Cost of Living in Elizabeth, WV

With a cost of living index of 55, Elizabeth, WV is one of the most affordable cities in the country. Living here is 45% cheaper than the national average and 19% below the West Virginia state average of 73. Elizabeth is a small community of 610 residents.

Housing costs are the biggest factor in Elizabeth's cost of living. The median monthly rent is $548 (58% below the US median of $1,319), and the median home value sits at $87,900 (71% below the national median of $304,900). At current prices, the median home costs roughly 3.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Elizabeth is $28,375, which is 62% lower than the national median of $75,149. Residents spend roughly 23% 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 Elizabeth. The area sees an average annual temperature of 54.9°F, with summers averaging 75°F and winters around 35°F. Annual rainfall totals 44.2 inches spread over roughly 137 days.

Everyday prices in the Parkersburg-Vienna, WV (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.