Executive Financial Report: Gloucester Point (23062)
Evaluating relocation options in Gloucester? The financial benchmark for residing in Gloucester Point, VA (23062) indicates that a single worker needs roughly $3,493 monthly ($41,918.315 annually) to maintain an adequate standard of living.
Shelter expenses in Gloucester Point occupy a healthy and balanced 25% share of monthly expenditures, averaging $872 per month for rent and utility baselines. This moderate allocation provides residents with sufficient budget elasticity to cover transportation, healthcare, and personal savings goals.
Local earnings in Gloucester Point (23062) demonstrate strong purchasing power. The area median family income of $86,728 significantly exceeds the annual baseline living threshold ($41,918.315) by a ratio of 2.07x. This economic buffer allows local households to comfortably absorb inflationary spikes and build long-term wealth.
On the expenditure side, groceries and essential nutrition require approximately $249 per month in Gloucester Point. Direct tax liabilities consume an estimated $587 monthly (17% of total baseline expenses). Factoring local tax structures into annual compensation planning is highly recommended.
Overall, Gloucester Point (23062) presents a distinct economic profile within Gloucester. Whether you are relocating for career advancement or evaluating localized living expenses, utilizing our interactive tools below will help you tailor these baseline figures to your exact household composition and salary.