According to a recent report by doxoINSIGHTS, Roanoke households spend an average of $1,811 per month on the 10 most common household bills. This expenditure is 25% lower than Virginia’s state average of $2,406 and 15% below the national average of $2,126.
The study analyzed household expenses across 104 cities and towns in Virginia, ranking Roanoke as the 84th most expensive city in the state for household bills. The report also noted that Roanoke residents allocate 34% of their income to these expenses.
The breakdown of average monthly payments in Roanoke is as follows:
- Mortgage: $1,108
- Rent: $980
- Auto Loans: $396
- Utilities: $335
- Health Insurance: $88
- Auto Insurance: $210
- Cable & Internet: $112
- Mobile Phone: $96
- Alarm & Security: $104
- Life Insurance: $60
In comparison, the average Virginia household spends $2,406 monthly on these bills, which is 13% higher than the national average. The report highlights that Virginia ranks 13th among U.S. states in terms of average monthly household spending.
The doxoINSIGHTS study provides valuable insights into household spending patterns, offering residents a benchmark to assess their expenses relative to state and national averages.
