Petersburg city, Virginia
Income Data
At a Glance
How Petersburg city Compares
Detailed Income Statistics
Data Story
About Household Income in Petersburg city, Virginia
Petersburg struggles with income gap
Petersburg city's median household income of $50,741 falls roughly $24,000 short of the national median of $74,755, placing it in the bottom 20% nationally. This significant income deficit reflects years of economic disinvestment and limited job growth.
Virginia's lowest-income city
Petersburg's $50,741 median household income ranks 32% below Virginia's state average of $74,957, among the lowest in the state. The city's per capita income of $29,590 is also substantially below Virginia's average of $39,155.
Tied with Patrick, below regional peers
Petersburg's $50,741 is nearly identical to Patrick County ($50,938) but well below Nottoway ($62,161) and Page County ($59,396). Only Norton city ($38,497) falls further behind, making Petersburg one of Virginia's economically challenged jurisdictions.
Housing costs consume much income
Petersburg's 26.8% rent-to-income ratio is the highest among these counties, approaching the stress threshold of 30%, with a median home value of $157,900. This leaves households with tighter budgets after housing, making savings and emergencies more challenging.
Prioritize financial stability first
With higher housing cost burdens, Petersburg residents should focus first on building a modest emergency fund ($1,000–2,000) before investing. Seek out employer benefits, community financial counseling programs, and low-cost banking options to maximize every dollar.
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Compare RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.