Cost of Living in Fairmont, WV

With a cost of living index of 73, Fairmont, WV is one of the most affordable cities in the country. Living here is 27% cheaper than the national average and in line with the West Virginia state average. Fairmont is a smaller community of 18,303 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Fairmont's cost of living. The median monthly rent is $902 (32% below the US median of $1,319), and the median home value sits at $159,100 (48% below the national median of $304,900). At current prices, the median home costs roughly 2.6x the median household income — well within traditional affordability guidelines.

The median household income in Fairmont is $60,791, which is 19% lower than the national median of $75,149. Residents spend roughly 18% 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 Fairmont. 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.

Everyday prices in the Morgantown, 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.