Is $40,000 a good salary in Virginia?

$40,000 in Virginia provides a monthly take-home of approximately $2,684 after taxes. Across major Virginia cities, this salary is rated very tight, with an average monthly surplus of $-125.

What is the cost of living on $40,000 in Virginia?

The average monthly living cost across major Virginia cities is approximately $2,809 for a single adult (rent, food, transport, utilities, healthcare). On $40,000 take-home pay of $2,684/month, you would have roughly $-125/month remaining.

Living in Virginia · 2026

Is $40,000 enough to live in Virginia?

Single adult · VA · 2026 tax brackets · Real cost-of-living data

Statewide verdict:Very tight

Monthly take-home

$2,684

Avg monthly expenses

$2,809

Avg monthly surplus

$-125

Savings potential

~0%

After-tax take-home in Virginia

Gross salary$40,000

Federal income tax− $2,694

State income tax− $2,043

Social Security− $2,480

Medicare− $580

Annual take-home$32,203

Effective tax rate19.49%

How $40,000 feels in Virginia cities

Rent: HUD FMR 2026 · Food: USDA Low-Cost Plan × COL · Transport/Utilities/Healthcare: BLS CES × COL

Virginia Beach

COL index: 1.15× national avg

Manageable

Rent (1BR)

$1,450

Food

$462

Transport

$201

Utilities

$190

Healthcare

$230

Total: $2,533/mo

Surplus: $151/mo

Rent burden: 54.0% — Unaffordable (> 50%)

Full Virginia Beach analysis →

Norfolk

COL index: 1.05× national avg

Manageable

Rent (1BR)

$1,350

Food

$440

Transport

$184

Utilities

$173

Healthcare

$210

Total: $2,357/mo

Surplus: $327/mo

Rent burden: 50.3% — Unaffordable (> 50%)

Full Norfolk analysis →

Chesapeake

COL index: 1.13× national avg

Manageable

Rent (1BR)

$1,500

Food

$462

Transport

$198

Utilities

$186

Healthcare

$226

Total: $2,572/mo

Surplus: $112/mo

Rent burden: 55.9% — Unaffordable (> 50%)

Full Chesapeake analysis →

Richmond

COL index: 0.87× national avg

Comfortable

Rent (1BR)

$900

Food

$449

Transport

$152

Utilities

$144

Healthcare

$174

Total: $1,819/mo

Surplus: $865/mo

Rent burden: 33.5% — Manageable (25–35%)

Full Richmond analysis →

Arlington

COL index: 1.58× national avg

Not recommended

Rent (1BR)

$2,400

Food

$682

Transport

$277

Utilities

$261

Healthcare

$316

Total: $3,936/mo

Surplus: $-1,252/mo

Rent burden: 89.4% — Unaffordable (> 50%)

Full Arlington analysis →

Alexandria

COL index: 1.48× national avg

Not recommended

Rent (1BR)

$2,200

Food

$638

Transport

$259

Utilities

$244

Healthcare

$296

Total: $3,637/mo

Surplus: $-953/mo

Rent burden: 82.0% — Unaffordable (> 50%)

Full Alexandria analysis →

50 / 30 / 20 Budget Planner

Based on your monthly take-home of $2,684 ($32,208/yr)

Needs 50%Wants 30%Savings 20%

Needs50%

$1,342

per month

›Rent / mortgage
›Groceries
›Utilities
›Insurance
›Minimum debt payments
›Transportation

Wants30%

$805

per month

›Dining out
›Streaming services
›Gym
›Hobbies
›Travel
›Shopping

Savings20%

$537

per month

›Emergency fund
›401(k) / IRA
›Investments
›Down payment fund
›Debt payoff (extra)

Needs / year

$16,104

Wants / year

$9,662

Savings / year

$6,442

Salary Intelligence

Financial pressure in Virginia Beach

Rent alone would take 54% of take-home income. This salary creates significant financial pressure in this city — a $58,000 annual income or lower rent is needed to reach affordability.

Lifestyle score: 2.7/10 (Challenging)

Lifestyle Assessment

A $40,000 salary can cover essential living costs for a single adult in Virginia Beach, Virginia, but leaves little room for savings (~6% of take-home). Lifestyle is rated challenging, with careful budgeting required to avoid month-to-month shortfalls.

Purchasing Power

Virginia Beach's above-average cost of living (index: 1.15) means $40,000 provides the purchasing power of roughly $34,783 in an average-cost US city, or $41,043 in Austin. Moving to a lower-cost state could effectively increase your take-home by thousands.

State & National Benchmark

$40,000 is 22% below the Virginia individual median of $51,200. Consider negotiating a higher salary or exploring higher-paying roles in this state.

State individual median

$51,200

-22%

State household median

$87,740

-54%

Tax reduction strategies

Maximize 401(k) Contributions — Up to $5,170 in federal tax (22% bracket)

Contribute to a Traditional IRA — Up to $1,540 in federal tax (22% bracket)

$40,000 vs. Virginia income benchmarks

Individual median (Virginia)

$51,200

-22% vs. this salary

Household median (Virginia)

$87,740

-54% vs. this salary

Source: US Census Bureau ACS 2023

Related salary insights

Explore other salary levels in Virginia

$40,000 $60,000 $100,000 $150,000 $200,000 $300,000

Reviewed by

Finance Editor

CPA, 10+ years in personal finance

Data Sources

•Tax calculations: IRS federal tax tables
•Rent data: HUD Fair Market Rents
•Cost-of-living index: C2ER / ACCRA Cost of Living Index

Data updated monthly using government datasets.