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Cost of Living in Charlottesville

Is it better to rent or buy in Charlottesville? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$99,044
$1,515/mo

Median in area: $1,515

$453,880

Median in area: $453,880

$90,776

If you Rent

🔑
$1,703 /mo
Base Rent$1,515
Est. Utilities$188
% of Income20.6%
Pre-tax Residual$6,551

If you Buy

🏠
$2,867 /mo
P&I (6.5%)$2,295
Taxes & Ins$384
Est. Utilities$188
% of Income34.7%
Pre-tax Residual$5,387

Cost of Living FAQs

Is it cheaper to rent or buy in Charlottesville?›

Based on median housing data, renting is currently more affordable on a monthly basis in Charlottesville. The estimated all-in monthly cost for renting is $1,703, while owning a median-priced home with a 20% down payment is roughly $2,867 per month (a difference of $1,164).

How much do utilities cost in Charlottesville?›

The average monthly utility cost (electricity and natural gas) for a typical home in Charlottesville is approximately $188. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Charlottesville?›

To comfortably afford the median rent and utilities in Charlottesville without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $68,120 per year.