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Cost of Living in Chesterfield County

Is it better to rent or buy in Chesterfield County? 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.

$109,538
$1,819/mo

Median in area: $1,819

$378,182

Median in area: $378,182

$75,636

If you Rent

🔑
$2,027 /mo
Base Rent$1,819
Est. Utilities$208
% of Income22.2%
Pre-tax Residual$7,101

If you Buy

🏠
$2,538 /mo
P&I (6.964%)$2,006
Taxes & Ins$324
Est. Utilities$208
% of Income27.8%
Pre-tax Residual$6,591

Compare Nearby Areas

See how Chesterfield County stacks up against neighboring areas.

countyPowhatan County, VA
$1,035/mo
countyColonial Heights City, VA
$1,367/mo
countyRichmond City, VA
$1,350/mo
countyRichmond City, VA
$1,360/mo
countyAmelia County, VA
$1,335/mo
countyHenrico County, VA
$1,632/mo

Cost of Living FAQs

Is it cheaper to rent or buy in Chesterfield County?›

Based on median housing data, renting is currently more affordable on a monthly basis in Chesterfield County. The estimated all-in monthly cost for renting is $2,027, while owning a median-priced home with a 20% down payment is roughly $2,538 per month (a difference of $511).

How much do utilities cost in Chesterfield County?›

The average monthly utility cost (electricity and natural gas) for a typical home in Chesterfield County is approximately $208. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Chesterfield County?›

To comfortably afford the median rent and utilities in Chesterfield County without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $81,080 per year.