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Cost of Living in Colonial Heights City

Is it better to rent or buy in Colonial Heights City? 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.

$80,603
$1,367/mo

Median in area: $1,367

$238,669

Median in area: $238,669

$47,734

If you Rent

🔑
$1,592 /mo
Base Rent$1,367
Est. Utilities$225
% of Income23.7%
Pre-tax Residual$5,125

If you Buy

🏠
$1,753 /mo
P&I (7.154%)$1,290
Taxes & Ins$238
Est. Utilities$225
% of Income26.1%
Pre-tax Residual$4,964

Compare Nearby Areas

See how Colonial Heights City stacks up against neighboring areas.

countyPetersburg City, VA
$1,220/mo
countyPetersburg City, VA
$1,179/mo
countyChesterfield County, VA
$1,819/mo

Cost of Living FAQs

Is it cheaper to rent or buy in Colonial Heights City?›

Based on median housing data, renting is currently more affordable on a monthly basis in Colonial Heights City. The estimated all-in monthly cost for renting is $1,592, while owning a median-priced home with a 20% down payment is roughly $1,753 per month (a difference of $161).

How much do utilities cost in Colonial Heights City?›

The average monthly utility cost (electricity and natural gas) for a typical home in Colonial Heights City is approximately $225. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Colonial Heights City?›

To comfortably afford the median rent and utilities in Colonial Heights City without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $63,680 per year.