Cost of Living in Falling Waters, WV

With a cost of living index of 91, Falling Waters, WV is slightly more affordable than average. Living here is 9% cheaper than the national average and 18% above the West Virginia state average of 73. Falling Waters is a small community of 2,384 residents.

Housing costs are the biggest factor in Falling Waters's cost of living. The median monthly rent is $1,341 (2% above the US median of $1,319), and the median home value sits at $207,200 (32% 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 Falling Waters is $87,632, which is 17% higher 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.

Climate is another factor for anyone considering a move to Falling Waters. The area sees an average annual temperature of 54.1°F, with summers averaging 74°F and winters around 34°F. Annual rainfall totals 39 inches spread over roughly 121 days.

Everyday prices in the Hagerstown-Martinsburg, MD-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.