Mount Hope, WV is a small town located in Fayette County with a population of around 1,300 people. It’s known for its affordable housing options, as the rent for a 2 bedroom apartment is $850 compared to the US average of $1,430. The cost of living here is also far lower than the national average as evidenced by its Grocery Cost Index which is 92 versus 100 in the US.
The community has several businesses that contribute to their strong economy such as Heritage Co-op, Mount Hope Tire and Lube, and Mullins Home Center. There are also many recreational activities available such as golf courses and fishing spots at Drennen Lake and Little Beaver State Park. Residents also take advantage of numerous outdoor trails for hiking or biking in Babcock State Park, Hawks Nest State Park, or New River Gorge National River Park.
Overall, Mount Hope offers an exceptional quality of life with desirable housing prices and plenty of outdoor activities to enjoy. With its vibrant economy and friendly atmosphere it’s no wonder why so many people are calling this town home.
Mount Hope has an unemployment rate of 7.8%. The US average is 6.0%.
Mount Hope 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 Mount Hope
- The Sales Tax Rate for Mount Hope is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Mount Hope 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 Mount Hope
- The average income of a Mount Hope resident is $14,632 a year. The US average is $28,555 a year.
- The Median household income of a Mount Hope resident is $25,682 a year. The US average is $69,021 a year.