> 10-yr. population growth: 14.3% (18th highest)
> Oct. unemployment rate: 4.2% (17th lowest)
> Poverty rate: 11.2% (11th lowest)
> Life expectancy at birth: 78.5 years (25th highest)
Virginia residents are far more likely to be financially stable than most Americans. The typical household in the Old Dominion State earns $66,262 annually, far more than the $55,775 median annual household income nationwide. Higher incomes in the state contribute to an 11.2% poverty rate, one of the lowest in the nation.
Homeownership can significantly contribute to individual wealth, and Virginia’s 65% homeownership rate is slightly higher than the national average. The typical home in Virginia is worth more than a quarter million dollars, while the median home value nationwide is less than $200,000. Relatively low real estate taxes across the state make homeownership more affordable despite the high property values.