Cost of Living

The ACCRA Cost of Living Index is a measure of regional differences in the cost of consumer goods and services. The index is based on six components: housing, utilities, grocery items, transportation, health care, and miscellaneous goods and services.

The Gateway Region’s Cost of Living Index in the second quarter of 2019 was 92.8, over 7 percent below the national average of 100. The Gateway Region’s communities are remarkably affordable as the cost of living index in each individual community was at least 5.7 percent below the national average in the second quarter of 2019.

City of Colonial Heights	89.2
City of Petersburg	84.9
City of Hopewell	85.7
Dinwiddie County	88.9
Prince George County	93.3
Sussex County	85.6
Surry County	92.1
Gateway Region	92.8
Richmond MSA	94.1
United States	100.0

Source: C2er ACCRA Cost of Living data, imputed by JobsEQ

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Median Home Price

Housing is a major determinant in a community’s overall cost of living or affordability to its residents. Besides miscellaneous goods and services, the housing category contributed most to the overall cost of living index. The median home price of a typical home in the Gateway Region during the second quarter of 2019 was $205,765, 13 percent lower than the national price of $213,099.

City of Colonial Heights	$163,300
City of Petersburg	$112,900
City of Hopewell	$122,400
Dinwiddie County	$160,100
Prince George County	$212,100
Sussex County	$121,600
Surry County	$172,700
Gateway Region	$205,765
United States	$213,099

Source: American Community Survey (2013-2017)

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Median Gross Rent

The median gross rent in the Gateway Region is $938, which was nearly one percent above the national median gross rent of $928.

City of Colonial Heights	$940
City of Petersburg	$842
City of Hopewell	$835
Dinwiddie County	$933
Prince George County	$1,279
Sussex County	$728
Surry County	$823
Gateway Region	$938
United States	$928

Source: U.S. Census Bureau’s 2013-2017 American Community Survey