Cost of Living in New Kent County, Virginia

$1,653/mo

Median Monthly Rent

$371,500

Median Home Value

45% above state averageUnaffordable

At a Glance

Median Monthly Rent

$1,653/mo

45% above state average

Median Home Value

$371,500

32% above national

Rent-to-Income Ratio

32.0%

% 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 New Kent County Compares

Median monthly rent comparison

New Kent County$1,653/mo

Virginia Average$1,140/mo

National Median$1,163/mo

Detailed Housing Stats

$1,653/mo

Median Gross Rent

$371,500

Median Home Value

$1,663/mo

Monthly Owner Cost

32.0%

Rent-to-Income Ratio

Data Story

About Cost of Living in New Kent County, Virginia

Wealth and affordability meet in New Kent

New Kent County's median household income of $120,125 towers 60% above the national median of $74,755, and its 16.5% rent-to-income ratio sits comfortably below Virginia's 18.6% state average. This combination of high incomes and manageable housing costs creates exceptional affordability despite premium price tags.

Virginia's wealthiest, most affordable county

New Kent ranks at the top of Virginia's income hierarchy with a median household income that dwarfs state peers, enabling residents to absorb housing costs easily. The 16.5% rent-to-income ratio—among the state's best—reflects strong earning power offsetting the county's higher absolute prices.

Premium pricing, premium incomes

New Kent's $1,653 median rent is the highest among our sample, reflecting its role as a prosperous Tidewater suburb, yet its 16.5% rent-to-income ratio remains competitive with much cheaper neighbors due to exceptionally high incomes. Compared to Middlesex ($74,154 income) and Montgomery ($70,769), New Kent's $120,125 median income easily supports its elevated housing costs.

High prices, higher paychecks—the math works

Renters dedicate $1,653 monthly to housing (16.5% of a $120,125 income), while homeowners pay $1,663 for mortgages—nearly identical burdens by percentage. This rare symmetry between rent and ownership costs suggests New Kent offers genuine choice for higher-income households.

Premium county for premium incomes

New Kent County suits higher-earning professionals and families relocating to Virginia's Tidewater region who can afford its $1,653 median rent and $371,500 median home value. With household incomes averaging $120,125, New Kent residents enjoy the state's best affordability ratio despite paying top-dollar for housing.

Affordability Calculator

See how your income compares to housing costs in New Kent County

Your Annual Household Income

Rent Burden

16.5%

of gross income

Max Housing (28% Rule)

$2,803

per month

Owner Cost Burden

16.6%

of gross income

The median home in New Kent County may be a stretch

Median home value is $371,500. Estimated monthly cost: $2,966 vs. your max of $2,803.

Rent Affordability Guide

Your rent-to-income ratio16.5%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in New Kent County, Virginia?

New Kent County, Virginia has a median monthly rent of $1,653/mo and a median home value of $371,500. The affordability rating is Unaffordable, with rent making up approximately 32.0% of median household income.

What is the median rent in New Kent County?

The median gross rent in New Kent County is $1,653/mo. This is 45% above state average for Virginia.

Is New Kent County affordable?

New Kent County is rated Unaffordable based on rent-to-income ratio of 32.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does New Kent County's rent compare to the state average?

New Kent County's median rent of $1,653/mo is 45% above state average of $1,140/mo for Virginia.

What is the median home value in New Kent County?

The median home value in New Kent County, Virginia is $371,500. This is 32% above the national median home value of $281,900.