BECKLEY, WV (WVNS) – According to a study conducted by NiceRX, residents of West Virginia are losing a lot of their income to the costs of food and beverages.
New research has revealed that West Virginia residents are losing 6.95% of their income to food & beverage costs per year. This amount of loss is the 6th highest in the country.
|Rank||State||Personal Income per Capita||Food and Beverage Cost per Capita||Food and Beverage Cost per Capita (% of income)|
The research carried out by looked at what percentage of the average income is spent on rent, transportation costs, childcare, and other major cost of living factors.
- As well as food & beverages, West Virginia residents are also spending 20.85% of their income on health insurance and $10,656 on rent.
The research also revealed:
- Rent and childcare are the two most-expensive cost of living factors in the US; put together they cost an average of $45,423 per year, which in-turn amounts to more than 46% of the average annual income.
- Health Insurance ranks as the 3rd most-expensive cost of living factor in the US, with average costs across the US around $6,500 per-year, making up more than 10% of average income.
- Despite residents of Massachusetts having an average personal income of $82,475, rental costs still amount to more than 32% of this total.