Cost of Living in Chincoteague, VA
Population 3,300 · Virginia · Data vintage 2023
(100 = US avg)
With a median age of 57, Chincoteague functions largely as a retirement market. Housing costs — $329,000 for a typical home — anchor most household budgets, and the state's treatment of pension income tends to matter more than wage-driven tax comparisons. At 8.3%, the local unemployment rate runs well above the US figure, pointing to structural rather than cyclical labor-market issues.
Geographically, Chincoteague lies roughly 80 miles northeast of the nearest major metro, Hampton. Median home values run roughly 41% higher than Hampton's $234,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Chincoteague
The median home value in Chincoteague is $329,200 — 8% above the national median of $305,000. Median rent runs $1,102/month, 16% lower than the national median of $1,314/month. The median household income of $62,292/year is 16% lower than the US median of $74,580. The local unemployment rate is 8.3%, above the national average of 4.8%. Virginia's top state income tax rate is 5.8% and the combined sales tax is 5.6%. The climate averages highs of 66.2°F and lows of 49.3°F, with about 8.4" of annual snowfall. Overall, Chincoteague has a cost of living index of 98 versus the US average of 100, meaning it is 2% less expensive.
Chincoteague has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 46 | 49 | 55 | 64 | 73 | 81 | 86 | 84 | 79 | 69 | 59 | 51 |
| Low °F | 30 | 31 | 37 | 46 | 56 | 65 | 70 | 69 | 63 | 51 | 41 | 34 |
| Precip" | 3.15 | 2.81 | 3.91 | 3.12 | 3.20 | 3.39 | 4.37 | 4.32 | 4.33 | 4.02 | 2.88 | 3.75 |
| Snow" | 3.5 | 2.3 | 0.7 | 0.2 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 1.7 |
Frequently Asked Questions
What is the cost of living in Chincoteague, VA?
Chincoteague has a cost index of 98 (100 = national average). It is 2% below the national average.
What is average rent in Chincoteague, VA?
The median gross rent in Chincoteague is $1,102 per month based on 2023 Census data.
What is the average home price in Chincoteague?
The median home value in Chincoteague is $329,200 according to Zillow and Census data.
What is the median income in Chincoteague?
The median household income in Chincoteague is $62,292 per year (2023 ACS 5-year estimates).
What is the sales tax in Chincoteague, VA?
The combined state and local sales tax rate in Chincoteague is 5.6%. The Virginia state income tax top rate is 5.8%.
Is Chincoteague, VA affordable?
Chincoteague is near the national average in terms of cost of living, with an index of 98 (100 = US average).
What is the weather like in Chincoteague?
Chincoteague has average high temperatures of 66.2°F and average lows of 49.3°F. Annual precipitation is 43.2". Average annual snowfall is 8.4". Data from NOAA 1991–2020 Climate Normals.
Chincoteague at a Glance
- Population
- 3,300
- Median Income
- $62,292
- Home Value
- $329,200
- Median Rent
- $1,102/mo
- Unemployment
- 8.3%
- Avg High Temp
- 66.2°F
- Sales Tax
- 5.6%
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