Economists Salary
In Virginia Beach-Chesapeake-Norfolk, VA-NC, economists earn $103,600 at the median, or about $49.81 an hour. The range runs from $62K at the entry level to $153K for experienced workers. Adjusted for local prices (RPP 97.94), that's roughly $105,779 in purchasing power. Rent on a 2-bedroom averages $1,713/month, or 26.2% of estimated take-home pay.
So what does $104K get you in Virginia Beach-Chesapeake-Norfolk?
Groceries, utilities, transportation, and healthcare scaled from national averages by Virginia Beach-Chesapeake-Norfolk’s Regional Price Parity (97.94). Rent from HUD Fair Market Rents. Taxes estimated for single filer, standard deduction. * Healthcare is the employee-paid share only (premiums + out-of-pocket). Actual costs vary by coverage type: employer-sponsored, ACA marketplace, or uninsured.
About economists
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What this looks like in Virginia Beach-Chesapeake-Norfolk
Pay for economists in Virginia Beach-Chesapeake-Norfolk runs about 17% below the U.S. median of $125K. Rent runs $1,713/month for a 2-bedroom (HUD FMR), taking 27.1% of the median take-home. That's within the 30% rule, though not by much. Cost of living (RPP 97.94) is near the national average, so spending patterns here track the typical American budget fairly closely. Use the affordability calculator above to model your specific situation.
Compared to nearby metros
Median pay for economists in metros near Virginia Beach-Chesapeake-Norfolk, adjusted for local cost of living.
| Metro | Median pay | COL-adjusted |
|---|---|---|
| Richmond | $112K | $115K |
| Washington-Arlington-Alexandria | $157K | $144K |
| Durham-Chapel Hill | $152K | $156K |
| Baltimore-Columbia-Towson | $153K | $146K |
COL-adjusted = median salary ÷ (BEA Regional Price Parity ÷ 100). Expresses purchasing power in national-average dollars.
Compensation breakdown
Annual earnings by percentile, Virginia Beach-Chesapeake-Norfolk, VA-NC
Entry-level economists (10th percentile) start around $62K. Mid-career wages sit at $104K. Top earners bring in $153K or more, a $91K spread from bottom to top.
Economists pay across states
Median income ranked highest to lowest, compared to the national figure
View Economists salary in all states
| State | Median salary | vs. national | Employment |
|---|---|---|---|
| District of Columbia | $168K | +34% | 3,000 |
| New Jersey | $168K | +34% | 280 |
| Delaware | $159K | +28% | 70 |
| Maryland | $145K | +16% | 1,130 |
| Kansas | $139K | +11% | 80 |
| Virginia | $138K | +10% | 950 |
| New York | $137K | +10% | 910 |
| North Carolina | $136K | +9% | 290 |
| Idaho | $131K | +5% | 130 |
| Alabama | $130K | +4% | 40 |
| Georgia | $123K | -2% | 260 |
| Oregon | $122K | -2% | 320 |
| Texas | $121K | -3% | 560 |
| Colorado | $121K | -3% | 240 |
| Ohio | $120K | -4% | 140 |
| California | $119K | -4% | 860 |
| Tennessee | $118K | -6% | 80 |
| Missouri | $117K | -6% | 280 |
| Pennsylvania | $115K | -8% | 560 |
| Alaska | $111K | -11% | 80 |
| Washington | $109K | -12% | 450 |
| Massachusetts | $106K | -15% | 1,030 |
| Michigan | $106K | -15% | 320 |
| Minnesota | $105K | -16% | 500 |
| Florida | $102K | -18% | 500 |
| Connecticut | $101K | -19% | 210 |
| Iowa | $96K | -23% | 70 |
| Arkansas | $92K | -27% | 50 |
| Maine | $91K | -27% | 70 |
| Nevada | $91K | -27% | 70 |
| Oklahoma | $90K | -28% | 80 |
| Montana | $89K | -28% | 90 |
| New Hampshire | $86K | -31% | 50 |
| Wisconsin | $84K | -33% | 280 |
| Hawaii | $83K | -33% | 50 |
| Indiana | $81K | -35% | 80 |
| Arizona | $80K | -36% | 340 |
| Nebraska | $76K | -39% | 90 |
| Louisiana | $73K | -41% | 140 |
| Kentucky | $71K | -43% | 100 |
Showing 1–10 of 40 states with published data
BLS does not publish data for every state when sample sizes are too small
Track economists salary changes
BLS updates this data quarterly. We'll email you when Virginia Beach-Chesapeake-Norfolk numbers change.
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Frequently asked questions
Can a economist afford a 2BR apartment alone in Virginia Beach-Chesapeake-Norfolk?
Yes — at the median salary of $104K, rent takes 27.1% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,713/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for economists in Virginia Beach-Chesapeake-Norfolk?
The 10th-percentile wage — what new economists typically earn — is $62K/year. Take-home on that works out to about $3,694/month. At HUD’s $1,713/month FMR, rent would take 46% of that take-home — above the 30% guideline, so a 1-bedroom or shared housing is likely necessary starting out.
Is economist a high-paying job in Virginia Beach-Chesapeake-Norfolk?
Local pay runs 17% below the national median — $104K here vs. $125K nationally.
How does Virginia Beach-Chesapeake-Norfolk compare to the national average for economists?
Virginia Beach-Chesapeake-Norfolk pays $104K median vs. the U.S. average of $125K — that’s -17%. After adjusting for local cost of living (RPP 97.94), the purchasing-power equivalent is $106K — below the national median.
How much do economists make in Virginia Beach-Chesapeake-Norfolk, VA-NC?
The median is $103,600 a year, that works out to about $50 an hour. But the range is wide: entry-level workers start around $61,570, and experienced economists can clear $152,840. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $104K enough to live in Virginia Beach-Chesapeake-Norfolk?
On that salary, you'd take home roughly $6,319/month after taxes. A 2-bedroom here rents for about $1,713/month, which eats 27.1% of your paycheck. That's under the 30% guideline most financial planners use, so the numbers work.
How far does a economists salary go in Virginia Beach-Chesapeake-Norfolk?
Virginia Beach-Chesapeake-Norfolk has a Regional Price Parity of 97.94 (100 is the national average). That's below average, your money stretches further here than the raw salary number suggests. After cost-of-living adjustment, the median economists salary is worth about $105,779 in national-average purchasing power.
Where do economists get paid the most?
The table above ranks every state by median pay for this role. Keep in mind that the highest-paying states tend to have the highest costs of living, so the top salary doesn't always mean the most money in your pocket.