Radford, VA Cost Of Living
Cost Of Living In Radford, VA Summary
Cost of living in Radford 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 Radford 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 Radford is 91, with 100 being the average.
The cost of living index in Radford is 0.9x lower than the national average.
Radford ranks as the #20 cheapest in Virginia out of 186.
Radford ranks as the #1,804 cheapest out of 6,412 in the US.
The median home value in Radford is $174,700.
The median income in Radford is $44,360.
Table Of Contents
Radford's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Radford, VA?
According to the most recent data on the cost of living, Radford has an overall cost of living index of 91, which is 0.9x lower than the national index of 100.
Compared to Virginia, Radford has a cost of living index that's 0.9x lower than Virginia's index of 102.
The standard of living in Radford ranks as #20 most affordable out of the 186 places we measured in Virginia. By definition, that implies Radford ranks as the #166 most expensive place in the Old Dominion.
For more reading on life in Radford, check out:
- Living In Radford
- Radford Crime Report
- Search Homes For Sale In Radford, VA
In Virginia
In America
Radford Cost Of Living Vs. Virginia
Six factors go into calculating the cost of living index in Radford. Here is how it fairs on each of the criteria:
The Services index in Radford is 95.
The Groceries index in Radford is 93.
The Health index in Radford is 93.
The Housing index in Radford is 80.
The Transportation index in Radford is 90.
The Utilities index in Radford is 87.
| Living Expense | Radford | Virginia | National Average | |
|---|---|---|---|---|
| Overall | 91 | 102 | 100 | |
| Services | 95 | 102 | 100 | |
| Groceries | 93 | 98 | 100 | |
| Health | 93 | 102 | 100 | |
| Housing | 80 | 107 | 100 | |
| Transportation | 90 | 95 | 100 | |
| Utilities | 87 | 102 | 100 | |
Radford, 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 Radford is $174,700.
The Median Rent in Radford is $856.
The Median Income in Radford is $44,360.
The Home Value To Income in Radford is 3.9x.
The Rent To Monthly Income in Radford is 0.23x.
| Statistic | Radford | Virginia | United States |
|---|---|---|---|
| Median Home Value | $174,700 | $295,500 | $244,900 |
| Median Rent | $856 | $1,326 | $1,163 |
| Median Income | $44,360 | $80,615 | $69,021 |
| Home Value To Income | 3.9x | 3.7x | 3.5x |
| Rent To Monthly Income | 0.23x | 0.2x | 0.2x |
Median Home Value
Median Rent
Median Income
Radford, VA Costs By Category
Detailed Radford Services Costs Vs. Virginia
Detailed Radford Groceries Costs Vs. Virginia
Detailed Radford Health Costs Vs. Virginia
Detailed Radford Transportation Costs Vs. Virginia
Detailed Radford Utilities Costs Vs. Virginia
Radford SnackAbility
/10
Cost Of Living In Cities Around Radford
The cost of living varies in the cities and towns around Radford. Here's a quick look at the cost of living in the most populous nearby places:
Roanoke, VA has a cost of living index of 87, 1.0x Radford.
Blacksburg, VA has a cost of living index of 107, 1.2x Radford.
Salem, VA has a cost of living index of 93, 1.0x Radford.
| City | Population | Cost Of Living | Vs. Radford |
|---|---|---|---|
| Roanoke, VA | 99,578 | 87 | 1.0x |
| Blacksburg, VA | 44,385 | 107 | 1.2x |
| Salem, VA | 25,335 | 93 | 1.0x |
| Cave Spring, VA | 25,248 | 98 | 1.1x |
| Christiansburg, VA | 23,174 | 94 | 1.0x |
| Hollins, VA | 15,857 | 92 | 1.0x |
| Martinsville, VA | 13,476 | 81 | 0.9x |
| Mount Airy, NC | 10,547 | 90 | 1.0x |
| Pulaski, VA | 8,984 | 80 | 0.9x |
| Vinton, VA | 8,039 | 85 | 0.9x |
