CHARLESTON, W.Va. — It’s still affordable to buy a home in West Virginia, according to a new study.
A ConsumerAffairs study said West Virginia is among the states with the lowest living costs. The study was based on housing, taxes, groceries, healthcare and other factors.
West Virginia came in second, with ConsumerAffairs calling the state a “housing haven.” West Virginia ranks just below North Dakota, the state in the #1 spot.
The study, released in late February, says West Virginia has the lowest median prices for homebuying and renting. Both factors cost about one-fourth of what they do in Hawaii, the highest-price state, according to ConsumerAffairs.
The study uses Realtor.com data stating the lowest median listing price for West Virginia homes is $220,000.
ConsumerAffairs also states West Virginia has the highest number of homeowners, outnumbering tenants by about three to one.
West Virginia’s median price per square foot is also the nation’s lowest — $120.
“It has the lowest median prices for both homebuying and renting; both cost roughly one-fourth as much as in Hawaii, our highest-price state. It also ranks in the top five nationally for its low state and local tax burden. All these are undeniable pluses,” according to Consumer Affairs, which goes on to caution, “bear in mind that West Virginia’s grocery prices are steep and its health care score is second-lowest in the nation, reflecting high premiums for employer insurance.”
Edited to add link to Consumer Reports link.