Cost of Living in Radford city, Virginia
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Radford city Compares
Median monthly rent comparison
Detailed Housing Stats
Data Story
About Cost of Living in Radford city, Virginia
Radford's rents burden lower-income households
Radford City's rent-to-income ratio of 22.0% sits at the high end of acceptable, driven by median household income of just $52,791—nearly $22,000 below the national median. At $966 monthly, Radford's median rent is moderate, but stretched thin across modest incomes.
Above Virginia's affordability comfort zone
Radford's rent-to-income ratio of 22.0% exceeds Virginia's state average of 18.6%, placing it among the state's less-affordable communities. The city's median rent of $966 runs 15% above the state average, compounding affordability challenges for lower-income residents.
Pricier than Pulaski, cheaper than Portsmouth
Radford's median rent of $966 sits between Pulaski's $815 and Portsmouth's $1,266, reflecting its mid-size city status. Despite moderate rents, Radford's lower-income base (median $52,791) creates higher rent-to-income pressure than Pulaski (16.1%) or Prince Edward (19.6%).
Homeownership slightly more affordable
Renters in Radford pay $966 monthly while homeowners face $867 in monthly costs on a median home value of $211,700. With median household income at $52,791 annually ($4,399 monthly), renters consume 22% of income on housing while homeowners spend just under 20%.
Radford suits budget-conscious homebuyers
Radford City works well for first-time homebuyers with household incomes around $55,000+, where monthly ownership costs ($867) become more affordable than renting. Renters here face tighter budgets, making this city a better choice for those planning to purchase.
Affordability Calculator
See how your income compares to housing costs in Radford city
Rent Burden
22.0%
of gross income
Max Housing (28% Rule)
$1,232
per month
Owner Cost Burden
19.7%
of gross income
The median home in Radford city may be a stretch
Median home value is $211,700. Estimated monthly cost: $1,690 vs. your max of $1,232.
Rent Affordability Guide
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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.