Fairmont, WV Cost Of Living
Cost Of Living In Fairmont, WV Summary
Cost of living in Fairmont research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Fairmont is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in West Virginia, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Fairmont is 88, with 100 being the average.
The cost of living index in Fairmont is 0.9x lower than the national average.
Fairmont ranks as the #17 cheapest in West Virginia out of 31.
Fairmont ranks as the #1,278 cheapest out of 6,412 in the US.
The median home value in Fairmont is $122,100.
The median income in Fairmont is $47,618.
Table Of Contents
Fairmont's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Fairmont, WV?
According to the most recent data on the cost of living, Fairmont has an overall cost of living index of 88, which is 0.9x lower than the national index of 100.
Compared to West Virginia, Fairmont has a cost of living index that's 1.0x lower than West Virginia's index of 89.
The standard of living in Fairmont ranks as #17 most affordable out of the 31 places we measured in West Virginia. By definition, that implies Fairmont ranks as the #14 most expensive place in the Mountain State.
For more reading on life in Fairmont, check out:
- Living In Fairmont
- Fairmont Crime Report
- Search Homes For Sale In Fairmont, WV
In West Virginia
In America
Fairmont Cost Of Living Vs. West Virginia
Six factors go into calculating the cost of living index in Fairmont. Here is how it fairs on each of the criteria:
The Services index in Fairmont is 106.
The Groceries index in Fairmont is 97.
The Health index in Fairmont is 87.
The Housing index in Fairmont is 62.
The Transportation index in Fairmont is 88.
The Utilities index in Fairmont is 91.
| Living Expense | Fairmont | West Virginia | National Average | |
|---|---|---|---|---|
| Overall | 88 | 89 | 100 | |
| Services | 106 | 96 | 100 | |
| Groceries | 97 | 98 | 100 | |
| Health | 87 | 99 | 100 | |
| Housing | 62 | 69 | 100 | |
| Transportation | 88 | 100 | 100 | |
| Utilities | 91 | 95 | 100 | |
Fairmont, WV Housing Cost Breakdown
Housing swings affordability the most between places in West Virginia, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Fairmont is $122,100.
The Median Rent in Fairmont is $799.
The Median Income in Fairmont is $47,618.
The Home Value To Income in Fairmont is 2.6x.
The Rent To Monthly Income in Fairmont is 0.2x.
| Statistic | Fairmont | West Virginia | United States |
|---|---|---|---|
| Median Home Value | $122,100 | $128,800 | $244,900 |
| Median Rent | $799 | $770 | $1,163 |
| Median Income | $47,618 | $50,884 | $69,021 |
| Home Value To Income | 2.6x | 2.5x | 3.5x |
| Rent To Monthly Income | 0.2x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Fairmont, WV Costs By Category
Detailed Fairmont Services Costs Vs. West Virginia
| Item | Fairmont | West Virginia |
|---|---|---|
| Shampoo | $1.08 | $1.06 |
| Movie | $12.52 | $10.68 |
| Bowling | $13.05 | $14.67 |
| Haircut | $19.39 | $18.62 |
| Beauty Salon | $39.86 | $39.05 |
Detailed Fairmont Groceries Costs Vs. West Virginia
| Item | Fairmont | West Virginia |
|---|---|---|
| Ground Beef | $4.77 | $4.22 |
| Fried Chicken | $1.24 | $1.39 |
| Milk | $1.63 | $2.05 |
| Potatoes | $3.82 | $3.29 |
| Pizza | $10.01 | $10.62 |
| Beer | $9.32 | $9.38 |
| Toothpaste | $1.83 | $2.34 |
Detailed Fairmont Health Costs Vs. West Virginia
| Item | Fairmont | West Virginia |
|---|---|---|
| Optometrist | $99.07 | $108.57 |
| Doctor | $90.46 | $116.17 |
| Dentist | $89.59 | $99.13 |
Detailed Fairmont Transportation Costs Vs. West Virginia
| Item | Fairmont | West Virginia |
|---|---|---|
| Gasoline | $2.09 | $2.22 |
| Tire Balancing | $36.67 | $50.07 |
Detailed Fairmont Utilities Costs Vs. West Virginia
| Item | Fairmont | West Virginia |
|---|---|---|
| All Electricity | $139.04 | $167.67 |
| Phone | $179.2 | $175.64 |
Fairmont SnackAbility
/10
Cost Of Living In Cities Around Fairmont
The cost of living varies in the cities and towns around Fairmont. Here's a quick look at the cost of living in the most populous nearby places:
Morgantown, WV has a cost of living index of 94, 1.1x Fairmont.
Clarksburg, WV has a cost of living index of 82, 0.9x Fairmont.
Bridgeport, WV has a cost of living index of 101, 1.1x Fairmont.
| City | Population | Cost Of Living | Vs. Fairmont |
|---|---|---|---|
| Morgantown, WV | 29,316 | 94 | 1.1x |
| Clarksburg, WV | 16,085 | 82 | 0.9x |
| Bridgeport, WV | 9,165 | 101 | 1.1x |
| Brookhaven, WV | 6,606 | 95 | 1.1x |
