Williamsburg, VA

Average · 105

Virginia · Population 15,564 · Updated March 2026

$1,361
Median Rent / Month
$70,206
Median Income
$393,200
Median Home Value
$1,278
Owner Costs / Month

Affordability

How far your income goes in Williamsburg

23.3%
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

$16,332
Annual Rent
$4,037
State Income Tax
$3,146
Property Tax (est.)

Cost of Living Overview

Williamsburg is more expensive than the national average. Higher housing costs are typically the primary driver. With a cost index of 105 (where 100 equals the national median), Williamsburg residents can expect to pay median rent of $1,361/month while earning a median household income of $70,206/year.

The median home value in Williamsburg, VA is $393,200, with typical monthly owner costs around $1,278 including mortgage, insurance, and taxes. The median rent-to-income ratio of 23.3% 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 Williamsburg.

Frequently Asked Questions

Common questions about living costs in Williamsburg

What is the cost of living in Williamsburg, VA?
The cost of living index in Williamsburg, VA is 105 (US average = 100). Median monthly rent is $1,361, median household income is $70,206/year, and the median home value is $393,200.
Is Williamsburg, VA affordable?
No, Williamsburg is more expensive than the national average with a cost index of 105. The rent-to-income ratio is 23.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Williamsburg, VA?
The median gross rent in Williamsburg, VA is $1,361 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $16,332.
What is the median household income in Williamsburg?
The median household income in Williamsburg, VA is $70,206 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%.