Cost of Living in Petersburg city, Virginia
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Petersburg city Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Petersburg city ranks #2,435 of 3,142 counties for affordability (bottom 23%)
Sourced county brief
Petersburg City Median Home Value Estimated at $189,000
The median home value in Petersburg city was estimated at $189,000, which is $106,808 below the state unweighted county mean of $295,808. Median gross rent in the city was $1,174 per month, which differs from the state unweighted county mean of $1,170 by $4. According to official ACS B25071 data, the median gross rent as a percentage of household income (GRAPI) was 30.7%. This figure is 2.1 percentage points higher than the Virginia unweighted county mean of 28.6%. The median income for renter households was $45,863. For those with owner-occupied units, the median selected monthly owner costs were $1,058, which is below the state unweighted county mean of $1,190. These housing statistics are provided by the U.S. Census Bureau ACS 2020-2024 5-Year Estimates. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Petersburg city
Affordability Verdict
ACS B25071 estimates median gross rent at 30.7% of renter household income in Petersburg city, which is between the 30% and 50% rent-burden benchmarks. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $1,174 per month; median selected monthly owner costs are $1,058. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $46,960 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The Virginia unweighted mean of county median rents is $1,170 per month. Petersburg city's $1,174 median is 0.4% above that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Petersburg city
Rent Burden
27.8%
of gross income
Max Housing (28% Rule)
$1,183
per month
Owner Cost Burden
25.0%
of gross income
The median home in Petersburg city may be a stretch
Median home value is $189,000. Estimated monthly cost: $1,509 vs. your max of $1,183.
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 (2020-2024). Data is informational only and is not personalized financial advice.
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