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Everyone wants a home that mixes affordability with comfort and West Virginia does this very well. Families love the Mountain State's beaches, midlands, and mountains as tourists before moving here and calling it home.
But before you decide to relocate, you have to do some research into the exact cost of living around the state -- and that's how we're going to help you.
These are the places in West Virginia that cost a pretty penny -- the most expensive cities in the state.
After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in West Virginia for 2022.
So where is the most expensive place to live in West Virginia? That would be Morgantown.
the 2016-2020 American Community Survey for the 26 places in West Virginia with more than 5,000 people.
What's the most expensive place to live in West Virginia? Well, HomeSnacks crunched the numbers and discovered that Morgantown is the most expensive place to live in West Virginia.
So hopefully Weirton (the cheapest place to live in West Virginia) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.
And if you already knew these places were expensive, check out some more reading about West Virginia and the most expensive cities in the country:
The 10 Most Expensive Places To Live In West Virginia For 2022
The median income in Morgantown comes in at $42,474 and the median home value is $215,000 for 2022.
The median income in Martinsburg comes in at $44,363 and the median home value is $162,200 for 2022.
The median income in Elkins comes in at $38,910 and the median home value is $120,100 for 2022.
The median income in Huntington comes in at $33,012 and the median home value is $100,300 for 2022.
The median income in Buckhannon comes in at $42,287 and the median home value is $128,900 for 2022.
The median income in Charleston comes in at $49,769 and the median home value is $156,900 for 2022.
The median income in Charles Town comes in at $77,552 and the median home value is $265,900 for 2022.
The median income in Beckley comes in at $42,972 and the median home value is $109,300 for 2022.
The median income in Bridgeport comes in at $84,295 and the median home value is $229,500 for 2022.
The median income in Fairmont comes in at $45,540 and the median home value is $117,000 for 2022.
Methodology: How We Determined The Most Expensive Places To Live In The Mountain State For 2022
The two most important things to think about when it comes to being able to afford if you can live comes down to:
- How much do money do I make?
- How much do I have spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing it's actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2016-2020 around incomes and costs. They are:
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).
You can then compare these metrics in each of the places in West Virginia to figure out which is the most expensive.
What you are left with is a "Cost of Living Index" by taking the average rank of each of these metrics for each city.
So we used that cost of living index in order to rank all of the 26 places in West Virginia that have more than 5,000 people.
The place with the highest cost of living in West Virginia according to the data is Morgantown. You can download the data here.
Summary: Taking A Chunk Out Of Your Paycheck In West Virginia For 2022
Well there you have it, the places in West Virginia that have the highest cost of living, with Morgantown ranking as the most expensive city in the Mountain State.
Here's a look at the most affordable cities in West Virginia according to the data:
- New Martinsville
For more West Virginia reading, check out:
- Best Places To Live In West Virginia
- Cheapest Places To Live In West Virginia
- Most Dangerous Cities In West Virginia
- Best Places To Raise A Family In West Virginia
- Safest Places In West Virginia
- Worst Places To Live In West Virginia
Detailed List Of The Most Expensive Cities In West Virginia