Cost of Living in Suffolk city, Virginia
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Suffolk city Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Suffolk city ranks #2,832 of 3,144 counties for affordability (bottom 10%)
Data Story
About Cost of Living in Suffolk city, Virginia
Suffolk's Affordability Squeeze
Suffolk city's 19.8% rent-to-income ratio stands among Virginia's highest, exceeding both national and state averages by a significant margin. With $1,484 monthly rent and $90,089 median household income, renters here face tighter housing affordability than most comparable communities nationwide.
Virginia's Tightest Affordability Ratio
Suffolk city's 19.8% rent-to-income ratio ranks worst among all profiled Virginia counties, exceeding the state average of 18.6% by a notable 1.2 percentage points. This tight squeeze reflects the city's position as a major port and military hub where housing demand outpaces supply.
Hampton Roads' Housing Crunch
Suffolk's 19.8% ratio significantly exceeds Southampton County's 16.3% just 40 miles away, illustrating the dramatic affordability differential within the same region. This gap reflects Suffolk's role as a major economic center with higher incomes ($90,089) but proportionally even higher housing costs.
Steep Housing Cost Burden
Renters in Suffolk spend $1,484 monthly while homeowners pay $1,803—a $319 gap reflecting the city's expensive ownership market with $329,600 median home values. Despite the $90,089 median income, both renting and ownership consume a larger percentage of household budgets than surrounding counties.
Suffolk: Premium Port City Pricing
Suffolk city commands Hampton Roads' steepest housing costs ($1,484 rents, $329,600 homes) and worst rent-to-income ratio at 19.8%, reflecting major employer concentration. Compare Suffolk's affordability challenge against nearby Southampton County and rural alternatives before committing to relocation.
Cost of Living Advisory: Suffolk city
Affordability Verdict
Suffolk city is affordable for renters, with a median gross rent of $1,484/month representing approximately 19.8% of median household income. The rent burden (GRAPI) stands at 33.0%.
Rent vs. Own
Renters in Suffolk city pay $1,484/month on average, compared to $1,803/month for homeowners. This market favors renters by about 18%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $59,360/year. For owner costs at the 28% rule, the required income is roughly $77,271/year. With a median household income of $90,089, most households can comfortably afford rent here. Notably, 33.0% of renter households in Suffolk city are cost-burdened, spending more than 30% of income on housing.
Regional Context
Suffolk city sits 4% less expensive than Chesterfield County ($1,542/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Suffolk city
Rent Burden
19.8%
of gross income
Max Housing (28% Rule)
$2,102
per month
Owner Cost Burden
24.0%
of gross income
The median home in Suffolk city may be a stretch
Median home value is $329,600. Estimated monthly cost: $2,631 vs. your max of $2,102.
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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