Charles Town 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.
IndexCharles TownWest VirginiaNational
Cost of living index10186100
IndexCharles TownWest VirginiaNational
Goods & Services index104100100
Groceries index94101100
Health care index10392100
Housing index10760100
Transportation index9097100
Utilities index9588100
Here we can see a simple outline of the cost of living in Charles Town, WV. As you can see, with the average cost of living in Charles Town, WV being 101, that puts it 17% higher than the average of West Virginia and 1% higher 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 Charles Town, WV, the price of goods and services are 4% higher than the average of West Virginia as well as 4% higher than the nation's average.

Did you know?

  • The cost of living in Charles Town is 17% higher than the West Virginia average.
  • The cost of living in Charles Town is 1% higher than the national average.
  • The cost of housing in Charles Town is 7% higher 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.

Find Real Estate Listings In Charles Town

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Charles Town

Compare Charles Town, WV Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
Use the salary calculator to compare your current income in Charles Town, 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 Charles Town, WV, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Charles Town, 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$80,887$6,741$1,887$2,427
Renters$26,250$2,188$612$788
The affordability of the housing market in Charles Town, WV as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Charles Town, WV homeowners, the median income is $80,887. This indicates that a monthly maximum of $1,887 should be spent by homeowners on all housing related costs. Renters have a median income of $26,250. This indicates that renters should have a maximum of $612 used for their rent related monthly costs.

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%
The West Virginia sales tax and West Virginia income tax rates should definitely be considered when determining the overall cost of living in Charles Town, WV. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The West Virginia sales tax is 6% and the maximum surtax is 7%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The West Virginia income tax rates range from 3% to 6.5%.

Goods & Services

ItemCharles TownNational avg.Difference
Haircut $10.22$15.5634.4%
Beauty Salon $30.25$36.1116.2%
Toothpaste $3.08$2.4724.6%
Shampoo $1.19$0.9623.0%
Movie $9.67$10.134.5%
Bowling $4.67$4.741.4%

Groceries

ItemCharles TownNational avg.Difference
Ground Beef $3.95$3.980.8%
Fried Chicken $1.17$1.4116.9%
Milk $1.81$2.0612.5%
Potatoes $3.08$2.983.2%
Pizza $9.83$9.473.8%
Beer $9.36$8.796.4%

Health Care

ItemCharles TownNational avg.Difference
Optometrist $89.89$101.0411.0%
Doctor $104.33$107.442.9%
Dentist $98.75$90.429.2%
Ibuprofen $9.77$9.285.3%
Lipitor $422.49$426.500.9%

Housing

ItemCharles TownNational avg.Difference
Home Price $201,200.00$175,700.0014.5%
Avg. Mortgage Payment $1,055.75$1,133.236.8%
Apartment Rent $816.00$920.0011.3%

Transportation

ItemCharles TownNational avg.Difference
Gasoline $1.94$1.992.8%
Tire Balancing $33.88$45.7626.0%

Utilities

ItemCharles TownNational avg.Difference
All Electricity$157.60$163.813.8%
Phone $27.03$28.394.8%
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.
Trego-Rohrersville Station, MD8699-1%
Brownsville, MD30999-1%
Eakles Mill, MD099-1%
Yarrowsburg, MD1499-1%
Gapland, MD7899-1%
Charles Town, WV5,4641011%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Apple Valley, OH5,46593-7%
Whiteville, NC5,46588-12%
Watseka, IL5,46384-16%
Coal City, IL5,46099-1%
Adams, MA5,460100-0%
Charles Town, WV5,4641011%
Source: The Charles Town, WV cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.