Cost of Living in Isle of Wight County, Virginia
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Isle of Wight County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Isle of Wight County ranks #1,788 of 3,144 counties for affordability (bottom 43%)
Data Story
About Cost of Living in Isle of Wight County, Virginia
Isle of Wight Balances Income and Affordability
At 16.4%, Isle of Wight County's rent-to-income ratio sits below Virginia's state average of 18.6%, demonstrating solid affordability for a suburban community. With a median household income of $96,118—29% above the national median—residents have strong earning power to cover housing costs comfortably.
Top Affordability Tier in Virginia
Isle of Wight's 16.4% rent-to-income ratio ranks among Virginia's most affordable counties, matching Hanover and Highland despite being a suburban rather than rural area. This South Hampton Roads county delivers accessibility without sacrificing suburban amenities and proximity to major employment centers.
Suburban Value in South Hampton Roads
Isle of Wight's median rent of $1,313 falls well below Henrico ($1,474) and Hanover ($1,496), while its $96,118 median income nearly matches Hanover's $109,504. Home values of $333,600 match Henrico's, but the lower rent burden makes Isle of Wight proportionally more affordable.
Affordable Suburban Housing Mix
Isle of Wight renters spend $1,313 monthly—16.4% of a $96,118 median income—leaving comfortable margin for other household needs. Homeowners face $1,588 monthly costs, but with median home values of $333,600 and strong local incomes, owner-occupied housing remains accessible.
Isle of Wight: Suburban Affordability
If you're relocating to the Hampton Roads region, Isle of Wight offers suburban convenience with a 16.4% rent-to-income ratio—genuinely affordable compared to nearby Henrico. The county's strong income base and lower rents make it an excellent choice for families seeking balance between cost and community amenities.
Cost of Living Advisory: Isle of Wight County
Affordability Verdict
Isle of Wight County is affordable for renters, with a median gross rent of $1,313/month representing approximately 16.4% of median household income. The rent burden (GRAPI) stands at 26.0%.
Rent vs. Own
The median rent in Isle of Wight County is $1,313/month, while owner costs run $1,588/month. Renting saves approximately $275/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $52,520/year. For owner costs at the 28% rule, the required income is roughly $68,057/year. With a median household income of $96,118, most households can comfortably afford rent here. Notably, 26.0% of renter households in Isle of Wight County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Isle of Wight County sits 5% more expensive than King William County ($1,246/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Isle of Wight County
Rent Burden
16.4%
of gross income
Max Housing (28% Rule)
$2,243
per month
Owner Cost Burden
19.8%
of gross income
The median home in Isle of Wight County may be a stretch
Median home value is $333,600. Estimated monthly cost: $2,663 vs. your max of $2,243.
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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