Quick facts: Ballard, WV

Quick Facts

93.9
Cost of Living
below US average
187
Population
106.95
Crime Rate per 1000
above US average
$60,000
Median Income
below US average
$1,100,000
Median House Price
above US average
$1190
Average Rent
below US average
12%
Poverty Rate
above US average
5.0%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $60,000.

🏠

Income Needed to Buy

βœ— Stretch
$345k/year
Based on $1,100,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $345k vs median $60,000
🏒

Income Needed to Rent

βœ“ Affordable
$51k/year
Based on $1190/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($60,000) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Ballard, WV

Ballard is a small town located in Mercer County, West Virginia. Nestled in the scenic Appalachian region, Ballard offers a tranquil and picturesque rural setting. The town is characterized by its friendly community, charming homes, and surrounding natural beauty. Ballard is situated near the larger town of Princeton, providing residents with access to additional amenities, including shopping, dining, and entertainment options. The region offers outdoor enthusiasts plenty of opportunities for hiking, fishing, and enjoying the stunning landscapes that West Virginia is renowned for, particularly the nearby Bluestone River and various state parks. The area has a rich cultural heritage, reflecting the history of coal mining and agriculture in the region. While Ballard is a quiet town, it is conveniently located near major highways, making it accessible for those traveling to neighboring cities or states. Overall, Ballard is ideal for individuals seeking a peaceful lifestyle in a close-knit community, while still being able to enjoy the attractions of larger neighboring areas.

πŸ” Search & Compare Places

First Location πŸ“