West Virginia Cost Of Living Statistics


Steve Goldstein
Steve Goldstein
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West Virginia Cost Of Living Statistics 2023: Facts about Cost Of Living in West Virginia reflect the current socio-economic condition of the state.

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LLCBuddy editorial team did hours of research, collected all important statistics on West Virginia Cost Of Living, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to start a West Virginia LLC business in 2023? Maybe for educational purposes, business research, or personal curiosity, whatever it is – it’s always a good idea to gather more information.

How much of an impact will West Virginia Cost Of Living Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top West Virginia Cost Of Living Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 14 West Virginia Cost Of Living Statistics on this page 🙂

West Virginia Cost Of Living “Latest” Statistics

  • West Virginia has the lowest renter rate of any state, with 27.1% of occupied residences in the state being leased for less than the national average of 36.2%.[1]
  • More than 1 in 10 individuals in West Virginia had diabetes, making the state the second highest in the country.[2]
  • The Morgantown metro region is the most costly in the state, where the cost of goods and services is 2.1% more expensive than the average for the whole state while being 10.1% less expensive than the national average.[1]
  • West Virginia’s proportion of people who were born abroad in 2018 was 16.4%, which indicates that the rate has been rising.[3]
  • Private insurance covers over half of West Virginia people (45.1%), followed by Medicare (24.3%) and Medicaid (15.9%).[2]
  • In the previous year, 14.6% of West Virginia residents could not afford necessary medical care.[2]
  • The rate of uninsured persons in West Virginia aged 18-64 was at an all-time low of 9.3%, compared to 14.1% overall.[2]
  • In West Virginia in 2021, 11.2% of the population had significant housing difficulties.[3]

West Virginia Cost Of Living “Latest” Statistics

  • Employment in West Virginia fell by 0.00182% between 2019 and 2020, from 714k to 714k workers.[3]
  • Agriculture, Forestry, Fishing & Hunting, & Mining ($63,909), Transportation & Warehousing, & Utilities ($53,639), and Public Administration ($51,714) have the highest median incomes for males in 2020 in West Virginia.[3]
  • Public Administration ($39,566), Manufacturing ($38,554), and Wholesale Trade ($35,656) have the highest median wages for women in 2020 in West Virginia.[3]
  • West Virginia has 145 million people employed as of May 2021, representing an 8.45% increase in employment over May 2020.[3]
  • The median household income in West Virginia increased to $48,037 in 2020, up from $46,711 the previous year.[3]
  • In 2020, 82% of West Virginia employees traveled alone to work, followed by 8.64% who carpooled and 4.57% who worked from home.[3]

Also Read

How Useful is West Virginia Cost of Living

One of the most tangible benefits of a lower cost of living in West Virginia is the increased purchasing power it affords residents. With lower housing costs, groceries, and utilities, individuals and families can stretch their dollars further and have more financial flexibility. This can lead to a better quality of life overall, as individuals can spend more on experiences, education, or savings for the future.

Additionally, West Virginia’s cost of living can be a boon to businesses and employers. Lower operating costs can translate to lower prices for goods and services, making the state more attractive to companies looking to establish or expand operations. This can result in increased economic activity, job creation, and overall prosperity for the state.

From a societal standpoint, the affordability of living in West Virginia can help combat poverty and income inequality. With lower costs for basic necessities, individuals at all income levels have a better chance of meeting their needs and improving their standard of living. This, in turn, can lead to a more robust and resilient community that is better equipped to weather economic downturns or unforeseen challenges.

Another key aspect of West Virginia’s cost of living is its impact on education and healthcare. As essential services, education, and healthcare are often major expenses for families, individuals, and the state as a whole. With a lower cost of living, residents may have more resources to devote to these critical services, ensuring access to quality education and healthcare for all members of the community.

Furthermore, West Virginia’s cost of living can be a draw for individuals seeking a change of pace or a more relaxed lifestyle. Affordability can make it easier for individuals to relocate to the state, whether for retirement, job opportunities, or a fresh start. This can lead to a diverse and vibrant population that contributes to the cultural and economic fabric of West Virginia.

In conclusion, the usefulness of West Virginia’s cost of living goes far beyond mere affordability. It can unlock opportunities for individuals, businesses, and communities to thrive and prosper. With a lower cost of living, residents have increased purchasing power, businesses can operate more efficiently, and society as a whole can benefit from a higher quality of life. West Virginia’s cost of living is a valuable asset that should be celebrated and leveraged for the benefit of all who call the state home.

Reference

  1. 247wallst – https://247wallst.com/state/cost-of-living-in-west-virginia/
  2. wv – https://dhhr.wv.gov/hpcd/data_reports/pages/fast-facts.aspx
  3. datausa – https://datausa.io/profile/geo/west-virginia

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