Cost of living in Centreville

Centreville is one of the cities known for its high cost of living. This well-known Washington suburb is a census-designated place located in Fairfax County. But how high exactly is the cost of living in Centreville? Our Centreville movers are here with the answers. Today we will look at the exact cost of housing, utilities, and other things that contribute to Centreville’s high living costs.

Housing – the number one contributor to the high cost of living in Centreville

It is no surprise that housing is what contributes most to the high cost of living. The median rent for all types of property is $2 350 in March of 2023. That is an increase of 7% compared to last year. Compared to the national average, rents in Centreville are 10% higher. According to movers and packers Northern Virginia, in the past year, rents for one-bedroom apartments have increased the most. The median rent in 2023 for such an apartment in Centreville was $2 271, an increase of 38% compared to last year.

Over 70% of Centreville residents are homeowners. If you are looking to move there with the help of local moving companies Northern Virginia and purchase a home, you can expect prices higher than the national average. In fact, an average single-family home in Centreville’s median price is $488 000. Currently, there are more buyers than there are homes for sale, meaning it’s a seller’s market in Centreville. The real estate market is stable and there aren’t any exceptionally high appreciation rates in Centreville. However, due to population growth of 3% yearly and limited home supply, Centreville can be also considered a good real estate investment opportunity.

Transportation and utility costs

Compared to the national average, housing and transportation cost are more expensive in Centreville. The average commute in Centreville is around 31 minutes, which is less than the national average. This is because Centreville enjoys easy access not only to Washington DC but to all of Northern Virginia, making it a popular small moves Northern Virginia destination. However, the cost of gas and insurance in Virginia is lower than the national average, which can help offset some of the transportation costs. When it comes to utilities, Centreville residents usually pay around $189 for their monthly electricity bills. The total utility bills in Centreville usually add up to $392 monthly, but of course, the exact cost of utilities in Centreville varies because it is based on individual consumption.

So, what makes Centreville an attractive moving destination despite the high living cost?

So how much are the monthly living costs in Centreville? One person’s estimated monthly cost of living in Centreville is approximately $2 798, while a family of four monthly costs is around $5 565. What makes this city attractive enough even though it falls in the top 1% of the most expensive places in the US is mainly the proximity to Washington DC. There are plenty of job opportunities and the economy in Northern Virginia is strong. And not only that but the fact that Centreville falls under the Fairfax County School System which is one of the largest school systems in the US makes this place popular among families.

References:

https://www.bestplaces.net/cost_of_living/city/virginia/centreville