Pea Ridge, West Virginia Cost Of Living

Buy Rent

B

Overall 11%

Goods & Services 7%

Housing 23%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Pea Ridge	West Virginia	National
Cost of living	89	86	100
Goods & Services	93	100	100
Groceries	100	97	100
Health care	88	88	100
Housing	77	62	100
Transportation	92	92	100
Utilities	90	90	100

Key findings

The cost of living in Pea Ridge is 4% higher than the West Virginia average
The cost of living in Pea Ridge is 11% lower than the national average
Pea Ridge housing is 23% lower than the national average
West Virginia general sales tax is 18% higher than the national average
West Virginia state income tax is 22% higher than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$58,929	$4,911	$1,375	$1,768
Renters	$42,593	$3,549	$994	$1,278

A good indicator of the general affordability of housing in Pea Ridge, WV, 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 Pea Ridge, the median monthly income is $58,929 for those who own their own homes. Under the standard rule, that income level would allow for $1,375 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $42,593, per the median income in the area. That would allow for renters to spend up to $994 on monthly rental expenses.

West Virginia Sales Tax

State	General Sales Tax	With Max Surtax
West Virginia	6%	7%

West Virginia Income Tax

State	Income Tax (Low)	Income Tax (High)
West Virginia	3%	6.5%

Goods & Services

Item	Pea Ridge	National avg.	Difference
Haircut	$17.64	$20.27	13.0%
Beauty Salon	$41.93	$40.39	3.8%
Toothpaste	$1.78	$2.36	24.6%
Shampoo	$0.98	$1.08	9.0%
Movie	$10.66	$10.99	3.0%
Bowling	$17.73	$15.49	14.5%

Groceries

Item	Pea Ridge	National avg.	Difference
Ground Beef	$4.86	$4.30	13.0%
Fried Chicken	$1.19	$1.40	15.0%
Milk	$1.71	$2.20	22.5%
Potatoes	$2.68	$3.22	16.6%
Pizza	$10.24	$10.74	4.7%
Beer	$8.99	$9.60	6.3%

Health Care

Item	Pea Ridge	National avg.	Difference
Optometrist	$56.01	$109.73	49.0%
Doctor	$124.42	$118.34	5.1%
Dentist	$80.85	$100.94	19.9%
Ibuprofen	$9.34	$9.93	5.9%
Lipitor	$467.50	$469.53	0.4%

Housing

Item	Pea Ridge	National avg.	Difference
Home Price	$142,100.00	$184,700.00	23.1%
Avg. Mortgage Payment	$1,006.60	$1,229.62	18.1%
Apartment Rent	$747.00	$949.00	21.3%

Transportation

Item	Pea Ridge	National avg.	Difference
Gasoline	$2.72	$2.71	0.2%
Tire Balancing	$40.84	$51.86	21.3%

Utilities

Item	Pea Ridge	National avg.	Difference
All Electricity	$142.48	$170.84	16.6%
Phone	$183.23	$187.18	2.1%

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	Population	Cost of Living Index	National Avg.
Kenova, WV	3,112	80	19.7%
Wayne, WV	2,044	81	19.1%
Proctorville, OH	519	80	19.9%
Hamlin, WV	1,531	81	18.8%
West Hamlin, WV	747	81	18.7%
Pea Ridge, WV	6,305	89	11.4%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Ocean City, FL	6,305	96	4.2%
Clarenville, NL	6,303	n/a
St. Paul County No. 19, AB	6,300	n/a
Enola, PA	6,299	93	6.8%
Wendell, NC	6,298	89	10.6%
Pea Ridge, WV	6,305	89	11.4%

Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.