Morgantown, WV

Very Low · 67

West Virginia · Population 30,273 · Updated March 2026

$888
Median Rent / Month
$42,245
Median Income
$238,200
Median Home Value
$888
Owner Costs / Month

Affordability

How far your income goes in Morgantown

25.2%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

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

$10,656
Annual Rent
$2,163
State Income Tax
$1,382
Property Tax (est.)

Cost of Living Overview

Morgantown is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 67 (where 100 equals the national median), Morgantown residents can expect to pay median rent of $888/month while earning a median household income of $42,245/year.

The median home value in Morgantown, WV is $238,200, with typical monthly owner costs around $888 including mortgage, insurance, and taxes. With a rent-to-income ratio of 25.2%, Morgantown falls within the generally affordable range, though it's approaching the 30% burden threshold.

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 Morgantown.

Frequently Asked Questions

Common questions about living costs in Morgantown

What is the cost of living in Morgantown, WV?
The cost of living index in Morgantown, WV is 67 (US average = 100). Median monthly rent is $888, median household income is $42,245/year, and the median home value is $238,200.
Is Morgantown, WV affordable?
Yes, Morgantown is more affordable than the national average with a cost index of 67. The rent-to-income ratio is 25.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Morgantown, WV?
The median gross rent in Morgantown, WV is $888 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $10,656.
What is the median household income in Morgantown?
The median household income in Morgantown, WV is $42,245 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%.