Cost of Living in Isle of Wight County, Virginia

$1,313/mo

Median Monthly Rent

$333,600

Median Home Value

15% above state averageUnaffordable

At a Glance

Median Monthly Rent

$1,313/mo

15% above state average

Median Home Value

$333,600

18% above national

Rent-to-Income Ratio

26.0%

% 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 Isle of Wight County Compares

Median monthly rent comparison

Isle of Wight County$1,313/mo

Virginia Average$1,140/mo

National Median$1,163/mo

Detailed Housing Stats

$1,313/mo

Median Gross Rent

$333,600

Median Home Value

$1,588/mo

Monthly Owner Cost

26.0%

Rent-to-Income Ratio

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.

Affordability Calculator

See how your income compares to housing costs in Isle of Wight County

Your Annual Household Income

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

Your rent-to-income ratio16.4%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Isle of Wight County, Virginia?

Isle of Wight County, Virginia has a median monthly rent of $1,313/mo and a median home value of $333,600. The affordability rating is Unaffordable, with rent making up approximately 26.0% of median household income.

What is the median rent in Isle of Wight County?

The median gross rent in Isle of Wight County is $1,313/mo. This is 15% above state average for Virginia.

Is Isle of Wight County affordable?

Isle of Wight County is rated Unaffordable based on rent-to-income ratio of 26.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Isle of Wight County's rent compare to the state average?

Isle of Wight County's median rent of $1,313/mo is 15% above state average of $1,140/mo for Virginia.

What is the median home value in Isle of Wight County?

The median home value in Isle of Wight County, Virginia is $333,600. This is 18% above the national median home value of $281,900.