Cost of Living in Gassaway, WV

With a cost of living index of 53, Gassaway, WV is one of the most affordable cities in the country. Living here is 47% cheaper than the national average and 20% below the West Virginia state average of 73. Gassaway is a small community of 600 residents.

Housing costs are the biggest factor in Gassaway's cost of living. The median monthly rent is $431 (67% below the US median of $1,319), and the median home value sits at $101,700 (67% below the national median of $304,900). At current prices, the median home costs roughly 2.5x the median household income — well within traditional affordability guidelines.

The median household income in Gassaway is $40,156, which is 47% lower than the national median of $75,149. Residents spend roughly 13% 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 Gassaway. The area sees an average annual temperature of 56.2°F, with summers averaging 74°F and winters around 37°F. Annual rainfall totals 46.2 inches spread over roughly 151 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.