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Retirement Planning in Newport News city, VA

What does it take to retire comfortably in Newport News city? Here are the numbers.

Median Income

$63,355

Retirement Income (80%)

$50,684

Est. Nest Egg Needed

$712,750

Cost of Living Index

97

Retirement Income Analysis

Income Needs (Annual)

Target Income (80% rule)$50,684
Est. Social Security$22,174
Annual Income Gap$28,510

Housing Costs

Median Rent$1,209/mo
Annual Housing$14,508
Property Tax Rate1.1%
Median Home Value$233,400

About Newport News city, Virginia

Newport News city in Virginia has a median household income of $63,355 and a homeownership rate of 47.6%. Using the 4% rule, retirees in this county would need approximately $712,750 in savings to cover the gap between Social Security and their target retirement income.

These are estimates based on county-level medians. Your actual retirement needs depend on your specific income, expenses, healthcare costs, Social Security benefits, and investment portfolio. Use our calculator for a personalized Monte Carlo analysis.

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Other Counties in Virginia

Fairfax CountyPrince William CountyVirginia Beach cityLoudoun CountyChesterfield CountyHenrico CountyChesapeake cityNorfolk city

County-level data from U.S. Census Bureau American Community Survey (ACS) 2022 5-Year Estimates. Additional sources: SSA, BLS. Estimates based on county-level medians and the 4% withdrawal rule. This is not financial advice.