Lake Ridge, VA Cost Of Living

Demographics | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Lake Ridge, VA Summary

Cost of living in Lake Ridge research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Lake Ridge is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in Virginia, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in Lake Ridge is 128, with 100 being the average.

  • The cost of living index in Lake Ridge is 1.3x higher than the national average.

  • Lake Ridge ranks as the #104 cheapest in Virginia out of 186.

  • Lake Ridge ranks as the #5,183 cheapest out of 6,412 in the US.

  • The median home value in Lake Ridge is $364,000.

  • The median income in Lake Ridge is $108,654.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
128
Lake Ridge's Overall Cost Of Living
1.3x
Higher Than The National Average

What is the cost of living in Lake Ridge, VA?

According to the most recent data on the cost of living, Lake Ridge has an overall cost of living index of 128, which is 1.3x higher than the national index of 100.

Compared to Virginia, Lake Ridge has a cost of living index that's 1.3x higher than Virginia's index of 102.

The standard of living in Lake Ridge ranks as #104 most affordable out of the 186 places we measured in Virginia. By definition, that implies Lake Ridge ranks as the #82 most expensive place in the Old Dominion.

For more reading on life in Lake Ridge, check out:

104 out of 186
In Virginia
5,183 out of 6,412
In America

Lake Ridge Cost Of Living Vs. Virginia

Six factors go into calculating the cost of living index in Lake Ridge. Here is how it fairs on each of the criteria:

  • The Services index in Lake Ridge is 107.

  • The Groceries index in Lake Ridge is 121.

  • The Health index in Lake Ridge is 101.

  • The Housing index in Lake Ridge is 172.

  • The Transportation index in Lake Ridge is 101.

  • The Utilities index in Lake Ridge is 97.

Living Expense Lake Ridge Virginia National Average
Overall 128 102 100
Services 107 102 100
Groceries 121 98 100
Health 101 102 100
Housing 172 107 100
Transportation 101 95 100
Utilities 97 102 100
For more reading on cost of living around Virginia, check out:
Lake Ridge Cost of Living Vs. VA

Lake Ridge, VA Housing Cost Breakdown

Housing swings affordability the most between places in Virginia, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:

  • The Median Home Value in Lake Ridge is $364,000.

  • The Median Rent in Lake Ridge is $1,903.

  • The Median Income in Lake Ridge is $108,654.

  • The Home Value To Income in Lake Ridge is 3.4x.

  • The Rent To Monthly Income in Lake Ridge is 0.21x.

Statistic Lake Ridge Virginia United States
Median Home Value $364,000 $295,500 $244,900
Median Rent $1,903 $1,326 $1,163
Median Income $108,654 $80,615 $69,021
Home Value To Income 3.4x 3.7x 3.5x
Rent To Monthly Income 0.21x 0.2x 0.2x
Search Homes For Sale In Lake Ridge, VA
$364,000
Median Home Value
$1,903
Median Rent
$108,654
Median Income

Lake Ridge, VA Costs By Category

Detailed Lake Ridge Services Costs Vs. Virginia

Item Lake Ridge Virginia
Shampoo $1.04 $1.06
Movie $12.45 $10.68
Bowling $19.83 $14.67
Haircut $25.56 $18.62
Beauty Salon $56.94 $39.05

Detailed Lake Ridge Groceries Costs Vs. Virginia

Item Lake Ridge Virginia
Ground Beef $4.79 $4.22
Fried Chicken $1.62 $1.39
Milk $2.58 $2.05
Potatoes $4.21 $3.29
Pizza $11.66 $10.62
Beer $10.66 $9.38
Toothpaste $3.52 $2.34

Detailed Lake Ridge Health Costs Vs. Virginia

Item Lake Ridge Virginia
Optometrist $104.67 $108.57
Doctor $128.0 $116.17
Dentist $103.17 $99.13

Detailed Lake Ridge Transportation Costs Vs. Virginia

Item Lake Ridge Virginia
Gasoline $2.24 $2.22
Tire Balancing $51.0 $50.07

Detailed Lake Ridge Utilities Costs Vs. Virginia

Item Lake Ridge Virginia
All Electricity $160.85 $167.67
Phone $177.97 $175.64

Lake Ridge SnackAbility

7
/10
Overall SnackAbility
Jobs
8.5/10
Housing
9
Affordability
6
Diversity
10
Safety
N/A
Amenities
9.5
Education
8
Commute
2

Cost Of Living In Cities Around Lake Ridge

The cost of living varies in the cities and towns around Lake Ridge. Here's a quick look at the cost of living in the most populous nearby places:

  • Burke, VA has a cost of living index of 154, 1.2x Lake Ridge.

  • Woodbridge, VA has a cost of living index of 127, 1.0x Lake Ridge.

  • South Riding, VA has a cost of living index of 156, 1.2x Lake Ridge.

City Population Cost Of Living Vs. Lake Ridge
Burke, VA 44,191 154 1.2x
Woodbridge, VA 42,734 127 1.0x
South Riding, VA 33,828 156 1.2x
Lorton, VA 21,394 140 1.1x
Franklin Farm, VA 18,906 167 1.3x
Fort Hunt, VA 16,322 180 1.4x
Kings Park West, VA 13,812 158 1.2x
Dunn Loring, VA 9,251 183 1.4x
Laurel Hill, VA 8,415 149 1.2x
Long Branch, VA 7,734 147 1.1x

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