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An affordable cost of living makes it easier to attract good people and retain them when your company is located in that area. Employees’ paychecks will stretch farther in Norfolk than in many other parts of the country. As a result, you can offer wages that are competitive, but hold down labor costs compared to other parts of the country, making your company more competive on a global scale.

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Hampton Roads Cost of Living:  (1st Qtr. 2017)

Composite Index 98.6
Groceries 97.2
Housing 92.0
Utilities 105.0
Transportation 96.2
Health Care 98.4
Miscellaneous 103.2
National average 100

 

Here’s how the Hampton Roads MSA compares to other MSAs

City
Composite Index
Food Items
Housing
Health Care
Richmond, VA
95.2
90.1
88.3
105.6
Jacksonville, FL
95.8
101.9
87.4
90.7
Detroit, MI
97.1
91.4
95.1
93.0
Norfolk, VA
98.6
97.2
92.0
98.4
Miami, FL
114.3
108.1
138.4
99.7
Philadelphia, PA
116.2
115.3
129.0
105.4
Baltimore, MD
118.8
114.1
149.8
95.8
Newark, NJ
122.8
105.2
153.3
102.3
Chicago, IL
123.0
109.3
152.5
102.6
Los Angeles
146.3
112.3
238.9
110.0
Washington, DC
153.3
117.3
245.7
99.7
San Francisco, CA
188.5
121.9
351.8
123.7
New York City, NY
230.8
129.0
479.9
114.6

Source: Council for Community and Economic Research, Cost of Living Index 1st Qtr. 2017

Norfolk Department of Economic Development Mission

Generate wealth for the City of Norfolk through business expansion, enhancement, and new business development complementary to our neighborhoods.

Contact Info

(757) 664-4338
500 East Main Street
Suite 1500
Norfolk, VA 23510

Staff Details

Chuck Rigney
Director of Economic Development

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