Buckhannon cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexBuckhannonWest VirginiaNational
Cost of living index9391100
IndexBuckhannonWest VirginiaNational
Goods & Services index111111100
Groceries index9595100
Health care index9696100
Housing index6660100
Transportation index107107100
Utilities index9393100
Here we can see a simple outline of the cost of living in Buckhannon, WV. As you can see, with the average cost of living in Buckhannon, WV being 93, that puts it 2% higher than the average of West Virginia and 7% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Buckhannon, WV, the price of goods and services are equal to the average of West Virginia as well as 11% higher than the nation's average.

Did you know?

  • The cost of living in Buckhannon is 2% higher than the West Virginia average.
  • The cost of living in Buckhannon is 7% lower than the national average.
  • The cost of housing in Buckhannon is 34% lower than the national average.
  • West Virginia general sales tax is 18% higher than the national average.
  • West Virginia state income tax is 35% higher than the national average.

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Compare Buckhannon, WV Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in Buckhannon, WV to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Buckhannon, WV, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Buckhannon, WV salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$46,921$3,910$1,095$1,408
Renters$17,159$1,430$400$515
If you want to find a good determining factor for the cost of living and the general affordability of housing in Buckhannon, WV, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Buckhannon, WV, the median monthly income is $46,921 for those who own their own homes. Under the standard rule, that income level would allow for $1,095 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $17,159, per the median income in the area. That would allow for renters to spend up to $400 on monthly rental expenses.

West Virginia Sales Tax

StateGeneral Sales TaxWith Max Surtax
West Virginia6%7%

West Virginia Income Tax

StateIncome Tax (Low)Income Tax (High)
West Virginia3%6.5%
For those who live in Buckhannon, WV and want to know what the true cost of living is, they ought to look at both the West Virginia income tax rate and the West Virginia sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In West Virginia, the sales tax is 6%, while the most you'll pay in surtax is 7%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in West Virginia, the income tax rate ranges between 3% to 6.5%.

Goods & Services

ItemBuckhannonNational avg.Difference
Haircut $12.75$14.5912.6%
Beauty Salon $31.18$34.6810.1%
Toothpaste $2.60$2.475.1%
Shampoo $1.20$1.0217.4%
Movie $10.00$9.871.3%
Bowling $3.75$4.3914.6%

Groceries

ItemBuckhannonNational avg.Difference
Ground Beef $4.03$4.4810.0%
Fried Chicken $1.28$1.4612.6%
Milk $2.29$2.362.8%
Potatoes $3.54$3.0615.6%
Pizza $9.18$9.240.7%
Beer $8.76$8.631.5%

Health Care

ItemBuckhannonNational avg.Difference
Optometrist $88.75$99.7811.1%
Doctor $108.67$105.033.5%
Dentist $74.67$88.7015.8%
Ibuprofen $8.93$9.415.1%
Lipitor $315.71$298.505.8%

Housing

ItemBuckhannonNational avg.Difference
Home Price $122,700.00$175,700.0030.2%
Avg. Mortgage Payment $1,224.16$1,081.0313.2%
Apartment Rent $539.00$920.0041.4%

Transportation

ItemBuckhannonNational avg.Difference
Gasoline $2.47$2.0918.0%
Tire Balancing $34.60$45.2923.6%

Utilities

ItemBuckhannonNational avg.Difference
All Electricity$139.34$170.8018.4%
Phone $30.99$28.269.7%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Century, WV18781-19%
Jane Lew, WV47085-15%
Junior, WV50386-14%
Womelsdorf (Coalton), WV26487-13%
Weston, WV4,08888-12%
Buckhannon, WV5,64693-7%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
New Whiteland, IN5,64690-10%
Yarmouth, ME5,64512323%
Red Oak, IA5,64481-19%
Iola, KS5,65079-21%
Atlanta, TX5,63886-14%
Buckhannon, WV5,64693-7%
Source: The Buckhannon, WV cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.