Chester, VA

Average · 98

Virginia · Population 23,519 · Updated March 2026

$1,463
Median Rent / Month
$88,455
Median Income
$290,600
Median Home Value
$1,399
Owner Costs / Month

Affordability

How far your income goes in Chester

19.8%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Virginia

State-level tax rates that affect your costs

5.75%
Income Tax (Top Rate)
5.3%
Sales Tax
0.8%
Property Tax Rate

Estimated Annual Costs

$17,556
Annual Rent
$5,086
State Income Tax
$2,325
Property Tax (est.)

Cost of Living Overview

Chester has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 98 (where 100 equals the national median), Chester residents can expect to pay median rent of $1,463/month while earning a median household income of $88,455/year.

The median home value in Chester, VA is $290,600, with typical monthly owner costs around $1,399 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.8% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Virginia has a moderate income tax rate of 5.75%. Combined with a 5.3% sales tax rate and 0.8% effective property tax rate, the overall tax environment is a factor in the total cost of living in Chester.

Frequently Asked Questions

Common questions about living costs in Chester

What is the cost of living in Chester, VA?
The cost of living index in Chester, VA is 98 (US average = 100). Median monthly rent is $1,463, median household income is $88,455/year, and the median home value is $290,600.
Is Chester, VA affordable?
Yes, Chester is more affordable than the national average with a cost index of 98. The rent-to-income ratio is 19.8%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Chester, VA?
The median gross rent in Chester, VA is $1,463 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $17,556.
What is the median household income in Chester?
The median household income in Chester, VA is $88,455 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Virginia?
Virginia has a top income tax rate of 5.75%, a sales tax of 5.3%, and an effective property tax rate of 0.8%.