Strategic Advantage
Cost of Living Index & Quality of Life Indicators
The Shenandoah Valley’s Cost of Living Index is consistently below the national average and ranks below other Virginia metros and comparable regions across the U.S. This combination of lower cost of living and strong quality of life allows businesses to operate with lower overhead costs and attract and retain a skilled workforce.
| Metro / Micro | COL Index** | Mean Commute Time | Unemployment (DEC 2021) | Avg. Earnings Per Job (2021) | Population (2021) | Projected Population (2026) |
|---|---|---|---|---|---|---|
| Harrisonburg-Rockingham VA Metro | 96.8 | 19.8 minutes | 1,526 | $56,500 | 136,908 | 142,742 (+4.3%) |
| Staunton-Waynesboro-Augusta VA Metro | 97.5 | 23.1 minutes | 1,442 | $55,700 | 125,478 | 129,349 (+3.1%) |
| Lexington-Buena Vista-Rockbridge VA | 98.4 | 25.9 minutes | 396 | $50,400 | 36,668 | 37,766 (+2.9%) |
| Shenandoah Valley Partnership Region | 99.7 | 25.9 minutes | 4,386 | $54.900 | 383.482 | 384,596 (+3.1%) |
| Washington-Arlington-Alexandria VA Metro | 117.4 | 35.0 minutes | 1122,256 | $103,800 | 6,377,605 | 6,586,948 (+3.3%) |
| Richmond VA Metro | 103.9 | 25.3 minutes | 20,776 | $68,529 | 1,318,614 | 1,384,060 (+5%) |
| Virginia Beach-Norfolk-Newport News VA Metro | 103.7 | 24.6 minutes | 26,881 | $66,759 | 1,790,545 | 1,830,386 (+1%) |
| Charlottesville VA Metro | 106.4 | 23.4 minutes | 2,443 | $72,697 | 222,116 | 231,355 (+4%) |
| Winchester VA Metro | 100.6 | 31.8 minutes | 1,928 | $67,072 | 143,621 | 150,439 (+5%) |
**COL Index: Lightcast’s cost of living data is based on the Cost of Living Index published by the Council for Community and Economic Research (C2ER).
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