Deep Water, WV is a small town located in the eastern part of the state. It offers an affordable cost of living and is known for its stunning natural beauty. The average rent for two bedrooms in Deep Water is $790, which is significantly lower than the US average of $1,430. Grocery prices are also significantly lower than other parts of the US with an Index of 90 as opposed to 100 nationally.
The local economy is driven by small businesses such as Lewis & Clark Motors, Blackwater Outfitters and Longview Resort. These companies provide job opportunities for residents as well as services for visitors to the area. In addition to these local businesses, Deep Water also attracts larger companies such as West Virginia Coal Company and Appalachian Power who provide further employment opportunities. With a variety of businesses and industries in town, Deep Water has a thriving job market that can support both its permanent population as well as seasonal workers from outside the area.
Deep Water has an unemployment rate of 7.8%. The US average is 6.0%.
Deep Water has seen the job market decrease by -0.3% over the last year. Future job growth over the next ten years is predicted to be 18.3%, which is lower than the US average of 33.5%.
Tax Rates for Deep Water
- The Sales Tax Rate for Deep Water is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Deep Water is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Deep Water
- The average income of a Deep Water resident is $17,898 a year. The US average is $28,555 a year.
- The Median household income of a Deep Water resident is $43,235 a year. The US average is $69,021 a year.