Suffolk, VA Salary Guide: The Real Value of a $100,000 Income

You see the six-figure salary offer. It feels like a victory. But in Suffolk, Virginia, the gap between the sticker price and your actual spending power is defined by one massive factor: the tax burden. We break down exactly what a $100,000 salary buys you in this coastal Virginia city.

The Verification Test ($100,000 Analysis)

Let’s run the numbers. A $100,000 salary is the benchmark for financial stability, but it takes a hit the moment it hits your bank account.

The Gross vs. Net Breakdown:

• Sticker Price: $100,000
• Federal Tax: -$13,614
• FICA Tax: -$7,650
• State Tax (VA): -$5,750
• Local Tax: $0

The Reality:
Your Take Home Pay is $72,986 annually.

This represents a 27% tax drag on your income. While Virginia does levy a state income tax, it is significantly lower than high-tax states like New York or California. However, that $5,750 deduction is money that isn't compounding in your investment portfolio.

Smart Budget Breakdown (50/30/20 Rule)

With a monthly net of $6,082, the standard 50/30/20 budget rule provides a rigid framework for wealth building in Suffolk.

Needs ($3,041/mo)

This category covers rent, utilities, groceries, and transportation.

• Purchasing Power: Suffolk’s cost of living is roughly 4% lower than the national average. In neighboring Virginia Beach or Chesapeake, this amount would be tight for a modern one-bedroom. In Suffolk, $3,041 is sufficient to secure a comfortable one-bedroom apartment or a older two-bedroom rental, while leaving room for utilities and a manageable car payment.
• The Verdict: You can afford shelter and food without stress, provided you avoid luxury high-rises near the Waterfront.

Wants ($1,825/mo)

Dining out, subscriptions, and entertainment.

• Lifestyle: Suffolk offers a quieter, suburban lifestyle compared to the bustle of Norfolk. Your "Wants" budget goes further here if you enjoy local dining and outdoor activities (Great Dismal Swamp, Lake Drummond) rather than expensive nightlife.

Savings ($1,216/mo)

Investments, emergency funds, and debt repayment.

• Wealth Creation: This is the most critical number. $1,216 monthly is a strong foundation. If you are renting, this should go directly into a brokerage account or high-yield savings. If you are looking to buy a home in Suffolk, where median home prices hover around $350,000, this savings rate allows you to save roughly $14,500 annually for a down payment.

Suffolk Taxes vs The Competition

How does the "Old Dominion" tax structure treat you compared to major metro hubs?

• Suffolk, VA vs. New York City:
  • NYC combines high state tax with a brutal local city income tax. A $100k earner in NYC would lose over $20,000 more to taxes annually compared to Suffolk. In Suffolk, you keep more of your initial earning power.
• Suffolk, VA vs. Austin, Texas:
  • While Texas boasts "No State Income Tax," property taxes in Texas are among the highest in the nation. Suffolk balances the equation: you pay a modest income tax (5.75% flat), but property tax rates are generally more controlled, making the total tax burden competitive for homeowners.

The Takeaway: Suffolk is a tax-moderate zone. It isn't the absolute lowest tax jurisdiction in the US, but it avoids the predatory taxation of major coastal cities.

Frequently Asked Questions (FAQ)

Q: What is the income tax rate in Suffolk?
A: Suffolk residents pay Federal tax, FICA (7.65%), and Virginia State tax. The Virginia tax is progressive, but caps at 5.75% for income over $17,000. There is no local city income tax.

Q: Is $100,000 a good salary in Suffolk?
A: Yes. With a net take-home pay of roughly $6,082 per month, you are well above the median household income for the area. This salary allows for comfortable housing, discretionary spending, and significant savings.

Q: Does Suffolk have a local city tax?
A: No. Based on current data, Suffolk has a $0 local income tax rate.

Methodology: Federal tax calculations based on 2026 IRS standard single filer tables (Standard Deduction $15,000). Virginia State Tax based on 2024-2025 rates. FICA is fixed at 6.2% Social Security + 1.45% Medicare. Data cross-referenced with Bureau of Labor Statistics (BLS) wage data and State Comptroller reports.