Alexandria ranks as one of the most desirable places to live and there are a few aspects that persuade people to move here. The scenic Potomac River and the historic Old Town Alexandria are two of the reasons why people come to this place.
Locals tried as much as possible to preserve the architectural design of their historical buildings and walking the streets of Alexandria takes you back in time to relive iconic moments from the history of America. On the other hand, the modern interior design of restaurants brings you back in 2020 for some of the most unique culinary experiences.
Another reason why living in Alexandria is desired by many people, is Alexandria’s location near Washington D.C which allows for fast traveling between the two major cities. Also, Alexandria is one of the safest places to live in the USA according to safety scores. With plenty of activities and amenities for families, it’s easy to see why Alexandria is a good place to live in. But, you might wonder what are the costs of living in Alexandria, VA?
The costs of living in Alexandria VA are quite high and data shows that it is 44% more expensive to live in Alexandria compared to the national average. A family budget calculator released by The Economic Policy Institute breaks down how much are the costs of living in Alexandria for a family of four. Studies indicate that a family of four would have to make a whopping $105,239 per year, to afford to live in Alexandria.
The cost of living in Alexandria is comparable with the DC metropolitan area average which is around $105,539 per year, or $8,785 per month. Data indicates that the DC metropolitan area is 10th in the USA with the highest costs of living and through comparison, San Francisco is no.1 with an average cost of living rounding at $148,440.
Analyzing the high cost of living in Alexandria we can see that housing greatly outweighs other expenses. Median home cost for Alexandria is around $542,000 and it the biggest factor that impacts the cost of living difference. The median home listing price for the USA is $226,800, which places Alexandria way above the national median home price. Going in Alexandria’s expensive housing market to buy a home is challenging and that’s why we recommend you contact one of our top real estate agents in Alexandria VA to make things easier for you.
If you want to rent in Alexandria and you want to know what is the average cost of rent? Alexandria offers a variety of renting options and here we have studio apartments that rent at the lowest price of about $800 and at the other side of the spectrum we have 4-bedroom apartments that rent for up to $3,100 a month.