One of the most important things whenever relocating to another area is to figure out if your finances will fit the expenses from the new location. When moving to Arlington, VA you have to make sure your income would cover your monthly expenses because Arlington is not cheap.
The average cost of living in Arlington, VA is 59.6% higher than the U.S. average. While Arlington still is the home of some of the most comfortable incomes, the housing costs make for an expensive lifestyle.
There is no way to sugar coat this as housing is the most important factor that influences this. Back in 2018 the average household income in Arlington, VA was $122,000 while housing costs were at a median of $676,000. At that time it was the fifth county for the highest median household income in the U.S.
As the biggest influencer of the increased cost of living, housing in Arlington, VA is 37.1% more expensive than the rest of the country. The median house price in Arlington, VA is currently at $782,000 having increased by 6.1% since 2019 and is expected to increase further by 4.4% by 2021. These prices also influenced the rental market in Arlington to increase in the number of renters. If approximately 2 years ago about 55% of Arlingtonians were homeowners, now, that percentage decreased to 46%. Rentals are an increasing trend with rental prices of about $2,500.
Many see Arlington as a big suburb of Washington D.C. as housing costs are expensive there as well. It completely depends on the location of the home you find and for that you can contact the top local real estate agents in Arlington, VA.
Grocery prices in Arlington are also higher than the national average by 14%. For example a gallon of milk is $0.4 more expensive than the national average while beef round (1lb) is almost $1.7 more expensive in Arlington, VA.
Transportation can vary depending on the routes you take but looking at a monthly pass, in Arlington, VA you’ll pay $152.50 while the U.S. average is $75. The public transportation in Arlington is very well organized and it also provides connections to Washington D.C. where many people wind up commuting for work.
For further information you can look at the Economic Policy Institute where you can calculate the expected expenses for one month or a year. In Arlington you can find great jobs, great schools and great transit so don’t let the housing costs deter you from moving here.