Ranson 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.
IndexRansonWest VirginiaNational
Cost of living index9686100
IndexRansonWest VirginiaNational
Goods & Services index104100100
Groceries index94101100
Health care index10392100
Housing index9160100
Transportation index9097100
Utilities index9588100
A general summary of the cost of living index in Ranson, WV is shown above. Compared to the state average of West Virginia the cost of living index in Ranson, WV is 96, which is 12% higher than the average in West Virginia and compared to the national average it is 4% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Ranson, WV goods and services come in at 4% higher than the average in West Virginia and are 4% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Ranson is 12% higher than the West Virginia average.
  • The cost of living in Ranson is 4% lower than the national average.
  • The cost of housing in Ranson is 9% 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 Ranson, WV Cost of living To Other Cities

Salary Calculator

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The salary calculator is used in order to provide a comparison of your current salary in Ranson, WV to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Ranson, WV, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Ranson, WV salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$59,946$4,996$1,399$1,799
Renters$24,228$2,019$565$727
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Ranson, WV as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Ranson, WV homeowners, is $59,946. This would allow for a maximum of $1,399 per month to be spent on housing costs. For renters, the median monthly income is $24,228 which would result in a maximum of $565 to be spent on rental 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%
When you are determining the total cost of living in Ranson, WV you will want to make sure you consider both the West Virginia sales tax and the West Virginia income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in West Virginia is 6%, with the highest surtax being 7%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in West Virginia have a range from 3% to 6.5%.

Goods & Services

ItemRansonNational 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

ItemRansonNational 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

ItemRansonNational 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

ItemRansonNational avg.Difference
Home Price $152,800.00$175,700.0013.0%
Avg. Mortgage Payment $1,055.75$1,133.236.8%
Apartment Rent $936.00$920.001.7%

Transportation

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

Utilities

ItemRansonNational 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.
Bakersville, MD099-1%
Gapland, MD7899-1%
Brownsville, MD30999-1%
Trego-Rohrersville Station, MD8699-1%
Eakles Mill, MD099-1%
Ranson, WV4,60296-4%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Blue Point, NY4,60215050%
Gibraltar, MI4,60290-10%
Eldon, MO4,60184-16%
Reidland, KY4,60188-12%
South Hill, VA4,60388-12%
Ranson, WV4,60296-4%
Source: The Ranson, WV cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.