F
25%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
68%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Manassas Park Virginia National
Cost of living125109100
Goods & Services108100100
Groceries114101100
Health care11299100
Housing168130100
Transportation10095100
Utilities101104100

An Overview of Cost of Living in Manassas Park, VA

Understanding the cost of living in Manassas Park can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Manassas Park cost of living index is 125, which is 25% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

If you value affordability in your search for a new place to live, Manassas Park may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Manassas Park falls into this category, which may not align with your desire for an affordable place to call home.

Housing costs are a very significant part of the Manassas Park cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 67.6% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

The substantial and relentless rise in grocery prices definitely warrants some attention. Over the past two years, grocery expenses have escalated by more than 10%. Having said that, the situation in Manassas Park is even less favorable, with grocery prices here being 13.9% higher than the national average.

Is Manassas Park Affordable?

Is Manassas Park affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Manassas Park, for instance, where the median home price falls 62.3% higher than the national average, and monthly rent rates are 80.1% higher than usual. Additionally, median income levels contribute to the equation, with Manassas Park flaunting a median household income of $81,639, 47.6% higher than the national norm.

What Factors can Influence the Cost of Living in Manassas Park?

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Manassas Park, the standard sales tax rate starts at 5.3%, and the income tax rates commence at 2%.

Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.

Where is the Data From?

The cost of living data in Manassas Park displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Manassas Park is 15% higher than the Virginia average
  • The cost of living in Manassas Park is 25% higher than the national average
  • Manassas Park housing is 68% higher than the national average
  • Virginia general sales tax is 4% higher than the national average
  • Virginia state income tax is 23% lower than the national average

Most Affordable Places to Live in and Around Manassas Park

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Compare Manassas Park, VA Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$110,172$9,181$2,571$3,305
      Renters$59,394$4,950$1,386$1,782
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Manassas Park, VA, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Manassas Park homeowners, is $110,172. This would allow for a maximum of $2,571 per month to be spent on housing costs. For renters, the median monthly income is $59,394 which would result in a maximum of $1,386 to be spent on rental costs.

      Virginia Sales Tax

      State General Sales Tax With Max Surtax
      Virginia 5.3% 6%

      Virginia Income Tax

      State Income Tax (Low) Income Tax (High)
      Virginia 2% 5.75%

      Goods & Services

      Item Manassas Park National avg. Difference
      Haircut $18.62$24.2623.3%
      Beauty Salon $35.20$45.5622.7%
      Toothpaste $3.73$3.700.7%
      Shampoo $1.22$1.285.0%
      Movie $11.20$12.137.7%
      Bowling $19.22$18.006.8%

      Groceries

      Item Manassas Park National avg. Difference
      Ground Beef $5.49$5.846.0%
      Fried Chicken $1.37$1.5713.0%
      Milk $4.73$4.671.3%
      Potatoes $4.76$4.933.5%
      Pizza $12.47$12.093.2%
      Beer $10.83$10.414.1%

      Health Care

      Item Manassas Park National avg. Difference
      Optometrist $109.25$125.6813.1%
      Doctor $94.10$135.7830.7%
      Dentist $109.57$113.293.3%
      Ibuprofen $10.51$10.651.3%
      Lipitor $487.97$468.604.1%

      Housing

      Item Manassas Park National avg. Difference
      Home Price $299,700.00$184,700.0062.3%
      Avg. Mortgage Payment $1,870.08$2,346.6920.3%
      Apartment Rent $1,709.00$949.0080.1%

      Transportation

      Item Manassas Park National avg. Difference
      Gasoline $3.29$3.464.9%
      Tire Balancing $62.25$59.923.9%

      Utilities

      Item Manassas Park National avg. Difference
      All Electricity $248.70$193.9928.2%
      Phone $185.37$192.253.6%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Midland, VA941077.0%
      Calverton, VA721077.0%
      Catlett, VA541077.0%
      Wakefield town, VA810954.6%
      Marumsco, VA38,81511615.8%
      Manassas Park, VA17,54812525.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Wantagh, NY17,54816059.9%
      Lithia Springs, GA17,545927.8%
      Godfrey, IL17,540936.7%
      Marion, IL17,539918.7%
      Paradise, CA17,56011818.1%
      Manassas Park, VA17,54812525.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.