The Cost of Living in Gloucester

How much does it cost to Live in Gloucester?

Gloucester, Virginia, offers a unique blend of rural charm and modern conveniences. As you consider making Gloucester your home, it's essential to understand the cost of living in this picturesque county. Let's break down the key factors that contribute to the overall cost of living in Gloucester.

Housing Costs

Housing is typically the most significant expense in any household budget. In Gloucester, the housing market offers a range of options to suit various budgets and preferences.

• Median Home Price: As of June 2024, the median home price in Gloucester is approximately $360,900. This is lower than the national median, making Gloucester an attractive option for homebuyers.
• Rent: The average rent for a one-bedroom apartment in Gloucester is around $1407 per month, while a three-bedroom home might rent for $1,508 to $2,456 per month.

Utilities

Utility costs in Gloucester are generally in line with the national average:

• Electricity: The average monthly electricity bill is around $120-$150.
• Water and Sewer: Expect to pay about $50-$70 per month for water and sewer services.
• Internet: High-speed internet plans start at about $50 per month.

Groceries and Food

Grocery costs in Gloucester are slightly below the national average. A family of four might spend around $800-$1,000 per month on groceries.

Transportation

Transportation costs can vary depending on your commute and vehicle choice:

• Gas Prices: As of 2023, gas prices in Gloucester average around $3.00 per gallon.
• Vehicle Ownership: Annual costs for owning and operating a vehicle, including insurance, maintenance, and registration, can range from $5,000 to $8,000.

Healthcare

Healthcare costs in Gloucester are generally on par with the national average. The presence of Riverside Walter Reed Hospital ensures access to quality healthcare services.

Taxes

Understanding local taxes is crucial when calculating your cost of living:

• Property Tax: Gloucester's property tax rate is $0.695 per $100 of assessed value.
• Sales Tax: The combined state and local sales tax rate in Gloucester is 5.3%.

Entertainment and Recreation

Gloucester offers many free or low-cost recreational activities, thanks to its natural beauty and historical sites. However, budgeting for entertainment is still important:

• A meal at a mid-range restaurant might cost $15-$25 per person.
• Movie tickets average around $12 per person.
• Many outdoor activities, such as visiting local parks or beaches, are free or low-cost.

Overall Cost of Living Index

According to recent data, Gloucester's overall cost of living index is 94.7, where 100 is the national average. This means that, on average, it's about 5.3% less expensive to live in Gloucester compared to the average U.S. city.

Conclusion

Gloucester offers a relatively affordable cost of living, especially when compared to larger metropolitan areas. Its combination of reasonable housing costs, lower-than-average grocery prices, and abundant natural amenities make it an attractive option for those seeking a balance between quality of life and affordability.

Remember, individual experiences may vary based on lifestyle choices and specific circumstances. It's always a good idea to create a detailed budget based on your personal needs and preferences when considering a move to Gloucester, VA.