Quick facts: Coal city, WV

Quick Facts

93.9
Cost of Living
below US average
1,461
Population
6.84
Crime Rate per 1000
below US average
$26,353
Median Income
below US average
$149,000
Median House Price
above US average
$1190
Average Rent
below US average
14%
Poverty Rate
above US average
4.2%
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 $26,353.

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Income Needed to Buy

βœ— Stretch
$47k/year
Based on $149,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $47k vs median $26,353
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Income Needed to Rent

⚠ Stretch
$51k/year
Based on $1190/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $51k vs median $26,353
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Coal city, WV

Coal City is a small unincorporated community nestled in Boone County, West Virginia. Known for its scenic landscapes, it resides in one of the state’s coal-producing regions, reflecting a rich history tied to the coal mining industry. The area features charming rural surroundings, making it an appealing spot for those who appreciate a quieter, community-oriented lifestyle. The community is situated near the larger town of Madison, which provides access to essential amenities, including shopping, dining, and community services. The nearby nearby Big Coal River offers opportunities for fishing and outdoor activities, contributing to the area’s recreational appeal. Coal City experiences a temperate climate with four distinct seasons, highlighted by beautiful fall foliage and mild summers. The local population is characterized by a strong sense of community, with family-oriented values prevalent among residents. Overall, Coal City, WV, offers a quaint and serene atmosphere, rooted in its historical significance in West Virginia's coal mining heritage.

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