Cost of Living in Prince Edward County, Virginia
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Prince Edward County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Prince Edward County ranks #908 of 3,144 counties for affordability (top 29%)
Data Story
About Cost of Living in Prince Edward County, Virginia
Prince Edward offers solid rental affordability
Prince Edward County's rent-to-income ratio of 19.6% sits comfortably within the ideal 20–25% range, despite median household income of $55,082 trailing the national median by nearly $20,000. At just $898 monthly, Prince Edward's median rent is the lowest among the eight counties profiled and significantly undercuts the national norm.
Better than Virginia's state average
Prince Edward's rent-to-income ratio of 19.6% beats Virginia's state average of 18.6%, and its median rent of $898 runs $242 below the state average. For renters with modest incomes, Prince Edward delivers genuine affordability.
Cheapest rent among regional peers
Prince Edward's median rent of $898 undercuts Portsmouth ($1,266), Prince George ($1,563), and even Pulaski ($815 is lower). This makes Prince Edward an attractive option for budget-conscious renters, though those seeking higher incomes may find fewer economic opportunities locally.
Rents and mortgages stay modest
Renters in Prince Edward spend $898 monthly while homeowners face $915 in monthly costs on a median home value of $203,700. At a median household income of $55,082 annually ($4,590 monthly), housing consumes roughly 20% of income for both renters and homeowners—a fair balance.
Prince Edward: Affordable and underrated
Relocating to Prince Edward County means locking in some of Virginia's lowest housing costs without sacrificing affordability ratios. Median rent of $898 and a 19.6% housing burden make this rural county an excellent destination for remote workers or retirees prioritizing stretch-your-dollar living.
Cost of Living Advisory: Prince Edward County
Affordability Verdict
Housing in Prince Edward County is affordable. The median rent is $898/month against a median household income of $55,082, putting rent at 19.6% of income.
Rent vs. Own
Renters in Prince Edward County pay $898/month on average, compared to $915/month for homeowners. This market favors renters by about 2%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $35,920/year. For owner costs at the 28% rule, the required income is roughly $39,214/year. With a median household income of $55,082, most households can comfortably afford rent here. Notably, 30.0% of renter households in Prince Edward County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Virginia, Prince Edward County is more affordable than Cumberland County by roughly 6% ($898/mo vs $847/mo).
Affordability Calculator
See how your income compares to housing costs in Prince Edward County
Rent Burden
19.6%
of gross income
Max Housing (28% Rule)
$1,285
per month
Owner Cost Burden
19.9%
of gross income
The median home in Prince Edward County may be a stretch
Median home value is $203,700. Estimated monthly cost: $1,626 vs. your max of $1,285.
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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