Cost of Living in Hampton, VA
Housing
The housing market plays a significant role in determining the cost of living in Hampton, VA.
- Housing Index: 110.0 / 100
- Median Home Price is: $305,000
- Average Rent (2 BR Apartment): $1300 per month
- Average Rent (2 BR House): $1200 per month
In Hampton, VA, the housing index of 110.0 indicates a moderately priced real estate market potentially higher than the national average. With a median home price of 305000, entering homeownership may require significant financial commitment. Conversely, renting remains attractive, particularly for a 2-bedroom apartment averaging 1300 and a house at 1200. Basing your decision on your long-term plans and lifestyle preferences will be crucial, as the balance between renting and buying can significantly impact your financial future in this evolving market.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Hampton, 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.): $250 per month
Living in Hampton, 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 $250 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 Hampton is a financially viable option for your relocation.