The cost of living index measures the amount of money required to pay essential living expenses such as housing, food, taxes, transportation, utilities, and healthcare. The principle is so straightforward that we frequently overlook its importance.
A person's pay directly correlates to their living expenses, which influences the type of lifestyle they can afford. If your living costs are high and your expenses exceed your income, you will have a restricted number of options for what you may buy and do. Affordability should be one of the most important factors to consider while looking for a place to buy a house and call home.
Let's compare the cost of living in the Mid-Ohio Valley to the rest of the state.
Expect Some Variation
But first, a word of caution. And this means that the Mid-Ohio Valley cost of living will vary from city to city. Because it covers such a wide area, the cost of living will not be the same in all the major cities and towns.
The Mid-Ohio valley includes parts of southern Ohio as well as northwestern West Virginia. It has a population of about 133,000 people and covers seven West Virginia counties.
There are two regions that border the Ohio River in West Virginia's northwest: the Mid-Ohio Valley Region follows the river's valley on its north and the Southwest Metro Valley Region on its south.
'The Mid-Ohio Valley Region encompasses Tyler, Pleasants, Wood, and Jackson counties in the north and Mason and Wirt and Cabell counties in the south. The area roughly corresponds to the West Virginia Department of Commerce's Mid-Ohio Valley travel zone.
Between Charleston, South Carolina, and Marietta, Ohio, Interstate 77 runs north-south through the western region. Near Parkersburg, it comes along with the east-west US-50 freeway. Highway WV-2 runs north-south along the Ohio River through the whole state. Highways US-35, US-33, and WV-62
Living Costs in Parkersburg, Wood County, West Virginia
Wood County, particularly Parkersburg and the surrounding area, is home to more than half of the people who live in the Mid-Ohio Valley. As a result, we'll begin with that as an example to better understand the cost of living in Mid-Ohio Valley.
Parkersburg has a cost of living index below the national average in every category – notably lower in a few. Here's what we discover when we look at the data by index:
* Groceries/food – 96.7
* Healthcare – 98
* Housing – 36.1
* Utilities – 89.4
* Transportation – 74.2
With a total score of 73.4, Parkersburg has significantly lower living costs than the national average of 100, which indicates other areas.
What about the housing score of 36.1, though? That's an important point to remember!
Home prices are $231,200 countrywide and $96,400 in West Virginia. Parkersburg, on the other hand, has a median property price of just $83,500.
Aside from having lower living costs (16.6% to 19.6%) than the national average, the area also has shorter commuting times and lower unemployment rates than the national average. The Camden-Clark Medical Center in Wood County has received the Consumer Choice Award for more than a decade. Several colleges, universities, and technical schools may be found in Wood County, including Parkersburg's West Virginia University.
Living Costs in Washington County, Ohio
As previously stated, the Mid-Ohio Valley encompasses a section of southeastern Ohio. So, let's look at Washington County, Ohio, as yet another case study.
The Parkersburg-Marietta MSA includes Ohio's Washington County and West Virginia's Wood County. Despite the fact that living costs differ slightly, there are certain similarities.
Washington County's overall cost of living is 13% cheaper than the national average, coming in at 86 on a 100-point scale. Listed below are the results sorted by category. . .
* Groceries/food – 92.2
* Healthcare – 96
* Housing – 63
* Utilities – 107
* Transportation – 98
Utilities are the only thing in Washington County that cost more than the national average. However, the cost of housing in 63 is much lower than the national average, as is the case in Wood County, West Virginia.
As an example, "on average, the closest metropolitan region with a population of over 1 million is 44 percent more expensive than the Mid-Ohio Valley... Movie tickets are around $10, gourmet coffee is under $2, a romantic supper for two at one of the area's finest restaurants is well under $100, and hotel rooms vary from $40 to $165."
For this reason, Washington County is a good spot to raise a family, as well. Due to fewer traffic and stoplights, Washington County residents have shorter commute times despite its distance to Pittsburgh and Cincinnati. Washington County residents also enjoy reduced crime rates, safe and high-performing schools, and various other attractive amenities. Reduced stress, increased productivity, and more free time are all benefits of these characteristics.
It Gets Even Better
Other advantages of living in the Mid-Ohio Valley include its extremely inexpensive cost of living. There is an oddity in the way people work together to create wealth and better living in this region, despite including two states and multiple counties.
"Despite the fact that this region crosses state lines, it is home to a strong community dedicated to seeing it prosper via collaboration, shared resources, and shared experiences. It's a win-win situation on both sides of the river if West Virginia's economy grows in a healthy way.
"While border states often have to fight for resources and opportunities, Karen Waller, executive director of the Belpre Area Chamber of Commerce, thinks being part of the Mid-Ohio Valley region is a benefit in general. It has been a pleasure to work with our surrounding communities on events, initiatives, and PR.
All of this adds up to a cooperative strategy for regional prosperity centered on "marketing the Mid-Ohio Valley's top industries and sufficient tourism attractions."
This is extremely rare, to say the least. Nevertheless, it means that the Mid-Ohio Valley is a fantastic, reasonably priced area to call home – and that it will only become better from here on out.
If you're interested in taking advantage of the low-cost housing options in the area, get in touch with one of the best real estate agents there is right now.
Check out the original blog post at https://midohiovalleyrealestate.com/
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