Lake Ridge, VA

Very High · 144

Virginia · Population 45,007 · Updated March 2026

$2,011
Median Rent / Month
$120,844
Median Income
$452,800
Median Home Value
$2,110
Owner Costs / Month

Affordability

How far your income goes in Lake Ridge

20.0%
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

$24,132
Annual Rent
$6,949
State Income Tax
$3,622
Property Tax (est.)

Cost of Living Overview

Lake Ridge has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 144 (where 100 equals the national median), Lake Ridge residents can expect to pay median rent of $2,011/month while earning a median household income of $120,844/year.

The median home value in Lake Ridge, VA is $452,800, with typical monthly owner costs around $2,110 including mortgage, insurance, and taxes. The median rent-to-income ratio of 20.0% 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 Lake Ridge.

Frequently Asked Questions

Common questions about living costs in Lake Ridge

What is the cost of living in Lake Ridge, VA?
The cost of living index in Lake Ridge, VA is 144 (US average = 100). Median monthly rent is $2,011, median household income is $120,844/year, and the median home value is $452,800.
Is Lake Ridge, VA affordable?
No, Lake Ridge is more expensive than the national average with a cost index of 144. The rent-to-income ratio is 20.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Lake Ridge, VA?
The median gross rent in Lake Ridge, VA is $2,011 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $24,132.
What is the median household income in Lake Ridge?
The median household income in Lake Ridge, VA is $120,844 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%.