Cost of Living in Montgomery, WV

With a cost of living index of 60, Montgomery, WV is one of the most affordable cities in the country. Living here is 40% cheaper than the national average and 13% below the West Virginia state average of 73. Montgomery is a small community of 1,635 residents.

Housing costs are the biggest factor in Montgomery's cost of living. The median monthly rent is $628 (52% below the US median of $1,319), and the median home value sits at $117,300 (62% below the national median of $304,900). At current prices, the median home costs roughly 4.4x the median household income — a moderately affordable ratio by today's standards.

The median household income in Montgomery is $26,797, which is 64% lower than the national median of $75,149. Residents spend roughly 28% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. 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 Montgomery. 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.

Everyday prices in the Beckley, 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.