Economics Teachers, Postsecondary Salary in Virginia: Cost of Living Adjusted (2024)

What does a Economics Teachers, Postsecondary salary really buy you in Virginia?

Virginia is 2.1% pricier than the US average

Data: BLS OEWS 2024 + BEA Regional Price Parities 2022 • Updated 2026-03-31

Nominal Salary

$127,420

Median annual (2024)

→ -2.1%

Real Purchasing Power

$124,799

COL-adjusted (RPP=102.1)

Virginia Cost of Living Index

Virginia's Regional Price Parity (RPP) is 102.1, meaning prices are 2.1% higher the national average. A Economics Teachers, Postsecondary earning $127,420 in Virginia has the equivalent purchasing power of $124,799 in an average-cost US state.

VA: 102.1

Cheapest (~85) US Avg (100) Priciest (~115)

Key Insight

Virginia's cost of living is close to the national average, so $127,420 keeps most of its value at $124,799 in real terms. Location choice here is more about career opportunities than cost arbitrage.

Best States for Economics Teachers, Postsecondary (After Cost of Living)

Where does Economics Teachers, Postsecondary salary stretch the furthest? Top 10 states ranked by COL-adjusted median salary.

1. New Hampshire

$143,903

RPP 107.6

2. Michigan

$132,591

RPP 93.4

3. Alabama

$132,334

RPP 87.8

4. Arizona

$131,841

RPP 99.9

5. Connecticut

$128,411

RPP 106.4

6. New York

$124,981

RPP 107.6

7. Virginia

$124,799

RPP 102.1

8. Pennsylvania

$124,750

RPP 96.2

9. Texas

$124,728

RPP 97.5

10. Illinois

$123,622

RPP 101.3

Virginia ranks #7 out of 39 states for Economics Teachers, Postsecondary after cost-of-living adjustment.

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Frequently Asked Questions

What is the real salary for a Economics Teachers, Postsecondary in Virginia after cost of living?

A Economics Teachers, Postsecondary in Virginia earns a median salary of $127,420 per year. After adjusting for Virginia's cost of living (RPP=102.1), the real purchasing power is $124,799 — a -2.1% difference.

Is Virginia expensive to live in?

Virginia's cost of living is 2.1% higher than the national average according to the BEA Regional Price Parities (2022). The RPP index for Virginia is 102.1 (US average = 100).

What are Regional Price Parities (RPP)?

Regional Price Parities (RPPs) are price indexes published by the U.S. Bureau of Economic Analysis (BEA) that measure differences in price levels across states. They are expressed as a percentage of the national average (US = 100). Higher RPP means higher cost of living.

How is the cost-of-living adjusted salary calculated?

The adjusted salary is calculated as: Nominal Salary x (100 / RPP). For a Economics Teachers, Postsecondary in Virginia: $127,420 x (100 / 102.1) = $124,799. This represents what the salary would be worth in a state with average living costs.

Does the high cost of living in Virginia offset the salary?

Partially — a Economics Teachers, Postsecondary's nominal salary of $127,420 in Virginia has 2.1% less purchasing power due to higher living costs. The real value is $124,799. However, Virginia may offer better career opportunities, networking, and industry access.