Lowes Island, VA

Very High · 224

Virginia · Population 11,199 · Updated March 2026

$2,897
Median Rent / Month
$220,238
Median Income
$777,700
Median Home Value
$3,150
Owner Costs / Month

Affordability

How far your income goes in Lowes Island

15.8%
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

$34,764
Annual Rent
$12,664
State Income Tax
$6,222
Property Tax (est.)

Cost of Living Overview

Lowes Island has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 224 (where 100 equals the national median), Lowes Island residents can expect to pay median rent of $2,897/month while earning a median household income of $220,238/year.

The median home value in Lowes Island, VA is $777,700, with typical monthly owner costs around $3,150 including mortgage, insurance, and taxes. The median rent-to-income ratio of 15.8% 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 Lowes Island.

Frequently Asked Questions

Common questions about living costs in Lowes Island

What is the cost of living in Lowes Island, VA?
The cost of living index in Lowes Island, VA is 224 (US average = 100). Median monthly rent is $2,897, median household income is $220,238/year, and the median home value is $777,700.
Is Lowes Island, VA affordable?
No, Lowes Island is more expensive than the national average with a cost index of 224. The rent-to-income ratio is 15.8%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Lowes Island, VA?
The median gross rent in Lowes Island, VA is $2,897 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $34,764.
What is the median household income in Lowes Island?
The median household income in Lowes Island, VA is $220,238 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%.