Cost of Living in Wakefield, VA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
289.8
100 = national avg
+189.8 vs national average
Living Wage (1 Adult)
$127,495
per year
Living Wage (Family of 4)
$301,352
per year
Cost Index by Category
Housing400.0
Food200.0
Transportation195.6
Healthcare195.6
Utilities200.0
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$2,015
per month
2 Bedroom
$2,246
per month
The overall cost of living index in Wakefield is 289.8, which is 189.8% above the national average. Housing costs are above the national average at an index of 400.0. A single adult needs to earn approximately $127,495 per year to cover basic expenses.