Petersburg, VA

Very Low · 69

Virginia · Population 33,365 · Updated March 2026

$1,132
Median Rent / Month
$50,741
Median Income
$157,900
Median Home Value
$1,109
Owner Costs / Month

Affordability

How far your income goes in Petersburg

26.8%
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

$13,584
Annual Rent
$2,918
State Income Tax
$1,263
Property Tax (est.)

Cost of Living Overview

Petersburg is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 69 (where 100 equals the national median), Petersburg residents can expect to pay median rent of $1,132/month while earning a median household income of $50,741/year.

The median home value in Petersburg, VA is $157,900, with typical monthly owner costs around $1,109 including mortgage, insurance, and taxes. With a rent-to-income ratio of 26.8%, Petersburg 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 Petersburg.

Frequently Asked Questions

Common questions about living costs in Petersburg

What is the cost of living in Petersburg, VA?
The cost of living index in Petersburg, VA is 69 (US average = 100). Median monthly rent is $1,132, median household income is $50,741/year, and the median home value is $157,900.
Is Petersburg, VA affordable?
Yes, Petersburg is more affordable than the national average with a cost index of 69. The rent-to-income ratio is 26.8%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Petersburg, VA?
The median gross rent in Petersburg, VA is $1,132 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $13,584.
What is the median household income in Petersburg?
The median household income in Petersburg, VA is $50,741 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%.