Fredericksburg city
Rent Burden
21.4%
of gross income
Max Housing (28% Rule)
$1,992
per month
Owner Cost Burden
28.6%
of gross income
The median home in Fredericksburg city may be a stretch
Median home value is $461,500. Estimated monthly cost: $3,684 vs. your max of $1,992.
Rent Affordability Guide
Income Needed Calculator
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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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