Richwood, WV is a small city located in Nicholas County. It is an affordable location compared to the US average, and boasts many local businesses. The average cost of rent for a two-bedroom apartment in Richwood is $520 per month, more than $900 less than the nationwide average. Similarly, the grocery costs index in Richwood is 93 versus 100 in the US, making this a much cheaper place to live overall. Local companies that contribute to the economy include White Oak Market, A&S Carpet Plus Warehouse Outlet, Matthews Automotive Incorporated and Liddell Tobacco Company. These businesses provide many services and jobs for residents of Richwood.
Richwood has an unemployment rate of 7.0%. The US average is 6.0%.
Richwood has seen the job market decrease by -3.4% over the last year. Future job growth over the next ten years is predicted to be 11.7%, which is lower than the US average of 33.5%.
Tax Rates for Richwood
- The Sales Tax Rate for Richwood is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Richwood 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 Richwood
- The average income of a Richwood resident is $17,252 a year. The US average is $37,638 a year.
- The Median household income of a Richwood resident is $28,958 a year. The US average is $69,021 a year.