Cost of Living in Wise County, 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 Wise County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Wise County ranks #666 of 3,142 counties for affordability (top 21%)
Sourced county brief
Wise County official GRAPI below state unweighted mean
In Wise County, the official GRAPI was 23.1%, positioning the county 5.5 percentage points below the Virginia unweighted county mean of 28.6%. This metric represents the median gross rent as a percentage of household income among renter-occupied units. The median gross rent in the county was $790 per month, which is $380 lower than the state unweighted county mean of $1,170. Median renter-household income was $42,910. Ownership data shows a median home value of $118,600, which is $177,208 below the state unweighted county mean of $295,808. Median selected monthly owner costs for all units were $624, compared to the unweighted county mean of $1,190 across the state. All figures are based on the 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: Wise County
Affordability Verdict
ACS B25071 estimates median gross rent at 23.1% of renter household income in Wise County, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $790 per month; median selected monthly owner costs are $624. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $31,600 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. Wise County's $790 median is 32.5% below that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Wise County
Rent Burden
17.9%
of gross income
Max Housing (28% Rule)
$1,235
per month
Owner Cost Burden
14.1%
of gross income
You can likely afford the median home in Wise County
Median home value is $118,600. Estimated monthly cost: $947 vs. your max of $1,235.
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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