Cost of Living in Covington, VA

Housing

The housing market plays a significant role in determining the cost of living in Covington, VA.

• Housing Index: 90.0 / 100
• Median Home Price is: $178000
• Average Rent (2 BR Apartment): $1200 per month
• Average Rent (2 BR House): $1360 per month

Considering the data for Covington, VA, the housing index stands at 90.0, indicating a reasonable affordability level relative to the national average. The median home price of 178000 is quite accessible, making homeownership a feasible option for many. Meanwhile, average rents for a 2-bedroom apartment and house are set at 1200 and 1360, respectively, providing flexibility in rental choices. Ultimately, the balance between renting and buying, alongside local economic factors and job opportunities, will play a crucial role in your decision-making process.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Covington, VA.

• Electricity Price: 15.31 USD (median by state)
• Natural Gas Price: $19.91 USD per Thousand Cubic Feet (median by state)
• Other Utilities (water, garbage, etc.): $200 per month

Living in Covington, VA could entail higher utility costs. Electricity costs sit at 15.31, while natural gas is priced at 19.91 per Thousand Cubic Feet—both aligning with state medians. Expect to budget about 200 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 95.0

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $45737

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Covington, VA, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.