Cost of Living in Shepherdstown, WV

With a cost of living index of 112, Shepherdstown, WV is somewhat more expensive than average. Living here is 12% more expensive than the national average and 39% above the West Virginia state average of 73. Shepherdstown is a small community of 1,399 residents.

Housing costs are the biggest factor in Shepherdstown's cost of living. The median monthly rent is $1,152 (13% below the US median of $1,319), and the median home value sits at $474,500 (56% above the national median of $304,900). At current prices, the median home costs roughly 7.6x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Shepherdstown is $62,500, which is 17% lower than the national median of $75,149. Residents spend roughly 22% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Everyday prices in the Washington-Arlington-Alexandria, DC-VA-MD-WV (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 6 are priced higher 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.