Cost of Living in Alderson, WV

With a cost of living index of 63, Alderson, WV is one of the most affordable cities in the country. Living here is 37% cheaper than the national average and 10% below the West Virginia state average of 73. Alderson is a small community of 1,182 residents.

Housing costs are the biggest factor in Alderson's cost of living. The median monthly rent is $724 (45% below the US median of $1,319), and the median home value sits at $119,200 (61% below the national median of $304,900). At current prices, the median home costs roughly 3.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Alderson is $33,794, which is 55% lower than the national median of $75,149. Residents spend roughly 26% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Alderson. The area sees an average annual temperature of 52.9°F, with summers averaging 70°F and winters around 35°F. Annual rainfall totals 43.5 inches spread over roughly 161 days.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.