How Much It Costs A Family To Live In Fredericksburg: Study

FREDERICKSBURG, VA—The Economic Policy Institute has released a new Family Budget Calculator which breaks down exactly how much it costs a family of four to live in communities across the country. For Fredericksburg residents, it takes a decent bit of coin to afford to live here.

A Fredericksburg family of two adults and two children need to make $89,119 per year, or $7,427 per month, to attain a "modest yet adequate" standard of living, according to EPI.
The cost break down per month is as follows:

• Housing: $1,181
• Food: $908
• Child care: $1,332
• Transportation: $1,118
• Health care: $949
• Other necessities: $843
• Taxes: $1,095

The cost of living in Fredericksburg is considerably less than the DC metropolitan area average of $105,539, or $8,795 per month. The DC metropolitan area was 10th in the nation for the highest costs of living nationwide. San Francisco was No. 1 with an average cost of $148,440.

"EPI's Family Budget Calculator measures the income a family needs in order to attain a modest yet adequate standard of living," EPI states. "The budgets estimate community-specific costs for 10 family types (one or two adults with zero to four children) in all counties and metro areas in the United States. Compared with the federal poverty line and the Supplemental Poverty Measure, EPI's family budgets provide a more accurate and complete measure of economic security in America."

The calculator is based on 2017 figures.

Reporting by Patch editor Dan Taylor