Charleston, WV

Very Low · 62

West Virginia · Population 47,918 · Updated March 2026

$898
Median Rent / Month
$64,512
Median Income
$187,300
Median Home Value
$884
Owner Costs / Month

Affordability

How far your income goes in Charleston

16.7%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in West Virginia

State-level tax rates that affect your costs

5.12%
Income Tax (Top Rate)
6.0%
Sales Tax
0.58%
Property Tax Rate

Estimated Annual Costs

$10,776
Annual Rent
$3,303
State Income Tax
$1,086
Property Tax (est.)

Cost of Living Overview

Charleston is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 62 (where 100 equals the national median), Charleston residents can expect to pay median rent of $898/month while earning a median household income of $64,512/year.

The median home value in Charleston, WV is $187,300, with typical monthly owner costs around $884 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.7% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

West Virginia has a moderate income tax rate of 5.12%. Combined with a 6.0% sales tax rate and 0.58% effective property tax rate, the overall tax environment is a factor in the total cost of living in Charleston.

Frequently Asked Questions

Common questions about living costs in Charleston

What is the cost of living in Charleston, WV?
The cost of living index in Charleston, WV is 62 (US average = 100). Median monthly rent is $898, median household income is $64,512/year, and the median home value is $187,300.
Is Charleston, WV affordable?
Yes, Charleston is more affordable than the national average with a cost index of 62. The rent-to-income ratio is 16.7%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Charleston, WV?
The median gross rent in Charleston, WV is $898 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $10,776.
What is the median household income in Charleston?
The median household income in Charleston, WV is $64,512 per year. This compares to the national median of approximately $80,000.
What are the taxes like in West Virginia?
West Virginia has a top income tax rate of 5.12%, a sales tax of 6.0%, and an effective property tax rate of 0.58%.