![]() It sits at the convergence of the scenic Kanawha and Elk Rivers. It is known for its historical sites, museums, and impressive architecture. Even the state capitol metro is a large town or small city by most standards.Ĭharleston is the state capital. West Virginia has more communities and neighborhoods than you'd think, but there is a strong emphasis on small-town-style communities. What are some key places to live in West Virginia? The standard rate levied upon purchases is 6%, and local jurisdictions have the authority to increase it by up to 1%. Tax Foundation reports that the average sales tax collected in this state is 6.52%. To determine where you fall within that spectrum and view applicable forms, check out the Tax Division of West Virginia. State income taxes will run from 3% - 6.5% depending on your income level. West Virginia is situated in the middle of the rankings for overall tax burden, ranking at no. These rates equal $1 per every $100 of assessed value. The state's four defined property classes place owner-occupied residential real estate within Class II, so homes are taxed at 60% of their assessed value.Įach county and municipality sets its own millage rates, yet the legislature mandates they stay below a cap of 0.5 for the entire state, 28.6 for counties, 25 for communities, and 45.9 for school board districts. Property taxes in West Virginia are some of the lowest, ranking at No. These are communities where you'll get to know your neighbors. ![]() The largest cities in the state based on population are:Īs you can see, even the "large cities" are relatively small. But, if small-town or city living appeals to you, the state also has you covered. Real estate is primarily rural for most of West Virginia. Home spent a median of 69 days on the market. Like many markets, the number of homes sold in 2022 was down. The median home list price in West Virginia was $284,800 in January 2023, whereas the national average for existing homes was $359,000. Prices are low but steadily increasing, with recent reports showing a 6.4% year-over-year increase. West Virginia is a great place for buyers to purchase property because of its affordability and potential for growth. Now let's talk about the real estate market. Additionally, forest products add an impressive $3.2 billion to the West Virginia economy yearly, creating 30,000 jobs. Government, healthcare, mining, and manufacturing top the list of the largest industries in the state. Nonetheless, its efforts to diversify must be working as economic growth over several years resulted in a rise to No. It has ample room to become more business-friendly, as it was in the dead-last position for this metric. Unfortunately, the US News and World Report ranked West Virginia 48th economically due to its unfavorable business environment. It's relying on those natural resources to draw in big dollars from people seeking beautiful places to play on vacation. The job market in West Virginia is growing, and the government is taking the initiative to attract new and diverse businesses to the state.Īlthough energy and coal remain fundamental elements to the economy, the government sees tourism as its top industry. This family could expect to pay $9,856 for food, $9,986 for housing, and $15,012 for transportation each year, based on 2021 data. So what do you need to make each year to live comfortably here? MIT Living Wage index reports a family of four with one adult working would need to bring home $57,712 after taxes. ![]() Live in a more rural community, and you'll have to travel further to reach your daily essentials or access quality care. The only parts of your budget you might spend more are transportation and healthcare, but that will largely depend on where you buy in West Virginia. This makes West Virginia an attractive option for those looking for an affordable place to live. So you'll pay less for housing, groceries, and utilities. Residents gain a total cost of living significantly lower than the national average - a hefty 20% under, to be exact! No single category in the Sperling Best Places Index exceeds 100, the national average benchmark. Sure, Alabama and Georgia were cheaper, but the state is more affordable than other states we think of as low-cost, like Tennessee and Louisiana. ![]() ![]() West Virginia has one of the nation's lowest living costs, coming in as the ninth lowest for 2022. Let's begin with one of the state's primary advantages. Get an overview of what it's like to live in West Virginia and what you should consider before packing up and heading to the mountains. The Mountain State does have its advantages, but it's not ideal for everyone. Is West Virginia a Good State to Buy a House?Īre you considering buying a house in West Virginia? If so, you've come to the right place. ![]()
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