Quick facts: Petersburg, WV

Quick Facts

93.9
Cost of Living
below US average
2,277
Population
11.42
Crime Rate per 1000
below US average
$46,629
Median Income
below US average
$262,500
Median House Price
above US average
$1190
Average Rent
below US average
15%
Poverty Rate
above US average
5.1%
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 $46,629.

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Income Needed to Buy

βœ— Stretch
$82k/year
Based on $262,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $82k vs median $46,629
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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 $46,629
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Petersburg, WV

Petersburg, located in Grant County, West Virginia, is a charming small town characterized by its rich history and scenic landscapes. Nestled in the eastern foothills of the Allegheny Mountains, it serves as a gateway to outdoor adventures, offering ample opportunities for hiking, fishing, and exploring nature. The town is home to several historic buildings, reflecting its heritage and the influence of early American settlers. Petersburg's vibrant community engages in local festivals and events that celebrate its culture and traditions. The Potomac Highlands region, where Petersburg is situated, encompasses beautiful parks and wildlife areas, attracting nature enthusiasts and those seeking tranquility away from urban life. The town maintains a close-knit atmosphere, with local shops, family-owned restaurants, and friendly residents contributing to its appeal. Additionally, its proximity to larger cities allows for convenient access to broader amenities while preserving the charm of small-town living. Petersburg is an inviting destination for both residents and visitors looking for a peaceful retreat in West Virginia.

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