Cost of Living in Sterling, VA

An Overview of Cost of Living in Sterling, VA

Are you thinking about relocating, but curious about the potential cost of living in Sterling? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Sterling stands at 135, making it 35% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Sterling is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Sterling falls into this category, which may not align with your goal of finding a budget-friendly living environment.

Housing costs make up a big chunk of the cost of living in Sterling, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 102.6% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Is Sterling Affordable?

Wondering if Sterling is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Sterling, for example, the median home price is 105% higher than what folks pay nationally, and monthly rent is 96.8% higher than the usual rates. Plus, income levels matter too, with Sterling boasting a median household income of $101,079, which is 82.7% higher than the national average.

What Factors can Influence the Cost of Living in Sterling?

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Sterling, the utilities index is 10.2% higher than the national average.

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Sterling, the groceries index is 8.3% higher than the national average.

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Sterling, the transportation index is 4.7% lower than the national average.

Where is the Data From?

The Sterling cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.