Cost of Living in Huntington, WV

An Overview of Cost of Living in Huntington, WV

The cost of living in Huntington affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Huntington is 86, which is 14% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

What Do Locals Say About the Cost of Living in Huntington?

The real experts on a city are its residents. That's why we reached out to 5 locals to get their views on the cost of living in Huntington. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 60% found it budget-friendly with decreasing prices, while 40% said it's simply not affordable as prices have continued to rise.

Is Huntington Affordable?

Wondering if Huntington is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Huntington, for example, the median home price is 45.7% lower than what folks pay nationally, and monthly rent is 23.4% lower than the usual rates. Plus, income levels matter too, with Huntington boasting a median household income of $33,012, which is 40.3% lower than the national average.

What Factors can Influence the Cost of Living in Huntington?

Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Huntington, the utilities index registers 2.5% lower than the national average.

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Huntington, the groceries index is 0.3% higher than the national average.

Where is the Data From?

The cost of living data in Huntington displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.