Cost of Living in Rockbridge County-Buena Vista city-Lexington city, VA HUD Nonmetr

How far does a $70,000 salary go in Rockbridge County-Buena Vista city-Lexington city? Estimated income taxes on that gross salary total approximately $10,549 per year — combining federal taxes with Virginia's state income tax. Subtract rent for a 2-bedroom apartment ($1,005/month based on HUD Fair Market Rents for the Rockbridge County-Buena Vista city-Lexington city metro area) and the estimated annual take-home is $47,391, or roughly $3,949 per month for everything else: food, transportation, savings, and discretionary spending.

At a $70,000 salary, the estimated 2-bedroom rent in Rockbridge County-Buena Vista city-Lexington city represents approximately 17% of gross income. That is well within the 30% rule of thumb that financial advisors typically recommend, leaving significant room for savings and discretionary spending.