Pea Ridge, WV Cost Of Living

Pea Ridge 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.
Index	Pea Ridge	West Virginia	National
Cost of living index	89	88	100
Index	Pea Ridge	West Virginia	National
Goods & Services index	97	102	100
Groceries index	99	103	100
Health care index	92	91	100
Housing index	77	62	100
Transportation index	97	98	100
Utilities index	78	88	100

The above illustration supplies generalized information for the Pea Ridge, WV cost of living index. Compared to other cities in West Virginia and cities across the country, the cost of living index in Pea Ridge, WV is 89, which is 2% higher than the West Virginia average and 11% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Pea Ridge, WV are 4% lower than the average for West Virginia and 3% lower than the rest of the country.

Did you know?

The cost of living in Pea Ridge is 2% higher than the West Virginia average.
The cost of living in Pea Ridge is 11% lower than the national average.
The cost of housing in Pea Ridge 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 35% higher than the national average.

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Compare Pea Ridge, WV Cost of living To Other Cities

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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

Using the salary calculator lets you compare the salary you earn in Pea Ridge, WV to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Pea Ridge, WV, you have to earn a higher income in order to still have the same standard of living. To operate the Pea Ridge, WV salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

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

If you want to find a good determining factor for the cost of living and the general affordability of housing in Pea Ridge, 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 Pea Ridge, WV, 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%

When assessing the complete cost of living in Pea Ridge, WV, the West Virginia income tax and the West Virginia sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The West Virginia maximum surtax is 7%, and the West Virginia sales tax is 6%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 3% to 6.5% in West Virginia.

Goods & Services

Item	Pea Ridge	National avg.	Difference
Haircut	$14.03	$16.09	12.8%
Beauty Salon	$33.40	$37.33	10.5%
Toothpaste	$1.77	$2.45	27.5%
Shampoo	$0.87	$1.00	12.7%
Movie	$9.83	$10.28	4.3%
Bowling	$5.23	$4.93	6.0%

Groceries

Item	Pea Ridge	National avg.	Difference
Ground Beef	$3.77	$3.80	0.9%
Fried Chicken	$1.30	$1.40	6.7%
Milk	$1.43	$2.01	28.9%
Potatoes	$2.48	$3.01	17.7%
Pizza	$8.99	$9.89	9.1%
Beer	$8.29	$8.90	6.8%

Health Care

Item	Pea Ridge	National avg.	Difference
Optometrist	$59.51	$102.16	41.7%
Doctor	$99.16	$108.36	8.5%
Dentist	$86.52	$92.53	6.5%
Ibuprofen	$8.83	$9.28	4.8%
Lipitor	$420.60	$425.82	1.2%

Housing

Item	Pea Ridge	National avg.	Difference
Home Price	$142,100.00	$184,700.00	23.1%
Avg. Mortgage Payment	$855.90	$1,202.44	28.8%
Apartment Rent	$747.00	$949.00	21.3%

Transportation

Item	Pea Ridge	National avg.	Difference
Gasoline	$2.29	$2.24	1.9%
Tire Balancing	$40.26	$46.29	13.0%

Utilities

Item	Pea Ridge	National avg.	Difference
All Electricity	$118.31	$165.96	28.7%
Phone	$24.67	$28.68	14.0%

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, State	Population	Cost of Living Index	National Avg.
Kenova, WV	3,112	81	-19%
Wayne, WV	2,044	81	-19%
Proctorville, OH	519	81	-19%
Hamlin, WV	1,531	85	-15%
West Hamlin, WV	747	85	-15%
Pea Ridge, WV	6,305	89	-11%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Ocean City, FL	6,305	97	-3%
Enola, PA	6,299	95	-5%
Everman, TX	6,312	89	-11%
Wendell, NC	6,298	94	-6%
Lakemoor, IL	6,313	110	10%
Pea Ridge, WV	6,305	89	-11%

Source: The Pea Ridge, WV cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Pea Ridge, WV Cost of Living