West Virginia is a state located in the Appalachian region of the United States. Known for its mountains, rivers, and natural beauty, West Virginia has become increasingly popular as a destination for tourists and retirees alike. The cost of living in West Virginia is significantly lower than most other states in the US; the average two-bedroom rent in West Virginia is only $860, while the average two-bedroom rent across the country is $1,430. Furthermore, the grocery cost index in West Virginia stands at 96 while the US index stands at 100. Local businesses in West Virginia include some of the biggest names such as Mylan Pharmaceuticals and Weirton Steel. Other major companies operating out of West Virginia are Walmart, Rite Aid Corporation, Camden Clark Medical Center, Eastern Panhandle Regional Planning & Development Council and Dominion Energy.
West Virginia has an unemployment rate of 6.1%. The US average is 6.0%.
West Virginia has seen the job market increase by 0.5% over the last year. Future job growth over the next ten years is predicted to be 26.0%, which is lower than the US average of 33.5%.
Tax Rates for West Virginia
- The Sales Tax Rate for West Virginia is 6.2%. The US average is 7.3%.
- The Income Tax Rate for West Virginia 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 West Virginia
- The average income of a West Virginia resident is $23,237 a year. The US average is $28,555 a year.
- The Median household income of a West Virginia resident is $50,884 a year. The US average is $69,021 a year.