Cost of Living in Despard, WV

With a cost of living index of 56, Despard, WV is one of the most affordable cities in the country. Living here is 44% cheaper than the national average and 17% below the West Virginia state average of 73. Despard is a small community of 1,038 residents.

Housing costs are the biggest factor in Despard's cost of living. The median monthly rent is $596 (55% below the US median of $1,319), and the median home value sits at $82,100 (73% below the national median of $304,900). At current prices, the median home costs roughly 2.4x the median household income — well within traditional affordability guidelines.

The median household income in Despard is $33,929, which is 55% lower than the national median of $75,149. Residents spend roughly 21% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. 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 Despard. The area sees an average annual temperature of 54.9°F, with summers averaging 73°F and winters around 36°F. Annual rainfall totals 44.8 inches spread over roughly 168 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.