Laurel, VA

Average · 98

Virginia · Population 18,180 · Updated March 2026

$1,497
Median Rent / Month
$69,932
Median Income
$272,300
Median Home Value
$1,439
Owner Costs / Month

Affordability

How far your income goes in Laurel

25.7%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

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

$17,964
Annual Rent
$4,021
State Income Tax
$2,178
Property Tax (est.)

Cost of Living Overview

Laurel 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), Laurel residents can expect to pay median rent of $1,497/month while earning a median household income of $69,932/year.

The median home value in Laurel, VA is $272,300, with typical monthly owner costs around $1,439 including mortgage, insurance, and taxes. With a rent-to-income ratio of 25.7%, Laurel falls within the generally affordable range, though it's approaching the 30% burden threshold.

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 Laurel.

Frequently Asked Questions

Common questions about living costs in Laurel

What is the cost of living in Laurel, VA?
The cost of living index in Laurel, VA is 98 (US average = 100). Median monthly rent is $1,497, median household income is $69,932/year, and the median home value is $272,300.
Is Laurel, VA affordable?
Yes, Laurel is more affordable than the national average with a cost index of 98. The rent-to-income ratio is 25.7%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Laurel, VA?
The median gross rent in Laurel, VA is $1,497 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $17,964.
What is the median household income in Laurel?
The median household income in Laurel, VA is $69,932 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%.