Cost Of Living in Ravenswood, WV

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	Ravenswood	West Virginia	National
Cost of living	86	85	100
Goods & Services	95	95	100
Groceries	100	98	100
Health care	101	97	100
Housing	61	62	100
Transportation	94	94	100
Utilities	98	96	100

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Cost Of Living Quick Facts

The cost of living in Ravenswood is 1% higher than the West Virginia average
The cost of living in Ravenswood is 14% lower than the national average
Ravenswood housing is 39% lower than the national average
West Virginia general sales tax is 18% higher than the national average
West Virginia state income tax is 16% 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	$42,817	$3,568	$999	$1,285
Renters	$35,809	$2,984	$835	$1,074

A good indicator of the general affordability of housing in Ravenswood, 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 Ravenswood, the median monthly income is $42,817 for those who own their own homes. Under the standard rule, that income level would allow for $999 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $35,809, per the median income in the area. That would allow for renters to spend up to $835 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	Ravenswood	National avg.	Difference
Haircut	$18.78	$24.26	22.6%
Beauty Salon	$46.22	$45.56	1.4%
Toothpaste	$3.56	$3.70	3.8%
Shampoo	$1.18	$1.28	8.1%
Movie	$12.41	$12.13	2.3%
Bowling	$13.67	$18.00	24.1%

Groceries

Item	Ravenswood	National avg.	Difference
Ground Beef	$5.57	$5.84	4.5%
Fried Chicken	$1.35	$1.57	14.0%
Milk	$4.83	$4.67	3.4%
Potatoes	$5.16	$4.93	4.6%
Pizza	$11.31	$12.09	6.4%
Beer	$10.19	$10.41	2.1%

Health Care

Item	Ravenswood	National avg.	Difference
Optometrist	$172.33	$125.68	37.1%
Doctor	$158.83	$135.78	17.0%
Dentist	$107.83	$113.29	4.8%
Ibuprofen	$10.49	$10.65	1.5%
Lipitor	$355.05	$468.60	24.2%

Housing

Item	Ravenswood	National avg.	Difference
Home Price	$86,200.00	$184,700.00	53.3%
Avg. Mortgage Payment	$1,346.93	$2,346.69	42.6%
Apartment Rent	$901.00	$949.00	5.1%

Transportation

Item	Ravenswood	National avg.	Difference
Gasoline	$3.36	$3.46	3.0%
Tire Balancing	$52.00	$59.92	13.2%

Utilities

Item	Ravenswood	National avg.	Difference
All Electricity	$189.47	$193.99	2.3%
Phone	$186.09	$192.25	3.2%

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.
Tuppers Plains, OH	375	97	3.5%
Pomeroy, OH	1,752	79	20.8%
Hartford City, WV	561	81	19.0%
Mason, WV	712	81	18.5%
Leon, WV	232	82	17.6%
Ravenswood, WV	3,675	86	14.1%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Hidden Meadows, CA	3,675	179	79.0%
Lake Land'Or, VA	3,675	105	5.0%
Chattanooga Valley, GA	3,676	86	14.0%
Lowell, NC	3,676	92	8.0%
South Toms River, NJ	3,676	115	14.8%
Ravenswood, WV	3,675	86	14.1%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Ravenswood, WV