Cost of Living in New Kent County, Virginia
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How New Kent County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
New Kent County ranks #1,023 of 3,144 counties for affordability (top 33%)
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.
Cost of Living Advisory: New Kent County
Affordability Verdict
Housing in New Kent County is affordable. The median rent is $1,653/month against a median household income of $120,125, putting rent at 16.5% of income.
Rent vs. Own
At $1,653/month rent versus $1,663/month in owner costs, renting is roughly $10/month cheaper — a 1% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $66,120/year. For owner costs at the 28% rule, the required income is roughly $71,271/year. With a median household income of $120,125, most households can comfortably afford rent here. Notably, 32.0% of renter households in New Kent County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Spotsylvania County where rent averages $1,733/month, New Kent County is approximately 5% less expensive.
Affordability Calculator
See how your income compares to housing costs in New Kent County
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
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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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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