Cost of Living in Independence, VA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
69.3
100 = national avg
-30.7 vs national average
Living Wage (1 Adult)
$30,487
per year
Living Wage (Family of 4)
$72,059
per year
Cost Index by Category
Housing70.6
Food77.7
Transportation55.4
Healthcare82.2
Utilities80.7
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$834
per month
2 Bedroom
$914
per month
The overall cost of living index in Independence is 69.3, which is 30.7% below the national average. Housing costs are below the national average at an index of 70.6. A single adult needs to earn approximately $30,487 per year to cover basic expenses.