Cost of Living in Elkins, WV

With a cost of living index of 70, Elkins, WV is one of the most affordable cities in the country. Living here is 30% cheaper than the national average and 4% below the West Virginia state average of 73. Elkins is a smaller community of 6,875 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Elkins's cost of living. The median monthly rent is $897 (32% below the US median of $1,319), and the median home value sits at $130,500 (57% below the national median of $304,900). At current prices, the median home costs roughly 2.7x the median household income — well within traditional affordability guidelines.

The median household income in Elkins is $47,746, which is 36% 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 Elkins. The area sees an average annual temperature of 51.7°F, with summers averaging 70°F and winters around 33°F. Annual rainfall totals 47.2 inches spread over roughly 173 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.