Cost of Living in Thomas, WV

With a cost of living index of 70, Thomas, WV is one of the most affordable cities in the country. Living here is 30% cheaper than the national average and 4% below the West Virginia state average of 73. Thomas is a small community of 614 residents.

Housing costs are the biggest factor in Thomas's cost of living. The median monthly rent is $818 (38% below the US median of $1,319), and the median home value sits at $158,900 (48% below the national median of $304,900). At current prices, the median home costs roughly 2.9x the median household income — well within traditional affordability guidelines.

The median household income in Thomas is $55,500, which is 26% 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.

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.