Great Falls, VA

Very High · 317

Virginia · Population 14,854 · Updated March 2026

$3,463
Median Rent / Month
$250,001
Median Income
$1,342,400
Median Home Value
$4,001
Owner Costs / Month

Affordability

How far your income goes in Great Falls

16.6%
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

$41,556
Annual Rent
$14,375
State Income Tax
$10,739
Property Tax (est.)

Cost of Living Overview

Great Falls has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 317 (where 100 equals the national median), Great Falls residents can expect to pay median rent of $3,463/month while earning a median household income of $250,001/year.

The median home value in Great Falls, VA is $1,342,400, with typical monthly owner costs around $4,001 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.6% 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 Great Falls.

Frequently Asked Questions

Common questions about living costs in Great Falls

What is the cost of living in Great Falls, VA?
The cost of living index in Great Falls, VA is 317 (US average = 100). Median monthly rent is $3,463, median household income is $250,001/year, and the median home value is $1,342,400.
Is Great Falls, VA affordable?
No, Great Falls is more expensive than the national average with a cost index of 317. The rent-to-income ratio is 16.6%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Great Falls, VA?
The median gross rent in Great Falls, VA is $3,463 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $41,556.
What is the median household income in Great Falls?
The median household income in Great Falls, VA is $250,001 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%.